Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 670.21

-1.1%

4:00 PM EST

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To: GROUND ZERO™ who wrote (43272)	1/7/2013 12:45:07 PM
From: robert b furman	1 Recommendation Read Replies (1) of 218514

Hi keith and GZ, Attached is a chart that high lights the wednesday of the week before option expiration to the day before (friday) of the saturday expiration. these time periods seldom go to near highs after being overbot. They do but they have not done it twice in a row.This move if it went to a new high would be going up to a new high a second time (double top). It would require a very strong market to do that. Not sure with the debt ceiling we'll have that much of a robust market pushing up prices. It may well give us a short term on expiration but I'm inclined to think we'll slip some here in this somewhat oversold level. A retest of an old past high often slips back upon touching it. In short we may need some digestionhere. screencast.com Bob

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