spoo's over-sold? wants to bounce here? ...
...if equities can't manage to bounce from this SPX ~1080 support area, at least challenge the 14d EMA DownTrend resistance area around SPX ~1119, then we'll have to conclude that "the market is broken, raw kapital (stocks and bonds) will be destroyed". IMHO
VIX.X = spinning top or, near-doji => "uncertainty" ...could be a "pause" or, a turning point.
PUT:CALL = too many PUTs.
SPX mo %K=63 = ~13.8 < 20; ie., look for bounce or, break down (if mo fails to bounce, it'll just "roll around down there in the dirt" as Paul would say)
_
...if we get a really negative, gap-down looking SP02H futures before the OPEN, I'll prolly buy the OPEN. If it gaps down AND continues to plunge, I'll prolly pyramid.
...if we get a lazy-looking, low-volume day, I'll prolly buy the CLOSE or, buy StockFund @ MKT On Close.
...if we get a flat SP02H futures OPEN, followed by a dramatic selloff, I'd expect a short squeeze, "hammer" looking candlestick by end-of-day... tough - gotta try to pick the bottom/turning point... Chicago boys gotta at least try to execute some kinda buy programme around Jurgen's magic 2.00 o'clock... can't let the BEARs just sit back and short the bitch, have their way with it!
...if we get a flat SP02H futures OPEN, no selloff or, "morning attack", I might enter a STOP-LIMIT BUY order just above OPEN in anticipation of a short squeeze or rally attempt later in the day.
else, we're toast, Dude: it's broken ~ no winners, no exit
GOOD HUNTING & GOOD LUCK
-Steve |
