sp'15min
Summary
Opening gains, and underlying short term momentum could have us stuck in the 1815/45 zone for a few days.
See the following...
sp'daily5
I'm starting to wonder if market won't hold up..within a bear flag - much like late January. A few days stuck under the 50 day MA..and I'd be VERY comfortable in shorting this..for another wave..to the 200 day MA - to be hit next week.
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I remain on the sidelines, but will consider picking up a short-index block today, if we get stuck in the low sp'1840s. It really depends on the style of price action.
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Having computer issues..if I disappear today..thats why!
10.16am.. 15min cycle in the target zone..and we're already seeing a reaction lower.
10.20am.. well, thats a 9pt reversal already, in just 20mins...
No one wants to buy >1840.
10.37am...minor down wave complete...now another move into the 1840s this afternoon (I'd guess). By then, the hourly chart will likely be maxed out.
*computer issues are almost as annoying as the Fed.