Monday, July 26, 2010

Bulls Vs Bears?

OK, did you stare :)) did you have coffee and stare?  maybe a beer and stare?  Well I have had a few pots of coffee and sat and stared... at the left shoulder for several hours actually figuring time/price, distances up and down.. it is interesting 
Let me give you some #'s for the start of Mon. compliments of Smart Traders site  7-26 $SPX  resistance  R3=1119.58  R2=1134.60  R1 1118.63     sorry that was weekly Resistance   for Monday its   R3 1119.58  R2=  1113.94 and R1 1108.09   Support #'s for Mon are  S1=1092.45  S2=1082.24  S3=1076.60   

There is just a few comments that I forgot to put up when I first put this up...  Volume is light, very light.  So, my buddy I trade with is very Bullish, hence forth, I am a Bear at heart. I  can swing with the charts believe me, but I like VOLUME, so do we go higher...sorry this time its a flip of the coin.. but big moves always happen when volume is void. Higher is probably in at the moment.. but, we are oversold on my 5min chart.. so we start off higher then turn lower late morning... there is alot of good stocks giving earnings before the bell and after... I am jumping out if we go higher by noon.. I was asleep Fri when the mkt took off.. so I was not able to jump out on Fri like I had told all of you to do.. but I will today.  Good luck, to all of us, but as I have always said.. if you are too scared of loosing your $$ just get out.. best move anyone can make.. I just try to say it the way it is. Think positive during these kinds of moves.. hard to get too upset anyway these days...LOL!  good luck today. >L

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