Will definitely be interesting to see how this "W" formation will resolve on Monday morning.
Friday, May 29, 2009
Which GAP will it be?
Will definitely be interesting to see how this "W" formation will resolve on Monday morning.
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aFTER MARKET SPX already touched 200 dma. we will have 200-300 points (DJI)down day for Monday. Anyone who bought put at the close will make a killing. Others will have an out to break even. Bears will be cover around 880 -888. who knows next? June July will be down month and volatile.
ReplyDeleteChris, in medical profession when a patient on death bed tells doctor that he is all of a suuden feeling very good and happy doctor ubderstands that it is a tell tale sign of end. Brain does tricky thing.
ReplyDeleteThis is a good analogy of the current rally.
I'm still a novice at this, but it would seem like the end of day was a capitualtion for the bears; a necessary step for the MM's to take this lower, especially the way they performed one final clean up act (execution) for the shorts from 3:59 to 4:01.
ReplyDeleteI was worried when I saw the market rising at the end of day, but the final act makes me less nervous about Monday...or maybe I'l just be poorer.
Thanks Chris for all your info (and for the other contributions too).
Steve