I had to laugh as I find it impossible to actually scroll back far enough to get a decent chart for analysis tonight. The markets close on Friday was not pretty to say the least. I Globex right now for the S&P 500 Emini right is under some pressure as we are at my next support level of 726 area. If your short ..Good for you but I just have a hard time to short this low and oversold. I much rather buy dips for bounce scalps til we get the turn and rally on volume that is breath taking. I have a feeling we are very close to that. Some suppport areas to watch are 726, 714, 700 and 688. I personally will be buying at each level for quick scalps til this market puts in a pivot low and can close positive two days in a row. Caution as we enter this period that is writing history as we speak.
Sunday, March 1, 2009
Monday
I had to laugh as I find it impossible to actually scroll back far enough to get a decent chart for analysis tonight. The markets close on Friday was not pretty to say the least. I Globex right now for the S&P 500 Emini right is under some pressure as we are at my next support level of 726 area. If your short ..Good for you but I just have a hard time to short this low and oversold. I much rather buy dips for bounce scalps til we get the turn and rally on volume that is breath taking. I have a feeling we are very close to that. Some suppport areas to watch are 726, 714, 700 and 688. I personally will be buying at each level for quick scalps til this market puts in a pivot low and can close positive two days in a row. Caution as we enter this period that is writing history as we speak.
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