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. 

4 comments:

  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.

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  2. Steve

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

    Jack C

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  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

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

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