Financial history doesn't repeat itself, but it often rhymes.
You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
Friday, May 23, 2008
SPY by the day
this is a 30% retrace so far... I still sort of stick to my guns that this is just a 4th wave sell off.
this is a 30% retrace so far... I still sort of stick to my guns that this is just a 4th wave sell off.
$138.20 support is shattered. TK is still looking for relief rally... and as much as respect his judgment, I just don't see it coming.
ReplyDeleteWhere is the next support? If this is a wave 4, does is end at $132?
if this is wave 4 this needs to end.
ReplyDeleteThere is a ton of support from 137.5 through 136...
and support through 133.
this market will have a hard time working through those levels.
I think today is just the market wants to be on vacation..
and you know what... we are going to get a short covering rally in everything through the close...IMO