Been expecting a decline into this week, like you, Steve. I was thinking 1250 ish June contract, but lower also makes perfect sense.
I don't get the 'rebound' calls right here. 20 points or so at least would make a nice neckline for a RS bounce, yet the usual head and shoulder callers seem more than willing to overlook it.
Hey Dark, The rebound could be into Friday expiry to kill the bulls, then kill the bears. Standard operating procedure for expiry IMHO. But it might not be much and back to OSO (mexican code word)
Fine analysis, rare, all bloggers long/calling for "rebound"
ReplyDeleteBeen expecting a decline into this week, like you, Steve. I was thinking 1250 ish June contract, but lower also makes perfect sense.
ReplyDeleteI don't get the 'rebound' calls right here. 20 points or so at least would make a nice neckline for a RS bounce, yet the usual head and shoulder callers seem more than willing to overlook it.
Rock on.
Excellent analysis as usual Steveo.
ReplyDeleteI am looking at a 1160 target on the S&P.
Sovereign debt problems are growing and so is the wall of worry.
http://whatisthatwhistlingsound.blogspot.com/2011/06/sovereign-debt-superstorm.html
Hey Dark, The rebound could be into Friday expiry to kill the bulls, then kill the bears. Standard operating procedure for expiry IMHO. But it might not be much and back to OSO (mexican code word)
ReplyDeleteI am lower than that for a quick drop and pop
ReplyDeleteToo bad this stuff actually matters in the real world too.
I just shorted the bajeezes out of Euro, 1.442, intersection of two very important lines, see new post.
ReplyDelete