Gordon Zekko,
O.K. boss, here's the call for the week. Back in sync now with the buy in the low 70's and sell the high 80's call for the second half of Friday. Post Super Bowl selling on Globex should find support around 1279. Then we see a rally into the RTH open up to the high 80's if not slightly higher.
From late a.m., we should see another selloff into the late afternoon that should take her back down to between 1265 & 1273. That dip, YOU DO want to buy (just like the last one that you still haven't paid me for <g>). From the final low in that area late day Monday or first thing Tuesday, we should get a rally back up that should take it to between 1282 & 1297. I'll be betting on the high end of the range, and expect the peak to come in between 12:30p.m. & 1:00pm Tuesday. That peak, YOU DO want to sell, as that will mark the high point for the rally that began last Monday.
Feb. 2nd is the next Bradley turn day. Tuesday is Feb. 2nd. 5 day Trin closed under 4 on Friday, issuing a quality sell signal. The pattern we've formed since Monday is a 5 wave ending Diagonal. That pattern always precedes a rather dramatic decline. We are completing wave 3 by tomorrow a.m. (the high), will complete wave 4 by late Mon/early Tues (the low), and will see a final wave 5 zig-zag that should complete by 1p.m. Tuesday somewhere north of 1290. From there, we begin the DRAMATIC MULTI-WEEK slide down in what will be the payoff for this blowoff action we've witnessed. (Downside targets no lower than Oct's lows, with minimums in the 1200 range. 1140 is awfully likely to be seen).
Good luck, and don't step on me in the pits! <g>
Buddy,
P.S. Blue Star needs a fresh capital infusion, got any ideas?
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