Wednesday, April 14, 2010

Morning Post, SPX, S&P 500, E-mini

Houston, the Eagle has landed. That is one small step for man.....

Earnings Calendar - GOOG tomorrow after the close.

Economic Calendar -Inventories and Bernanke at 10 and Petrol at 10:30. Tomorrow is a really big day.

Pivot Points - Know 'em.

E-mini - That would be 1200 at the bear market corrective's upper resistance line (yellow)and at the top of the recent channel trend (Pink) .  One down, one to go. With the minis up 6 at this point we may actually get a GAP UP open. This is not normal folks. We're coming into this open overbought on the 30m. The manipulators moral compass must be off this morning. Maybe they are just gonna give the bears a full frontal to show their dominance today.

According to TA and valuations there should be a sizable corrective here very soon (like we're waaaay overdue). Upside from here should be limited cause there is supposedly no cash left to invest in the world (well, real cash anyway). I'm just gonna keep playing the 30m indicators up and down till something real happens. Rip down, melt up. It really is amazing to watch 'em work. We'll have the 1200 SPX hurdle out of the way at the open.