Dow About to Break Out?
- Thread starter Corso482
- Start date
anyone think the 2 point TL from October lows will act as any support ... ? I say we rally back from sub-8600 intra-day... towards 8800? If not then next support near 8500.
3 point TL at approx 8830 and 200 day ema, is reistance.
What does all this mean... ? I don't know. Maybe I go long some spx calls for a pop off support. Still a toss up between a continuation pattern or a reversal top (H &S or triple top)
Maybe it's a good time to take a vacation!
3 point TL at approx 8830 and 200 day ema, is reistance.
What does all this mean... ? I don't know. Maybe I go long some spx calls for a pop off support. Still a toss up between a continuation pattern or a reversal top (H &S or triple top)
Maybe it's a good time to take a vacation!
thanks for the reply
duly noted... still think we see dow 7500 unless hussein get hammered; still, the seasonal bias is lower, and that's typically in a bull market. With earnings having no noticeable effect on market to upside, and a bear market, the plan is to add to shorts at key levels, barring some significant surprise that justifies changing said bias... and technically, need to see a reason not to play the triple top/H &S reversal top... the problemo is this is expiration nosie and pegging so can't amek a true decision/plan until the real market emerges on Monday. If you look at the large open interest on the atm calls in the stocks getting hammered... it makes sense that market would be pegged lower on some tech key components.
jury still deliberating
My view is: "opportunities are made up easier than losses", so will stay patient before committing any size.
duly noted... still think we see dow 7500 unless hussein get hammered; still, the seasonal bias is lower, and that's typically in a bull market. With earnings having no noticeable effect on market to upside, and a bear market, the plan is to add to shorts at key levels, barring some significant surprise that justifies changing said bias... and technically, need to see a reason not to play the triple top/H &S reversal top... the problemo is this is expiration nosie and pegging so can't amek a true decision/plan until the real market emerges on Monday. If you look at the large open interest on the atm calls in the stocks getting hammered... it makes sense that market would be pegged lower on some tech key components.
jury still deliberating
My view is: "opportunities are made up easier than losses", so will stay patient before committing any size.