August 22, 2010

Morning Post, SPX, S&P 500, e-mini

10:52 - This is the 30m bear set up I was mentioning on the big blog at the open. The 30m minis are at this 70 support. This is where I speculated gap fill and bounce.Half the call appears to be good so far. I do not like how weak the markets look (as far as my bounce call goes) I am in cash after several scalps. This is a line in the sand.

10:06 - Possible SPX wedge. This is much more bearish than I am. We always use the charts and not what we think or feel.

First look at the last couple of posts on the big blog to get your day started and so you'll understand what I refrence when I write.

Here is a chart I have never posted - SPY - My only comment is that Island Tops (blue gap thru the top) may want to get satisfied, No guarantees to that. I'm gonna get some sleep. See you in the AM. Let's rock it this week!

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