Reached top of Wedge and failed
Spy Target is 106 area
My plan today is to sell spy mid to low 108's .... and exit at or below 107 down to 106.25
With stop above yesterday high.
Thursday, October 22, 2009
Market TAO 10-22-09 Thurs
Posted by Neboxian at 9:14 AM
Labels: day trading Journal
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3 comments:
Looks like Spy is retracing to 38 % fib.... yesterday hod and today lod.
Sectors have all traded below their prospective daily pivots. and now consolidating..... @ 108.55 ...... one more push to the 50% fib will make this a nice ABC retracement.
C wave extention could go as high as 109.13.....will add on more put options there.
109.13 target enter new tranche puts...
109.13 is top of ABC wave pattern if price goes higher then this is most likely a wave 3 up...
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