Friday, December 09, 2011 2:21:02 PM
Hi Bob
I wanted to update that Daily chart in a couple of ways and not wanting to start over in recreating all the aspects I just extended the Bow Tie lines and added the orange extension of the Bearish Fork.
Not really happy with how the Black Bow Tie lines look but for now they stay as is because I'm not ready to throw a way the Orange fork. I want us to clearly breakout from that Orange extension and then it will go.
I am Bullish here but not in a big way. Next week we have Option Expiration to deal with and right now 125 SPY or 1250 spx would be the target in my book. So if we go up we will come back or vice versa. Next Friday should see us in this neighborhood.
Looking out to Jan Expiration I would Ma-Pain right now at 126 spy or 1260 spx.
I wanted to update that Daily chart in a couple of ways and not wanting to start over in recreating all the aspects I just extended the Bow Tie lines and added the orange extension of the Bearish Fork.
Not really happy with how the Black Bow Tie lines look but for now they stay as is because I'm not ready to throw a way the Orange fork. I want us to clearly breakout from that Orange extension and then it will go.
I am Bullish here but not in a big way. Next week we have Option Expiration to deal with and right now 125 SPY or 1250 spx would be the target in my book. So if we go up we will come back or vice versa. Next Friday should see us in this neighborhood.
Looking out to Jan Expiration I would Ma-Pain right now at 126 spy or 1260 spx.
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