SPDR S&P 500 (SPY)

[2bit-nothing]

YRT1,

Today's sell off was expected as I have mentioned in my last post. This action is to release tension from the rising wedge. I did not play the index option knowing a sudden drop like today would occur. The A/D survey has shown a flatliner as of close EOD yesterday (looking back I did not take the cue, hindsight is 20/20...that is why I say 100% accuracy would incorporate one's trading behaviour...All in all, nothing's broken in term of trend. Now, going forward one would expect further down stream. However, let me offer my 2bit nothing advice. The A/D survey is still flat and momentum is curling up and although the market fell so did VXO. This is important, I'll let you think about this...

Now GS, I was away the whole morning and missed the shorting action but added GS Call options. Since it has broken the long term MA it now becomes resistance and the near term target is 168.61

2bit