Expect a strong up day especially if market breaks down hard this morning. Not only that look for a potential multi day rally into friday. Laugh if you like but this market is primed for a good up move buy some calls if you are nervous but get long today especially like i said if the market can break below 1411 in the S&P there is minor support at 1418 as well which if broken may provide a short term resisitance point But should be blown away this afternoon.
Do you mean that there may be support at 1418, which may be broken, then there may be support at 1411?. That isn't what you wrote. Sentences/periods!
can u please explain why there will be a bounce?...i don't think people are just going to start buying because of the positive CPI report, are they?
They are both support zones with 1418 being a minor one i expect to get broken early today. 1411 is a major suppport level for me yes I stuffed up previous post I meant to say if 1411 holds expect a big up move with 1418 being a minor resistance zone on the way up but should be blown away on a second test
Market is very oversold and in the absence of any news related bad news (ie another firm goes tits up) we are primed for a good retrace.
You may think as a buyer you hold a contrarian view but the sentiment is very bullish. 75% of the blogs I've read this morning are long. What's even more worrisome is the language of the bulls. "explode higher", "up strong" ect. I'm stuck long and below 1519 SPX I'm back on the short side. There's a much greater chance the next 100pts in SPX is quickly to the downside rather than to the up.
yup............any bounce from here is a gift for shorts....i`m actually hoping for a nice bounce to lay `em out & ride them.....pretty clear cut sell zones above market.
yep ...everyone is calling for a bounce ..or the bottom ... everyone is still a dip buyer ...everyone is saying this is overblown or an overreaction ...