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The Market Trader Tao
NeboXian's Day trading journal
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Saturday, July 11, 2009

NeboXian's Weekly Tao / SPX Hot Spot!


Something is going to happen on or after the 14Th . Every thing is converging on this Red hot spot... Harmonic trend lines, fib time series, fib fan, a concentration of 5 fib lines (not shown), support/ resistance zone. Not to mention all the planets in the solar system. All indicating what looks like a final peak of a complex H & S formation. Monday and Tuesday of OX week are usually bullish. This could be a 2 day rally up to the SPOT.

When the market gods hand out a gift this obvious, I have learned my lessons the hard way. So this week, I closed out all my positions and I am sitting on the side waiting for the next move. Besides the closest short stop loss hideout is 50 spx points above the red dot. And the best long stop is the abyss below.

I think I will take some of my SPY fish'n bait money I made last week and go to the lake and wait until lord market reveals his mighty hand.

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