Thursday, September 9, 2010

CIT in the works.

Breaking above 1105 spx if it holds, puts the trend to up.
I don't know :( I'm in denial fighting my model :)

So many have the EOY at spx 1250 based on earnings that are as we know, from cuts not expansion .

Compression week working

Compression week is working as the tight range is getting ready to bust out, as I start to get over bought
Lets put some numbers on this. Resistance at 1105 still holding.
Spx 1105 we rally, 1090 we test lower.
Longer term to see how important this R line @ 1105 really is,is this chart of the SPX market. We test the lower line again it won't be friendly.

Click chart to enlarge..................................

Sunday, September 5, 2010

Resistance 1105 spx

Strong resistance at 1105 Spx. Downtrend line, fib hit and SQ 180 degree from 1039 hit.
As far as the trending model it offered a aggressive buy at 1080.39 (9-02) not reported.
We have a bullish CIT if we remain above 1088 for Tuesday.
Next few days should tell us if this was a violent bear rally or there is legs under this market.

Our 1122& 1082 purchase we covered at 1070/71 or at the market when I posted that info, so at least 62 spx points bagged that should be at least +$1500 depending on the 2 etfs.