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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Friday, June 22, 2012

6/22 pre-market update

on Wed 6/19's market close, i updated with ($spx high at 1363):
"for now, short term outlook is for $spx to pull back toward 38.2% retrace around 1325."

on Wed 6/20's market close, i updated with:
"before going too agressive on the "operation X", my short term target is 38.2% retrace of the 5m dashed brown line around 1326."

again, the third day in a row, on Thur 6/21's pre-market close, i updated with:
"before going too agressive on the "operation X", my short term target is 38.2% retrace of the 5m dashed brown line around 1326."

yesterday $spx closed at 1325.5, low at 1324.4, found support right at the 5m dashed brown line.

shown on the 1m chart, today i am looking for ... around 1337 to relieve the short term oversoldness, especially the volume indicator.
$spx also is around the daily mid green pitch fork support.