crazy 2nd gap down

then we know some call sellers got pressured so they dropping it to buy for expo.. otherwise, down we go.

60 minute chart on SPX internals looks real bad.

60 minute chart on SPX internals looks real bad.

Yeah its been rising on vapors last few days. I'm inclined to think something is afoot for OPEX. Lets see if theres a gap fill.. if there is..

Michigan sentiment in a few minutes..

odds of gap fill ain't good in my book, but this rally has been high sigma, so if its going to top the IT or even the bull run altogether, I expect it to defy all expectations, even on an intraday basis.

Its OPEX and been a strong trend up week, this shouldn't have happened today...The up part of the earnings cycle seems discounted now also, it came with the first 2 companies. Mc Osc, P/C, Divergences abound...mkt gonna dive big into next week.

Edited by tommyt, 16 October 2009 - 09:06 AM.

Either way I think we make one more run to a print just above 1100 on Monday of next week. Though we are in the window for topping this cycle, I do believe this gap down and correspondant selling pressure is due to none other than Opex. There is an Astro cycle hitting over the weekend from Sunday afternoon that lasts through Monday mid morning.... I believe we top the market then.... I am 50% short S&P and 100% long the US $..... I plan to move to 100% short on Monday either on a rally to touch 1100-1110 or any break of support....1078-1082 level.... either way I am going all in on the short side Monday.... The market is topping in my opinion, though this top is temporary. We'll make higher highs in December...

60 minute chart on SPX internals looks real bad.

http://stockcharts.com/c-sc/sc?s=$NYADV&p=60&yr=0&mn=1&dy=0&i=p60560798007&a=180572881&are=252.png