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Steve many a times you are asking me a question and I am dealing with it already in my reply, please see OJ's post, 1328 was pits plan a dip well identified for any surprise lot of short open orders were waiting to be filled, pits never disappoint anyone they dutifully filled them up and brought the market back up and beyond my 1364 level, now this has to be the support today if we break it we will need a solidly two days close to expect the move to 1430.. area.. Lets watch and see the surprise we thought we would see today a touch of 1328 and test of 2520 band did not come , I expect the numbers have lost that significant market shaking opportunity, they just don't have the ability to rock as the orders of short were just wiped out clean, now only a fool will leave an open order to short they just were forced to cover at new highs, without big open orders it is rare that the pits may run them down, the ability to do that again is damaged now we need some real core inflation threat where we may break and not recover 1328.. the 45 minute test may fail,, that is what you should look for. an indecisive number will lead SPM to 1355 support and we will have rest of action on Friday....enjoying the market and most of all enjoying the education it provides me every day... |
