Hi Ratan,
Chief harpooner, how ya been? Glad to see your still armed and dangerous...
I've had my eye on globex S&P tonight, and realize it is down, but that's quite alright, and would expect it to be down after 2 severe down days like we just had (residual selling). Asia is down as well, but I believe Europe's reaction to Asia will be more important to our markets when they open, so I'll be closely watching how the Euro markets behaved, especially in the closing hours.
As long as the June S&P doesn't spend more than 30 minutes below 1109.5 during the day session(Friday's low), I will stick with my read and play it accordingly. If the market spends more than 30 minutes below this level, I would assume there is an extension to the A wave, or a B wave that will not produce a tradeable rally.
I won't be able to post during the day tomorrow, but will be around later Monday evening.
Good Luck!
David |
