Friday, October 22, 2010

10/22 2:50

Last hour's normally exciting.  Today was a POMO day but the pop just wasn't there.  The gang in Korea might say something.  I thought the opening was enlightening.  Futures were up 5 SP just before the opening but the cash market allowed nothing more.  All I can do is trust that the next move will be down and buy on the first hint of a downturn.  I have support at 1175 and 1173 SP futures because the market has gone nowhere the past week and these longer M/As have caught. 
Sometimes, you just have to cut the crap and make it simple.  Here is a descending triangle in SPX:

No comments:

Post a Comment