Tuesday, April 7, 2009

Expecting a gap up tomorrow.

Not a big one but I do not know if the gap fills on SP. It may or may not.

One thing I keep in mind that the market is topping out. Tops are process, we will see some congestion between some range before the bottom falls out. My best guess for the range is 850-800 on SPX.

Another thing as a part of the big setup I keep in mind is we will print the top this month if we didn't already. This is important because at one point, it will help me to stick with the trend once breakdown happens.

But for now, in my opinion there is a short term setup in place suggesting some upside test.

As usual, I will not go long any rally as they are all subject to be fake-outs.

No comments:

Post a Comment