Esteban; RE:" SPY... "
You're right, esteban - looks exactly like the OEX... Look at the previous top there, man - a very rare, almost triple Doji Evening Star (!)
Forgive my ignorance, but what *is* SPY, anyway? "AMEX Standard and Poor's Depository Receipts". I mean, how does it work, really ?
Obvously this thingy is the S&P index in "stock" form that people can buy and sell. That's cool.
Anyway, yeah - he's almost small enough to be a Doji, really; and it is interesting that he looks like that, whereas the OEX didn't make such a Doji-like candlestick. You've taught me something important here, Esteban - I'll be watching SPY very closely hereafter.
What can we anticipate next in (the SPX) SPY ? I would guess either a Shooting Star or, just a plain old bearish candlestick. I'd be surprised by another bullish white candle, unless the NAZ somehow just kicks butt on Monday.
So I guess you are in the same position as a LOT of the index traders my friend; a lot of them started buying PUTs on the OEX on Friday, and that Bullish Evening Attack caught everybody by surprise.
-Steve |
