Friday, September 24, 2010

9/24 pre-open

Shorted SP futures 1127.  It's highest 30-minute close was 1132.75, just above the 1132.25 threshold.  I show SP futures now forming head and shoulders.  Stop is now a 30-minute close above 1132.75.

DJ broke down from head and shoulders yesterday. 


  1. dollar has fallen to new lows. it's unlikely stocks will tank as long as dollar keeps making new lows. crude is up on the dollar's slide, so is gold.

  2. Steve

    Would this be 5 down from the Tuesdays high and now a completed ABC?

    Jack C

  3. ES is still in the channel drawn off the 9/8 low and yesterday's lows. launched off of that lower channel line this morning and is now at mid-channel. top of channel is around 1149

  4. As long as traders embrace risk assets, the party continues. The real question is, when will they stop??