Sunday, October 4, 2009

Can it be more clear than this?

Please see my Saturday post for actual commentary :)

5 comments:

Mike said...

Looks good, may be setting up for a 1-2, 1-2. 104.50 could be a good short...

mdszj said...

pokerden

I saw your blog from traders-talk, pretty interesting. I dont really get into EW too much but your scenario seems very plausible. I use this guy very often for his S/R levels. Looks like there is a major $SPX S/R level at 1039 and then the 20 sma at 1049, looks pretty close to what you have.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2684038&cmd=show[s129091841]&disp=P

Pokerden said...

Looks a little like the two sweeties stuff from before they went pay only.

Its interesting how fibs often work out to support/resistance levels and vice versa :)

I have some calls that were picked up on Friday and waiting to about 104 on SPY to flip short.
-pokerden

Jason said...

Nice call on the count. I assume you are short now. Do you think higher highs are coming on a break above 1064 then this week then.

Pokerden said...

Not quite short yet, I still have calls but I will probably flip short tomorrow.