Friday, May 4, 2012
Close to Short Term Low
Today just may be the bottom pivot to thrust us into new yearly highs. The market expected a weak number and got it, but its not much below consensus and probably close to the whisper number. Expecting 1380 to be a strong floor for this market as jobs jitters is now out of the way. Plus Europe is trading unusually strong compared to the US today, probably means we got a gap up Monday coming. Looking for a long entry.
Subscribe to:
Post Comments (Atom)
Posts
5 comments:
looks like 1380 was not so strong..
Haha ... Market Owl buying the trash ... lets go down 100 pts on SPX.
Seems like Friday was the bottom of a symmetrical triangle nearing its completion for the S&P, I would actually buy it betting it won't break downwards. The next few weeks will be interesting. China A-shares is at a very interesting moment, its likely bottomed in first quarter, gonna see if it goes above previous peak in February. If it does its confirmed the downtrend is officially over.
Hehe ... seems there are a lot of dumb bagholders out there. Looks really like 6 mo of a rally brainwashed quite a few ppl out there. Dudes it's correction time !!!
k S&P futures dropped below the support, so I would've lost that bet. Damn.
Post a Comment