Thursday, August 20, 2009

Pre Market /ESU9

SPX ran up to just under gap resistance on the hopes that the jobs number would be better than expected. Since it was not (or it was not as manipulated as in the past), we have the reversal (as predicted by the 60m indicators in the chart from last night's post). Those that got in pre-market this am got great entries I believe. The fat pink line is the 61.8% retracement of the fall off 1018. Not sure about the channel, but that to trendline is rock solid. 987 is the fib retrace target of this run up.

I really want to welcome new follower "Mastt" and give him Shanky's award for Best Blogger Photo Of The Year. That will make a GSEC stand up!

GL today.

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2 comments:

  1. UnknownAugust 20, 2009 at 12:03 PM

    shank, thanks for updating ung chart

    you sound a bit more optimistic

    couldn't take out 11.91 low either

    ReplyDelete
  2. ShankyAugust 20, 2009 at 3:54 PM

    WM - Thanks - I'm keeping a closer eye on it. If I forget or you want an update let me know.

    ReplyDelete

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