Replies to post #160133 on SPDR S&P 500 (SPY)

[risk on]

Am I missing some scheduled big fed announcement this week? Or is it just a monthly meeting? Chart clearly shows that anytime the fed has spoken lately it bodes well for puts.

[gratitude]

what's the deal with QE4? why do ppl wait for an announcement on this? did the FED even hinted at it as a possibility????

[Caoi]

I think even without QE the fact that the long rates continue to fall means more corporate cheap money for buy backs, increase eps and low cost acquisitions.

I got caught up in the " daytrade" 5 and 15 minute charts. When i look at the hourly chart this SPY has the potential to break above resistance( still many hurdles) . I will not buy any puts longer than lotto weeklies unless we break back down.
I think we go higher.If by some miracle we get back in the long term channel watch out above.Of course China could collapse next week and we could be under 180.
I keep an open mind and each day will add a piece to the puzzle. The trend has been broken and is still bearish but Friday was scary for the bear.
I just wish we would have several days of hard buying or several days of selling to create some easy to spot exhaustion. We keep getting violent 1 day directional changes followed by drip, drip,drip.Which is the classic sign of the start of a bear. So the more i type the more agnostic i become.