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Showing posts with label Gap Bounce. Show all posts
Showing posts with label Gap Bounce. Show all posts

Wednesday, October 28, 2009

Possible Gap Bounce


Got it half today right.....Spx sold off...I didn't expect a super extended minute wave 5 down after the European close.....

I showed up expecting a fight with the bulls and they pulled a toilet plunger on me ...
They waved me off with a California Howdy( the Bird) and went back into the barn...

after that there was not a buyer in sight....

Classic Step aside bull tactic.. I have seen this movie many times....

I am expecting a small sell at the open then a bounce out of this gap fill spx 1040.50....
It could go as high as 1074.92 but I would be happy with 1060 up to 1060.50....

But...be prepared..if the gap bounce fails, there is nothing to stop the fall until 1020 to 1016.00