SPY pivot reached, as predicted.

SPY has fallen to Pivot, as predicted one hour ago.  It may go further, but I'm going to ride my bike. 

It's been a great week.

Monday I'm in Chgo to watch the Sox beat up the Tigers.

See y'all Tuesday.

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.]

SPY pivots and targets... [UPDATE]

SPY pivots.  SPY showing constructive pattern, although low volume. Now we have broken above R1 (94.26) after touching it all afternoon.  R2 = 94.87 and that's the target before we pullback.  I'm liking that for today or after hours.

If a break below the white trend line, then look for pivot (93.51).

NFP tomorrow?  Not sure the buzz.

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UPDATE   June 5, 0716hrs

After hours, SPY hit the target as predicted 94.93 now.  Take any profits on daytrading account.

Update: Pivot trade SSO

SSO pivot trade.  I sold at 21.07 at about the half-way mark between S2 and S1.  Due to the late hour, I closed the position for 21 cent gain.

After I got out, SSO took the gas in advance of AA's earnings. The market remains short term oversold.  I did add SY near the day's low.

Live Blog: Pivot trade SSO

SSO pivot trade.  SSO's Pivot S1, S2 are workable today and I will post these instead of SPY.  SSO at S2 again and market oversold.  We successfully traded this in the morning for a profit.  Now we will try it again.

Stop is 20.70 with avg price of 20.86.  Target is S1 of 21.28, but will likely sell half before the target.  This is day trade and will be closed before 15:45 hrs EDT.

Update on Live blog pivots

SPY pivot.  Sold at S1 for profit.  I could have opened a short sale (or SDS) at the first full bar below S1, but I did not.  I would not open another long until the first full bar above S1.

Live blog: Trading pivots

SPY pivots.  I've been looking at pivots and bounces over the past couple weeks as a means of reading markets since the visual support and resistance lines I've been playing with have not worked very well.

Today's pivot is 83.23 based on yesterdays hi +lo + close divided by 3.  S1 is 82.66 and S2 is 81.71.

With the low volume open I decided to watch these levels for fun and see if there is a bounce.  I bought SSO when SPY was at 81.78 after the first bounce off S2 (I did not figure SSO's pivot numbers because it isn't a pure index and is figured on derivitive of the SPY.)