Ideally, we tag 1345 by mid day Tuesday where the 8/16 day cycle runs 10/20 +2/4. Normal OPEX bullishness is then expected into Friday with projections to 1405/13 in a wave "b" rally that should fail on the SPX, but projects for new recovery highs on the NASDAQ 100.
Lower Prices Indicated 4 Early Week
Started by
blustar
, May 12 2008 08:31 AM
2 replies to this topic
#1
blustar
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blustar
#2
redfoliage2
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Posted 12 May 2008 - 09:29 AM
Ideally, we tag 1345 by mid day Tuesday where the 8/16 day cycle runs 10/20 +2/4. Normal OPEX bullishness is then expected into Friday with projections to 1405/13 in a wave "b" rally that should fail on the SPX, but projects for new recovery highs on the NASDAQ 100.
I'd see first if SPX 1370 could hold or not this week.
#3
blustar
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blustar
Posted 12 May 2008 - 10:09 AM
You can see a bear flag building on the 4Q's with support on the up trend line near 46.51 Tuesday suggesting over 4% lower there from current prices. Also the hourly's look to be topping in the next hour.
I believe the market will sell-off late in the session and oil could be the culprit. Follow thru' selling tomorrow into mid session would be ideal for a long trade set-up into OPEX.
