how far down do we go on the double-top?
- Thread starter empee
- Start date
Quote from Landis82:
10 handle rally in 20 minutes.
Hope no one left their desk to go to the head, especially if you were short!
It could just be reaction buying to yesterday...might fall back apart.
I rolled my July SPY Puts to August's after claiming a pretty big profit on them. Awesome!
VPM market comments for Thursday June 21, 2007
"Yesterdayâs action was unable to penetrate through the 1538.05 level in the first three hours and the market turned down for the balance of the session. The sharply lower close has satisfied most of the downside price action that I had discussed over the past several days for the C-wave down. The original target was the 1517/1512 levels. The extreme downside for the pattern should be the 1504.75 level should this level hold for the next two sessions then it the next upward move should to begin to unfold."
And the low today?
1504.75
:eek:
"Yesterdayâs action was unable to penetrate through the 1538.05 level in the first three hours and the market turned down for the balance of the session. The sharply lower close has satisfied most of the downside price action that I had discussed over the past several days for the C-wave down. The original target was the 1517/1512 levels. The extreme downside for the pattern should be the 1504.75 level should this level hold for the next two sessions then it the next upward move should to begin to unfold."
And the low today?
1504.75
:eek:
We can't call it a double top until the bottom has been taken out.
I think I'm gonna be sick, these moves are making me sea sick.