Replies to post #187124 on SPDR S&P 500 (SPY)

[imiloa]

ditto. am hoping my flight has wifi, so i can trade the morning and eject on a gap and run rally.

[risk on]

Yes, good points, and another important spot just now, the T Line crossing through the mid BB on the monthly, well spy had best get to dropping before Feb ends, because I just checked and there's no daylight between the two. The monthly 9 EMA is below the mid, but the lines are touching. Even in March 2008 ( first month after the cross) with the month ending on an up swing and the 9 EMA running somewhat parallel to the mid BB, there was still daylight. Also, never has the monthly cross occurred, and the lines not move apart thereafter , let alone close back above in less than a year APX.

[USDollar]

if you look Oct d50 resistance attack overall formation of chart vs now is not the same, it starts to have more and more differences and cracks

I'm thinking p tomorrow at 194 to 195 zone using some sort of ST like imola's 2 min

weekly is black so far with more than closing the weekly gap
Also a major difference vs oct when the week that gapped (oct5) kept going up with no looking back revealing strength and commitment

Also in a weekly chart is easy to see that these (Oct and Jan) are major drops and very close to each other. The proximity may have induced a lot of pain for big money that was caught holding and will more than likely convince a lot to bailout at 200 and above IF Mr SPig makes it there.

If this downturn again from near 200 (after lots big money bailing out at 200 and stepping aside) it will be a downturn with a vengeance and will likely take the Aug15 lows for a test. This is more or less in line with monthly which few posted all along.

We need to take this one day at a time and one cycle at a time. It's a waste not profiting from bear rallies, and a bigger one not riding it down in puts or worst being caught in excitement and in calls.

Today weakness was NOT oil driven by the fact that Oil rallied about 2% or 3% off the lows and SPig kept going lower.
So whatever that was it was real and still there and no one yet found out what that was, so we're still exposed to that influence. And with oil already bounced and neutral and ready for more downside it will only add to the down forces.

I think tom is going to be a good day for p taken at a weak inflection point just as today was with the bottoming
Only I think tomorrow will likely have follow through and take out this day lows.