S&P daily pivots and break-down & up Targets

So whatever you want to call it. . .we've seen this before.

Short-covering or massive buyers at this level due to pinning prior to options expiry, apparently Dow 8000 and ES 813 were key to vault from in heavy trade.

We still closed below 850 area - off the highs. Is that a bullish "doji"? I still think the damage is done.

What say you JB with this close?

p$

 

That's right - you said we likely will be in a trading range.

Would that be between 813 & 853? Or above 853?

I guess we shall see.

p$

 

yeaaaaaaa BOOOOO YAAAAAHHHH

Target Hit !!!

 

Balance chart had much lower targets today............OMG
we took out the DECEMBER LOW"S

NOT GOOD GUYS

 

Joe,

In your view what does a close at this ES level mean?

pay$

 

75-80 % chance we do not close up for the year on S&P

based on taking out the December low's in January

 

Also good chance we test low's around 740

 

Joe,

Which are your S&P levels for today (21/01/09)? Thanks.

IT

 

This is the balance chart with targets

 

Here are the DAILY LEVELS for S&P