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Wednesday, October 21, 2009

Market TAO Wed 10-21-09 Double Tops


These Two Key Indice leaders Dow Transport and Russell 2000 are now Showing a Flat Top formation in addition to the Double Top.

These market structures are always a sell signal... We where early on Monday but the formation is valid until there is a break above the yellow resistance line.

These Indices are the Market leaders
so I expect the SPX and Spy to follow.

My plan today is to Sell Spy at the high of day in the mid to low 109.00's
and exit at or below 108.09 down to 107.74

Market will open low109.00 and most likely rally up to 109.50-60 for first 30 min's then turn back down.

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