Friday, November 13, 2009

SPX Today

UPDATE - DXY 60m - Someone this morning mentioned DXY at an upper trendline. 60m indicators are bottoming with a slight possible divergence on RSI, but MACD looks sick here. There is also a larger divergence in the daily RSI going back to the last low indicating a possible pop. The 15m shows a possible H&S (yellow broken trendline on the right is neckline) that could possibly take it to 74.64.





UPDATE -Ugly chart of the minis, but using it to illustrate A) the divergence in RSI that appears to want to hold here B) the intersection of the P2 wedge (blue) with the upper bear market trendline (gray) and the Gap from 1007 to 1009 (est). The heavy red line at support was the 38% retracement of the C wave up (Makes for a nice 4 doesn't it - Green channel down).

No prognostications now as I am leery of opex, volume and the dollar right now. A top could be in, everything is in place, but - what has kept me right the whole way up and kept me from calling tops - brother Benny and GS manipulating the crap out of everything.  - not ready to go against them yet.




Either 2 or 4 of 5 is my call. Will go into more detail this weekend - Really tough spot with opex next week. Could get more downside than I expect.