Inverted head and shoulders on the SPX?

Decided to cover all levels sold up to but not including 872.50's with profit target hit at 867.50.....now holding all 872.50 entries with a first target at 862.50 for just over 16% of position. So far this a.m. we have traded right up to the very bottom of the delta net short holders zone at 872.75 to 875's.....textbook rotation to "inventory" prior to initiated selling taking price back down.

 

872.50 short entry 10 point targets at 862.50 filled.......next targets now at 857.50....852.50....842.50......832.50 and last at 822.50 Still holding remaining 873/874 short entries from the previous week with targets for those positions at 803.00 and 793.00

 

OK.....futures dropping as obama speaks tonight and I already have my 857.50 and 852.50 profit targets filled.

 

instead of hijacking a thread create a journal

 

But Stockholm Syndrome is more fun for the participants!

BTW, did you get SHORT yet? :eek:

 

I made a brief video here:

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Thanks for the video......btw, the Thai market should know the word "assume" does not work well in trading!

 

Price sold down on the TARP news and missed my next profit target by one tick (next target was at 842.50), so I decided on the immediate price bounce to take my cover at 843.50.....other targets remain were placed other than I have moved my 822.50 targets down to 817.50 now.

 

Oh....832.50's now filled too!!! :eek:


Thanks globalist NY FED branch evil minion geithner.....I enjoyed the TARP II Bailout Theft slide!

 

Today the $SPX did not emerge untouched by the bearish sentiment prevailing in all of the indices today. As it opened at 866.87 and barely made it to 868.05 as a high before declining to 822.99. The closing candle engulfed previous trading sessions close. Tomorrow will be interesting as the overseas market digest the US markets lead.