S&P Action

dtrader98

dtrader98

Ah, the old bait em then grate em.

Wonder what's in store for the lovely SPYs tomorrow, closing at the very top of the downward channel. All on the unconstrained amzn/rimm euphoria this afternoon.

I had a keen eye on this all morning.

f9pdw8.jpg



Pretty swift run up after such rampant fear two (trading) days ago. Not too sure tech saved the day for spy yet. More downside on spy and XLFs left IMO.

That being said, if you are short, always be prepared to concede if the support lines are taken out (protective stops first, think second).
 
Quote from dtrader98:

Ah, the old bait em then grate em.

Wonder what's in store for the lovely SPYs tomorrow, closing at the very top of the downward channel. All on the unconstrained amzn/rimm euphoria this afternoon.

I had a keen eye on this all morning.

f9pdw8.jpg



Pretty swift run up after such rampant fear two days ago. Not too sure tech saved the day for spy yet. More downside on spy and XLFs left IMO.
More...



FINANCIALS lagging....

tech seems to be the only thing helping out these markets.
 
target acquired. Remember those stops on resistance/support. FED cut rumor spreading like wildfire on various boards, whoever started it wants it known IMO.

Now is a good time to change thesis (if you haven't already). Whatever is driving the return is significantly strong to break the short term downtrend resistance line. Wouldn't be surprised to see a gap up through it am at this pt.

Love that volatility; be nimble around it.
 
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