Replies to post #17539 on Market Sense and Sentiment (MKTSS)

[bbgold]

Looks like you nailed it

Sitting at a short term double bottom but another gap down could signal a longer term island top and retest the bottom of the trading band. Will see how the markets react on Wednesday as it could be a Max Pain rally day, no rally then most likely keep selling, or a rally back to resistance could start selling again. I will be out of town until next week so I hope you can ring some kaching. Will have to see if we keep see-sawing back and forth or start slipping.

Good Trading Bernard!
Sincerely, Bob :^)

[RCKS]

Hello Bernard

I am in Puts on the spx here from around the 1279 level today and I may or may not hold these longer term, they are Sept's.

Here is a chart from Jack of all Trades on SI that shows forks on the SPX and my targets for this fall I believe will come very close to the midtine of the large red forks.

http://www.ttrader.com/mycharts/display.php?p=40473&u=joat&a=Jacks%20Charts&id=202

Just curious about your take with huge price swings of the past few days.

Good trading Bernard

steve