iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,040 Blog Posts

Auction Complete – Waiting for Hand Tip

The morning trade in the S&P played out in the constructive manner I suggested in my morning posting.  We’ve seen a thorough auction of yesterday’s upper range.  The market has sustained these levels even with the overall weakness from the financials.  I think that adds a layer of constructive bullishness to this mild mannered auction.

There are only three scenarios as we wind down into the close of the week:

  1. Close within the auctioned range from today
  2. Upside breakout
  3. Downside breakdown

Scenario one and two are both bullish.  However, should scenario one occur, I will be more apt to scale long exposure off.  I would consider such a move a bit euphoric.  Scenario three isn’t damning to the bull case unless we lose the key support I referenced this morning.

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2 comments

  1. Sooz

    😉

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  2. elizamae

    “I’ve, Ive had a long day man…an…and I really hate the fucking Eagles, man”

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