I see 65 point moves either way here: we break today's highs, we
go up to 1450 or higher. We break Monday's lows and it will
be nasty IMO -- a straight shot down to 1300 or maybe even the 200
day MA. This scenario of breaking Monday's lows will be
especially nasty because this market will be breaking down on GOOD
NEWS and will be led to the downside (most likely) by the bull
market leading growth stocks. Bernanke better sharpen up his
dovish vocabulary in the next 75 minutes.
Posted by frtaylor on 25th of Apr 2012 at 12:50 pm
on SPY so far, the volume bars for the last four 5-min periods
since 12:30 show somewhat higher volume for the first two candles
(both red), and lower volume for the 12:40 and 12:45 candles (up,
hovering). So, maybe we go down?
Also, SPY did dip a toe into the gap from this morning.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Pretty pivotal area here.
Posted by kalinm on 25th of Apr 2012 at 12:46 pm
I see 65 point moves either way here: we break today's highs, we go up to 1450 or higher. We break Monday's lows and it will be nasty IMO -- a straight shot down to 1300 or maybe even the 200 day MA. This scenario of breaking Monday's lows will be especially nasty because this market will be breaking down on GOOD NEWS and will be led to the downside (most likely) by the bull market leading growth stocks. Bernanke better sharpen up his dovish vocabulary in the next 75 minutes.
on SPY so far, the
Posted by frtaylor on 25th of Apr 2012 at 12:50 pm
on SPY so far, the volume bars for the last four 5-min periods since 12:30 show somewhat higher volume for the first two candles (both red), and lower volume for the 12:40 and 12:45 candles (up, hovering). So, maybe we go down?
Also, SPY did dip a toe into the gap from this morning.