Too All= mrkts are trying to hold up until early April, as i said in a recent post. whether they make it is up to traders, these recent actions are not being taken by investors.
right now i went flat this afternoon, for the moment, as we seem to have an inflection timing coming. i am very cautious here as i have had good profits into here.
next week is Options Week and the innocent traders are very very heavy on March and April Calls leading into next week. that will tend to cap the moves until next week is over, and then it will have an effect in capping April Options week too.
we also have March 23 timing that Fed can offer Citi stocks for sale that will have a capping effect. as will Apple's Announcement around April 3.
so we have many Capping actions over the next few weeks.
some analysts have called for a topping pattern between 1130 and 1150 so many institutions will be extra cautious as we are NOW THERE.
As you know my forecast charts made in July 2009 posted above, called for high resistance around 1200-1250,
Trade at YOUR OWN: Risk, DueDiligence, RiskTolerance. Trading Responsiblity is Totally Yours!
You are Spending Your Money, no one elses! Be Wise, Be Thinking, Be Deliberate!
Be Lucky, Chichi2
