Saturday, October 13, 2012

SPY - Bearish bias

Double top?

Under 143.30 i will sell any rally, targeting 140.35 and then 200 days e.m.a. (Friday at 135.75).






QQQ - Under 67.06...

Two scenarios:

- Price regains 67.06, i will stay neutral and will wait for a short term bounce.

- Price will not hold above 67.06, i will sell any rally in any time-frame, targeting 65.5 and 64.35.



S&P500 - 1430 tested, now 1396?

As said during the week trading days, i am bearish in all time-frames with SPX under 1430.
Market is also short term oversold, which might let the bulls fight back a bit... Above 1430 expect 1444 or even 1451...