Hey now, how exactly is one supposed to read this pitchfork you
showed us?
And fwiw, today's top at 845.61 was about .66 pt shy of the
target that would make this the top of a wave B in an irregular
flat correction where B= 1.25xA....of course if that is going to
play out (doubtful but within the outside realm of possibility)
wave C must start some serious downside selling now.
CNBC talking heads were saying 8.5% unemployment was priced into
market. in order to get any selling pressure from tomorrow's number
, they said it would have to be 9% or
worse.....
x
You read it as we're up against resistance. Having said that
I have my money on the long side. I reduced my positions
by half today but holding the balance overnight. I'm thinking we
gap over resistance in the morning. Whether or not it holds remains
to be seen. If it does res. becomes support. jmo
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great find Chad!
FREE software to post images with
Posted by cmaslin on 2nd of Apr 2009 at 07:32 pm
Thanks, this is awesome.
I agree, this is great!
Posted by pisces on 2nd of Apr 2009 at 08:28 pm
I agree, this is great! Thanks Chad. Hope this works for me.
http://screencast.com/t/DQZcyJo3hs
Looks like the $SPY is bumping it's head up against double resistance.
Hey now, how exactly is
Posted by perthx on 3rd of Apr 2009 at 12:30 am
Hey now, how exactly is one supposed to read this pitchfork you showed us?
And fwiw, today's top at 845.61 was about .66 pt shy of the target that would make this the top of a wave B in an irregular flat correction where B= 1.25xA....of course if that is going to play out (doubtful but within the outside realm of possibility) wave C must start some serious downside selling now.
CNBC talking heads were saying 8.5% unemployment was priced into market. in order to get any selling pressure from tomorrow's number , they said it would have to be 9% or worse..... x
You read it as we're
Posted by pisces on 3rd of Apr 2009 at 01:18 am
You read it as we're up against resistance. Having said that I have my money on the long side. I reduced my positions by half today but holding the balance overnight. I'm thinking we gap over resistance in the morning. Whether or not it holds remains to be seen. If it does res. becomes support. jmo