Dow
Sp'daily5
Trans
Summary
It looks like the market makers may have been playing some clever games this afternoon, pinning the Dow to destroy as many of the weekly option positions as possible. Dow 14000, I'm sure they are very pleased with themselves this Friday evening.
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There is little else to be said.
It was a somewhat compressed week, the Tuesday highs really capitulated a few. The two day reversal was somewhat impressive, yet..Fridays action negated half of the declines.
I realise some would merely say its a 50% fib retracement of the first wave lower, and I can understand that outlook.
Yet even if we do somehow see a further down wave next week, into the sp'1490/80s, I have near zero doubt we'll be breaking sharply higher in March..and probably April too.
A little more later...on what was a marker day for this site.