Weak close setting up a possible retest of Fridays lows at 1140 , although there is a very strong pivot at 1150. Likely scenario is to test 1150 (SPOOS) bounce, bounce back down at 1156 for a drive thru 1150 to 1141 or so. Hard bottom. Drive back up to lower high at 1086, another swing lower. Today's profit +$750 on $1000 margin. Good luck to all.
These predictions for the week are looking pretty solid but next week will be harder, although with option/futures expiration next week the spoos are gonna come very close to 1100 before the next charge lower. We have a short trading week---markets are closed monday---. We are likely gonna go up tomorrow so we'll be in the 1100 range for next week. Tomorrow's Predictions Open 1076 High 1086 Low 1072 Close 1080
These predictions were wrong and it goes to show "TRADE WHAT YOU SEE." This cost me alot of money. I went over all days for thear and only 2 days in 2010 have been this far off. Yet if you follow the rules you don't lose money when you're wrong or you limit your losses. Hope my tech analysis is better tomorrow and for next week although I'm ready for anything. Good Luck
Well at least I got the close correct : ) Today's big gap down definitely changed the numbers and I did not adjust them prior to todays open. : ) With the gap down obviously the prediction low and high would have been changed. Of note their continues to be a fair amount of volatility. Which is common during bear markets. The move up from such a big gap down to close even is remarkable. This market feels strong going into expirations next week as noted yesterday and 1100 is possible. Good Luck