Tuesday, July 12, 2011
Rally Sold
We had another down day, making it 3 days in a row, with 2 unfilled gaps above. The situation in Europe is reaching a boiling point, and the ECB is intervening to try to contain the contagion. Remember ES 1296. That is a price which will likely be revisited soon. Below that, I see ES 1290 as strong support. They correspond to SPX 1300 and 1294. 1290-1296 should provide a strong bounce if we get there this week.
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2 comments:
I got em right where I want em!
Doubt we see sub 1300 again in this wave. Having said that, in no time we're back to nobody got long scenario while market making new highs. No pain no gain either way long or short cos the algos won't let u in once it's set.
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