Monday, October 29, 2007

S&P Trade

The 1551 stop was hit a few minutes ago. The presumption now is that the 1492 low will hold. A close today over the 1544 level will strengthen this presumption. Still, I think this market is likely to drop to 1525 or so before it gets as high as 1560.

4 comments:

Anonymous said...

I am not one for details, but isn't the high of the day in spooz today still at 1550.70??

Carl Futia said...

I trade the e-minis and there the 1551.00 level was hit

Anonymous said...

I believe you're right Carl. A total of 8 days from bottom to FED then we get a correction which will be a secondary low. From there it's 1600+.

imho

Anonymous said...

I'm still short ESZ7 from 1541.50 looking to close on any dips. Are you still short?