Morning Gang!The SPX is attacking the 50 dma, is the 2nd time since DEC. The 20 dma is at 871 which many of you saw me take the short against it at the close as this is a Holy grail setup. I expect us to test the 50 and possibly all the way 854 square out. If we are truly in a bull mode we should find a low and advance back thru 50 dma. I have a cycle turn around 2/20 and expect the rally to stay in place. I will be watching the ORB closely today. Interesting that 874 is a time square that I missed yesterday and need to see how the market reacts from the number especially since it was magnitized to it. God geometizes. Hit em Hard!
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I totally agree! we always pull back hard from the 50 DMA that's why I took short position. I am going to unload half at 850 level and try to find the direction with other half. if we are in bull mode i will go long and close out all my shot.
ReplyDeleteLove your analysis keep up the good work bro.
Hello.
ReplyDeleteDoes the close under 850 change your outlook?
What's your line in the sand?
Thanks,
JT
will see after the weekly close
ReplyDelete