They foiled the head and shoulders topping pattern which is usually bullish, but I have a feeling it will be a whipsaw kind of day. Futures should find resistance at around 4k in the morning session and then another test of 3900 next week to take out stops (yellow arrow). A bigger sell off would likely get us back down to 3800 by Thanksgiving (red arrow). I don't think the rally today will continue past the previous high of 4050 - as of now.
Good luck!
Good luck!
Komen:
on SPY if the red path is taken we may fill the gap by next Friday, improbable but possible. Would have to be a news event to trigger such selling during a holiday week.
Komen:
put/call back down to .73 yesterday
Komen:
expecting a short covering open.
Komen:
B wave (if that's what it is), may be done. We're now at the lower support again. Price getting above today's morning high would invalidate this idea.
Komen:
spy filled it's gap, bulls don't want to see that level taken out now that buyers stepped in.
Komen:
AAPl structure looks complete as of now.
Komen:
SPX broke under support and retested it, maybe more selling from here
Komen:
hanging man candle on the day for spy
Komen:
doji on SPY weekly
