7.3 – 2009, Market Closed
Occured today.
Well, 666 if you want to dress it for devils number as DowJones cut 6666 too ;).
It appears GE run away from me – should act there on wensday when it really lost it´s tick. Not much action for me today, but holding what I bought yesterday + some Intel trading. There seems to be spike during the late hours with SPX – certainly because Fib662 was so close, even reasonable decent one. Now, we´re inside of far too low for me and it´s real danger to short anything anymore unless you´re very fast moving intrawave trader.
It´s time to start scanning most heavily oversold RSI´s from this market and time to take more conservative approach, I am planning to start taking some heat very soon. Be aware that if SPX600 fails, there would be more significant drop to much lower, far below 500 and no, I don´t call todays action as final bottom yet instead this is a reversal which might give more on next week or then not – but when all of this destroy finally ends even more temporary, I´ll do expect that it would be something more violent & specific issue related as silent friday lag of buyer & sellers.
With existing W5 truncated risk there should be soon some real investors buying, the one´s who are able to take the heat meaning well reserved cash.
Nor reversal, but not panic either – market starts to look pretty dead place. Nothing new in this posts I assume for my readers, 600-662 is buy road for me and very minium target of it was met today with 4 points error.
I am preparing also with Eur-Usd more steady reversal in here also back to 1.30000 area. I propably should call todays as “mini-minium” buying requirements are met with SPX points, but I really didn´t expect this targeted range to come this quickly, basically many weeks freefall withthout any positive day at all and it didn´t pause today either before very last hours. Market is 2 weeks ahead from my charts. One more up, one more down and we could be clear if none of the waves in this impulse will not extend. If waves will extend, this spring is going to be very ugly.
