Friday, July 24, 2015
Today Thursday I said @ 11:30 am ET that 2110 needs to fall but it held hard for a while.
Now that 2110 SPX has fallen I believe it is strong resistance.
Friday is a wild card and I have no call!
I have a low next week and a retest of that low the week after Aug 3rdISH to get long for a sharp rally to 13-14th or 20-21 expiry more on this in a week.
How low could we go? Of course it will have to be find tuned but 2075/2083 SPX looks do-able if this is a wave 4 correction. Lower than 2075 and this is no Wave 4.
I look for a momentum number of 4150- currently we are at 4221.
This is what Advance Get looks like.with 618 @ 2075 Spx
Posted by Jerry at 1:11 AM
Tuesday, July 21, 2015
Tuesday 21st – Wednesday-22nd critical
Tuesday we have Apple and Verizon earnings to mention a few power houses.
Monday closed at the most Overbought level since Dec 30th when we dropped 100 spx points in 6 TD.
Or back in Oct 27th where we went up 150 Spx points in 30 TD.
SO Overbought doesn’t mean we will drop!!!!!!!!!!
My best guess is we will drop by Thursday this week at the latest.
Posted by Jerry at 1:03 AM