Friday, February 19, 2010

1111 Top

I think 1111 has put a short term top on this market, and I would key off that level as upside resistance for Sunday overnight and Monday.  I closed out part of my shorts and will put it back in the overnight market.  I think we'll be trading a range between 1096 and 1110 on Monday.

4 comments:

Petsamo said...

Inverted head & shoulders is still doable on the Hang Seng, SPX, DAX, and EWZ (Brazil). Monday needs to be slightly down and trade in a fairly narrow range. I went 50% long (all China, best value). Market can go in either direction for all I care.

Petsamo said...

Thanks for the target prices you gave earlier. I appreciate it.

Petsamo said...

Carl Swenlin believes this week's rally is a bull trap and he gives evidence to support his thesis. Go to decisionpoint.com, Top Advisor's Corner, and look for his latest column.

Anonymous said...

hey man fwiw i think the economy is picking up. I've been getting around around a couple calls and emails each from recruiters with job ops. I had three interviews on Thursday and Friday and I already got one offer. they're starting to run out of people to hire it looks like. if this pace keeps up the market might not go down much. i thought i was going to be out of a job till summer.