14 replies to this topic

[NAV]

The friday gap and crap went as per the plan. Then came the late day snap. The VST correction has a little bit more to go on the downside. The next dynamic support comes in around SPX 1493, which should be the area of interest for the trend traders for the next buy. Will evaluate if and when we get there. But no top of importance has been seen yet.

[BigBadBear]

Their was NO gap on Friday. The premarket gap was entirely reversed BEFORE the open. ....Unless you call 1 single S&P point a gap of importance..worthy of a gap and crap forecast ? We have these tiny gap n downs almost everyday so what is your point ?

[NAV]

Their was NO gap on Friday. The premarket gap was entirely reversed BEFORE the open.

....Unless you call 1 single S&P point a gap of importance..worthy of a gap and crap forecast ? We have these tiny gap n downs almost everyday so what is your point ?

Thursday's ES close was 1508. Post empolyment high tick was 1517. Someone who was holding ES shorts would probably be humming tunes with 9 points against them, cuz that ain't any gap. And those who were long certainly woudn't have relished that 9 points either. And those trading SPY or QQQQ did not see a gap either ! !

Edited by NAV, 07 May 2007 - 05:39 AM.

[BigBadBear]

Listen, all of what you said is "pretrading". Their are 9 point ranges in pretrading all the time Their was NO gap up on Friday

Edited by BigBadBear, 07 May 2007 - 05:55 AM.

[NAV]

Listen, all of what you said is "pretrading". Their are 9 point ranges in pretrading all the time

Their was NO gap up on Friday

Look, if you beleive that there was no gap-up, i am not here to convince you. The cash markets also did not gap-up

Edited by NAV, 07 May 2007 - 06:10 AM.

[eminimee]

there was a gap...and technically never got closed until just after noon eastern of Friday. . .

[Russ]

Only if you use an after hours chart was there no gap to speak of, using regular hours chart there was obviously a big gap and a gap on the cash spx too. Nav do you expect that fridays highs will NOT be exceeded before es reaches your 1493 target?

[redfoliage2]

QQQQ, SPY and IWM all gapped up at the open last Friday though somehow they managed to supress indices from doing so:

http://stockcharts.c...&...3189&r=6339

http://stockcharts.c...p...21025&r=180

http://stockcharts.c...p...7829&r=6139

Edited by redfoliage2, 07 May 2007 - 07:12 AM.

[NAV]

Nav do you expect that fridays highs will NOT be exceeded before es reaches your 1493 target?

Russ,

Yes. That's my expectation at this point.

[NAV]

Just shorted YM @ 13320 for a daytrade. Stop 13351

Edited by NAV, 07 May 2007 - 07:38 AM.