Click image for original size
LO
Lorn
Rep: 16,037
Posts: 1,406
Weekly RTH profile leading into Friday. I'll note the gap from Wednesday was never filled.
KO
koolblue
Rep: 48,651
Posts: 16,032
According to Stock Trader's Almanac, day before Presidents Day weekend, SPX down 16 of last 19 and February Expiration Day, Dow down 7 of last 11. And remember the seasonality chart...
Click image for original size
KO
koolblue
Rep: 48,651
Posts: 16,032
And fwiw, from palisades...Daily forecast for the S&P500 and Nasdaq 100 indexes:
Forecast Made: Forecast For: Direction
February 17, 2011 February 18, 2011 flat to lower
(Remember to reload your screen if old date appears.)
Probability for next day:
Up Probability Average amount (up) Down Probability Average amount (down)
S&P 27% .37% 73% -.36%
NDX 36% .33% 64% -.35%
Forecast Made: Forecast For: Direction
February 17, 2011 February 18, 2011 flat to lower
(Remember to reload your screen if old date appears.)
Probability for next day:
Up Probability Average amount (up) Down Probability Average amount (down)
S&P 27% .37% 73% -.36%
NDX 36% .33% 64% -.35%
KO
koolblue
Rep: 48,651
Posts: 16,032
Sure wish i would have waited for 1339! or even 1341.50,anyway 1339.75 is where my stop is...ugh!
KO
koolblue
Rep: 48,651
Posts: 16,032
I should point out, as it stands right now, the above chart showing the down projections is still active untill 1340.00 is touched or exceeded... which seems likely of course.
KO
koolblue
Rep: 48,651
Posts: 16,032
projections still alive, but im not..stopped 1339.75...loss of 2.25 on 2 es, down 4.5 on the day ugh!
KO
koolblue
Rep: 48,651
Posts: 16,032
AHHH..perfect!..long a couple at 1338.25..will take one off at 1340.00 and hold the runner