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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Take the Test Seriously

chessNwine Thu Sep 15, 2011 2:26pm EST 3 Comments

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The market is squeezing through the psychologically important 1200 level this afternoon. However, we are currently right at 1204 on the S&P 500 which, as I discussed this morning, would likely be the site of a fierce battle between bulls and bears. After lagging for the past few days, the energy/material complex is starting to act better. Underneath the surface, some technology names are not quite keeping up with the senior indices as well. Hence, I am inclined to think that the action tapers off into the close and perhaps for Friday too.

Either way, I view 1204 as a big test and I am taking the process–and outcome in either direction–very seriously.

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3 comments

  1. Raule
    Raule
    September 15, 2011 at 2:31 pm

    Religion class – the perfect venue for abandoning logic. LOL

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  2. drummerboy
    drummerboy
    September 15, 2011 at 2:35 pm

    roflmao

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  3. Blind Read Ant
    Blind Read Ant
    September 15, 2011 at 2:37 pm

    I’m longing some $VIX calls.

    Something profound about the post’s picture Chess (rubbing eyes).

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