SPDR S&P 500 (SPY)

[2bit-nothing]

Fox,

I don't trade OEX for nothing...it represents Oil/Finance/Nasdaq/Dow...and according to Scamman,
OEX options have the best bang for the buck.

Right now I am thinking if it were to turn, it will
form the right shoulder of a H&S pattern topping around 500 and that means mid-Nov is a high, not a low. If it takes out 500 then it will go to 520.

A continual down from this point is not convincing, it is a downward sloping bullish channel and it is riped to move up. These channels never fail. The one day up and the next down pattern is clearly blatant manipulation. It just has to reach the long term channel line. I had this haunting feeling this down turn would reach that line and it did.
As people say all you need is a pen and a ruler to make a million and it is damn true. The only problem with swing trading is how many would still hold a short position while you have 200 Dow points against you.

I was above water on Thursday and now I am under water, but after looking at all the indicators, I did a one-two punch to add to calls. will see what happen next week.

2bit