Thoughts on daily chart. ndx, comp are still in a large wedge formation. spx could be a large bull flag set up. dj is approaching its highs for the last 6 months. 200 dma's are serving as resistance. If dj30 and spx break the recent highs spx 1300 is likely the next stop. Long term trend is still down, but that could be changing. Anyone want to chime in and possibly make this thread of use?
Guess I'd like to know if anyone is seeing a selloff by the end of the day? I followed Grand's advice and left my in the money SPX 1245 weekly short calls on the table. And with a little over 3 hours to go, I need to leave town to do some xmas shopping. My SPX 1260 weekly short calls have just moved into the money as well. If Grand's retracement doesn't happen soon like he claimed, then he will have cost me a good chunk of my portfolio again. Live and learn. I suppose Grand is laughing at anyone who is listening to him.
Yikes what were the entry prices? I'm not seeing a sell off but rather closing a point higher than current high of day.
I think we rally next week. I am positioned long. I think there is huge incentive to mark the close this year. (That's the extent of my technical analysis knowledge).
bc1 hows your maths ? You will need to apply yourself better if you want to keep up with these variable markets. ALL trades at blog ~ http://stockmarket618.wordpress.com
Wow, not only are your posts useless, but when someone uses your advice, you treat them like crap. You sir, are a complete Asshole!
SP500 weekly chart shows possible bullish spike ahead. http://stockmarket618.files.wordpress.com/2011/12/2011-12-24_sp500_wk.png