875 has now become the all important number in the S&P 500:
The transport index still displays an inverse head and shoulders pattern, the bull case is still intact as long as we do not breach 3,000:
And, XLF, the financials are now fimly above the 200 day, with a little good news from Goldman Sachs Group, Inc. [[GS]] , the index can easily break through the 50 day:
The momentum is picking back up in the bulls favor here, it all depends on a few key earnings reports. My money is on the bulls, I am currently net long.
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Thanks for the update Ragin and good luck on that PARD play.
getting impatient with PARD, about to cut it soon. Dubz, what are you trading today?
GDX, motha flickazzz!
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I went net long today as well after stopping out of SSG for a 4.4% loss… Tough loss, but I think I’ll be better off in the long run. Not going to get away with trading iETFs this week if the Financials actually blow away estimates and momentum (like you said) begins to pick up again.
Hell of a technical hold today on the $SPX.
I came up with 870 is the number that would indicate the next move would be a 5 count wave to the downside. But essentially I’m in agreement.