1:10: Now that they’ve move around a little, we’ve got stuff to work with…
The gap is 455.49 and below depending on which chart you look at…
It’s not been filled.
It’s no longer support since they bounced in front….
Below the gap, if they should do that is 454.25 give or take…
There’s stuff before that, but not that I’m willing to purchase for a trade…
Resistance is suspect since they just got here today, but from where I sit, 456.85 is the pivot for now…
Getting above opens the door for a test of 457.55 give or take…
Back as needed…
12:56: Checking back in…
Here’s what happened…
Instead of going to the big phat round numbers, Trick & Co. showed up and kicked em’ back to the gap left open yesterday…
We kinda discussed that earlier…
Where was support this morning?
At the gap and not before…
They’ve come up short, we know that one…
It’s either bullish or they’ll be back…
Watching and will be back with more…
11:18: No change…
Back after lunchtime to check-in.
10:30: No change…
They’re headed toward the big phat round numbers…
Whether they spike through or come up short on the first run is an open item…
Low volume, quiet tape…
The path of least resistance is sideways to higher…
Back as needed…
9:47: So…
With Stocks on the Move in the books and the SPY in float mode…
We’ll be quiet until there’s something material to say…
Back as needed…
(Treating it as a business, keeping the profit in the pocket…)
9:45: And GLW off the second price provided those painting by the numbers another base hit…
Those who only purchased the second number took an extra bag…
9:39: As for the SPY…
She’s floating toward what?
The next big phat set of numbers…
They won’t do it in a straight line and we should expect a visit from Trick & Co. in the process…
However, that’s what’s going on at present, until something changes…
9:38: And, XRX did the deal…
The rest is traders choice…
Hey, we had a nice day in the first candle…
9:36: Nice bounce on WM, regardless of whether you painted by the numbers or not, they’ve provided the base hit, too…
9:35: Nice trade on LMT…
The rest is trader choice…
9:07: We’ll let em’ go at the open, but traders should understand while in no mans land (new highs)…
Traders need not focus on the S&P until she develops some new “important numbers…”
Or, they get busy falling into a support area…
I’ll be looking around the horn for substitute opportunities…
EarlyThoughts
It’s turnaround Tuesday…
They pushed higher into no mans land headed to where?
The next big phat round numbers like ES 4600 and SPY 460…
Here’s what we need for numbers this morning…
Continuing up north is the floater situation until they get to a point where a reaction takes place – at an important spot…
SPY 460 give or take is the next big magnetic spot…
A spike through or slightly short of it, we don’t know, but in that general area is the likely target and short term destination…
On the flip side, if they fall the only area of interest in the early going is the gap left open from yesterday at around 455.50…