Friday, December 13, 2013 4:33:22 PM
Closing Bell Reports:
The SPX Weekly closed below it's UTL. So Monday morning the Weekly could open in an Unconfirmed P1, also Monday I will still be looking for a 60 min P2 that could negate the Weekly P1, also Monday a Daily low is due, the projected low is 1751.97, this could put the Weekly deep into P1 territory, also next week a Daily P2 is currently projected to start on Thursday, this also could negate a Weekly P1. So next week could go either way, there is no current clear long term direction. If you look at the closing bell chart, look at the Weekly & Monthly MACD's, they are at historical highs, the only way to bring the MACD down is for the market to slow down. So I expect the volatility to continue over the next couple months, which will likely result in longer P1's and shorter P2's at the 60 min & Daily time frames. During this vol-ital period I expect to go in and out of SPXL short term, and will be trying to improve my SPXU positions which I am expecting to be profitable next year during the Weekly & Monthly corrections.
The SPX Weekly closed below it's UTL. So Monday morning the Weekly could open in an Unconfirmed P1, also Monday I will still be looking for a 60 min P2 that could negate the Weekly P1, also Monday a Daily low is due, the projected low is 1751.97, this could put the Weekly deep into P1 territory, also next week a Daily P2 is currently projected to start on Thursday, this also could negate a Weekly P1. So next week could go either way, there is no current clear long term direction. If you look at the closing bell chart, look at the Weekly & Monthly MACD's, they are at historical highs, the only way to bring the MACD down is for the market to slow down. So I expect the volatility to continue over the next couple months, which will likely result in longer P1's and shorter P2's at the 60 min & Daily time frames. During this vol-ital period I expect to go in and out of SPXL short term, and will be trying to improve my SPXU positions which I am expecting to be profitable next year during the Weekly & Monthly corrections.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
