JI
jimkane
Rep: 3,058
Posts: 33,089
At least we have a Sunday session to work with... Given the run up into the aftermarket close on Friday and the 'news' that the joint Israeli/US military exercise will be postponed, the market could really gap and run. On the other hand, we are hitting into a super-key area for the intermediate-term, and if the 'top' is in, this is an area it really should roll down off of. I think we are at a crucial time/area. I'm looking forward to this week.
JI
jimkane
Rep: 3,058
Posts: 33,089
I'm hoping it doesn't. That would open it up to some real selling. 82-84 is a big area.
JI
jimkane
Rep: 3,058
Posts: 33,089
89.25 here is a key .447. Below that I'm watching 87.25-88.00. That 82-84 area is a big one. I would love to see it get there today.
JI
jimkane
Rep: 3,058
Posts: 33,089
But this is right at a key price flow here, SL, and other lines. It 'needs' a bounce. If it breaks down from here, it will likely be a fast climaxing move (as far as the short-term), in my experience.
JI
jimkane
Rep: 3,058
Posts: 33,089
Oh, yeah. Fully hits the next level. I love when level after level get hit and taken out when I'm playing off a bigger area and trend move. Okay, there goes the level. 82-84 is coming into a realistic view for today!!!! Yeeeeee-haaaaaaaaaaaaaaaw. Man, am I excited.
JI
jimkane
Rep: 3,058
Posts: 33,089
87 here is also a 'line in the sand' based on totally different techniques for a reversal or trend continuation for the remainder of the day. If that level gives, it implies, based on some other work I have done, that it will continue down. So, this is do or die based on that work.