Zeev's Turnips Patch-No Politics (ZEEV)

[shoreco]

With that said, it looks like 1125ish is "the magnet" for the SPX and the index just might trade sideways for days once we get there to wipe the slate clean (kill the premium)...

I've been looking for SPX 1125ish for 2 weeks now trying to scale into a short position, but I refused to chase the move down and found myself on the sidelines since covering @1110 the first week of July (From 1140)...

Something looked a little different today (Greenspan waving the pompoms maybe) and I decided to go long @1106...

I'll probably use slightly under 1100ish as my stop and look to get out in the 1120's. After we consolidate there (this is the plan for now...LOL...) I will look for some short set ups...

Of course if we G&C tomorrow than a waterfall move could be in the works, but I think we see a multi-day DCB for now...

If this is the real deal, than MSFT will have to hit another homer on Thursday and volume should accompany the move higher...

EOM
Shoreco

PS
The more things change, the more they stay the same...

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[r,a]daclyyay[pb10!b20!b35!b50!b100!b200!c200][vc...