Friday, June 5, 2009

SPY pivots and prediction for day

SPY pivots are horizontal light blue lines.  We started out at R2 and quickly dropped to Pivot.  Now we have come back up to R1 but a lot of trouble getting above this level despite the positive NFP news.

My projection is that we drop back top Pivot 94.17 today (after hours included), but my conviction on this is weak.  Money looking to get back in and market internals have been strong, so some buyers might be found into the close.  I know; terrible to hedge this.  Gun to my head, we drop to 94.17

 Gold and reflation names hammered, but coming back.  

[BTW, my *single* friend Eric is much smarter (and probably better looking) than I am, and apparently has a penchant for beautiful Turkish babes.  His site is worth the trip.]

1 comment:

  1. LOL.... I may be Fitter.... but I feel like an old shoe 90% of the time...