August 24, 2010

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

2:50 - SPX triangle with E overthrow after reaching 55 C=A target is the best I have for the bears here.If you are not convinced this market is rigged, please go get your head examined.Only because of the news in the morning am I not calling this a bigger move to the 75 double fib confluence. Other than oversold there is no reason for the markets to be moving up.

2:16 - 50 level passed on SPX - possible wedge with 55 as the ABC target. 


12:39 - SPX 1m (ignore that pink box with no data in it that totally fucked me yesterday) and follow the 200ma and price. Similarities between yesterday and today I think.Not sure if I am going to get another pink box today or not, but if I do you'll hear me bitching. Just took out that 46 support. 43 is the lower BB and they are narrowing. 

11:25 - INDU 1m channel at 61.8% retracement and at that dashed red resistance line. If RUT filled the gap from this morning I also suspect SPX to as well. I think she consolidates here thru lunch.10,000 is support now.

10:56 - Minis 1m chart I keep referring to. Watch that 200ma. 

9:46 - Dollar is all over the place. 

9:41 - Minis 5. Oversold and climbing. Here it the wedge I have that has completed an A-E formation. That yellow dashed is the neckline of the HnS.Lots of support here. Let's see what the housing and petrol numbers have to say at 10.

Just putting the post out here in case anyone wants to comment tonight and so I can work on it.

Here, let this keep you busy.

blog comments powered by Disqus