Market Opinion - Trading Week #3

Market Opinion for the Trading Week 28 Jan to 1 Feb 2013

Have fun trading : interesting, amusing or entertaining accounts on trading !~

Recap on last week

One of the biggest uproar last week was AAPL earnings, on Wed it close around 515 and open with HUGE GAP, 458 almost a 10% drop. OUCH 

Check this brief notes on how AAPL actually perform. They are a good company and products are lovely. I used to be an iphone user and their macbook air is in my wishlist =) its so pretty.

 In its Q1 2013 earnings report, Apple posted record quarterly revenue of $54.5 billion and a record net profit for the quarter of $13.1 billion on $13.81 per diluted share. Based on an independent consensus from 67 different analysts, Wall Street had expected $58.84 billion in revenue on $15.11 earnings per diluted share.

Regarding unit estimates, Wall Street’s consensus expected Apple to have sold roughly 50 million iPhones and 23 million iPads; in the final earnings report, however, Apple reported selling only 47.8 million iPhones and 22.9 million iPads.

“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter,” Peter Oppenheimer, Apple’s CFO, said. “We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem and generated Apple’s highest quarterly revenue ever.”

How the hell the stock got beaten so badly , just because the analyst have higher expectation. From my personal opinion, I m happy =) its a opportunity to pick up some apples just wait for it to find the next support. People probably got shocked on the gap and reacted and market maker or big boys might want to leverage on this opportunity to create a short term fear, causing people to panic sell (imagine you're holding it and it drop 10% in 1 day) SELLLLLLLLLL thereafter after helping the market maker or big boys to make the counter even cheaper to buy to make a profit.

Now back to the market, well it was up Up UP week. Bingo for me !  It was moving with momentum until it reached the 150 mark big whole number and break above it. I thought it would take sometime for it to break above. 

Accuracy : 2/2 100% (still 100%, wahhahaha let's see if i can hit 100% for 5 consecutive weeks)

Psychology
Check out the weekly candle stick pattern. What's your feeling of the candle ? Not much sign of bearishness yet. People can really get greedy. Plus it just break above the 150 mark. It's probably a V shape for next week. Bulls taking a breather by taking off some profit making it like a test of support on 150 mark before the bull continue to charge again. I m conservative bullish for next week.

Technical
Similar to previous post except that it break the high again. Reaching the channel resistance. I was doubtful in the feeling of candle but the technical aspect gave me a boost in confidence.

What's ahead for next week ?
Economic events
Yucks almost some important data releasing every single day. Its confusing when data are release and we are at the in between of either a support/resistance line. Probably volatile

Chinese new year coming in close. People are still on buying spree and probably lots of last minute shoppers, I guess it's still good for the overall economic till end of CNY. I wonder if for the past 20 years, 2 week before and 1 week after chinese new year, is there a pattern in the market ?

Opinion of the Market next week : sideway with little up side.

Market Opinion - Trading Week #2

Market Opinion for the Trading Week 21 Jan to 25 Jan 2013

Have fun trading : interesting, amusing or entertaining accounts on trading !~

Recap on last week

SPY - 5 Days

Last week was fun =), went to thailand, bangkok first holiday trip for 2013 and 3 more holiday destinations to  accomplish this year !

Jan 13 : Thailand

May 13 : Taiwan (next)

Sep 13 : China

Dec 13 : Japan

 I m so inspired by the lifestyle of traveling and trading here and there during the trip to make up some of the shopping expenses =) and ultimately entire trip paid for from trading with spare to invest. As mentioned in my previous market opinion post - sideways to the upside, I was very near ^ ^ looking at the above. It was moving sideways to a little upside and once it break the 147 mark, woola people on the sideline gain confident or should I says become greedy, thinking phew we past the safety line and its time to party. 

Accuracy : 1/1 100% (that so nice 100%, wahhahaha let's see if i can hit 100% for 5 consecutive weeks)

Psychology
Check out the weekly candle stick pattern. What's your feeling of the candle ? I would say still bullish, no sign for strong bears yet. Since it breakout the 52 week high, people who have been on the sideline waiting might turn greedy and its time to jump, buying the high. Like a pyramid effect, people who went in first, waiting for greedy money to push the high to a higher high and take their profit and run. And those who run too late, it's payment for your lesson. There will also be another group where it's at the high, they wanted to wait but it move higher. Fear of missing out the ride, they gave in to temptation and got caught in the higher high wave.

It probably come back to test  the support line in the next few session.

Technical
Similar to previous post except that it break the 52 week high. Or breaking the ascending triangle pattern earlier.


What's ahead for next week ?
Economic events
21 Jan - Bank holiday, market closed.
Not too much economic data which is good for the market and price. Everything is factor into the price. Proper sense of the market without much confusion.

Remember the scenario, if you are a market maker for SPY,

"Remind me of another lesson, 95% of the world money is hold by the top 1%. And price move in according to how the money flow. So if you are the top 1 % how would you put your money knowing that the market can move up, down or sideways. If you are a market maker of SPY, how would you set the traps ?
1) make it appear that the counter is hitting resistance, loose steam and attract people shorting follow by a reversal push triggering their stops
2) make it appear that the counter is going strong breaking the 52 resistance, attracting people who want to buy it higher before reversing it to trigger stops probably just below the latest support level. After that sending it back again for a bullish Jan
3) Combination of 1 + 2"

Looks like scenario 2 is on play, let's wait a few more session to see the full plot.

Volumes might pick up as there's not too much economic data plus again Chinese new year coming in a few weeks. People are still on buying spree, I wonder if US celebrate Chinese new year or there's a public holiday in the state during Chinese New Year.

People, are looking for new furniture big tickets items), new clothing  to welcome the new year. Hong bao for younger generation as a blessing which in turn the receiver will spend it. Though most of the consumers are chinese, they buy products/services from all over the world. This encourage business in general.

Like for myself, my family is looking to get a new piece of LED Smart TV which can easily cost a few thousands.

Opinion of the Market next week : Up and sideways

Market Opinion - Trading Week #1

Market Opinion for the Trading Week 14 Jan to 18 Jan 2013

Have fun trading : interesting, amusing or entertaining accounts on trading !~

Recap on last week

SPY

SPY closed higher up with volume dipping a little.

Well I can't remember the candle stick pattern but I think there's a simple way to do what Leon has taught us during the Coach Tutelage - feel the candle. And the interesting yet SIMPLE exercise of 'feel the candle'. He showed us a combination of 3 candles and uses mass market reaction to do a poll.

ie the following :
After knowing how to read a bullish or bearish candle, you can use your own psychology to determine the likelihood of the trend ahead.

What's the likelihood of the candles moving up, down or sideway next ?

Looking at this week closing, the bulls have push pretty hard giving the bears no room. It probably still got some strength to go ahead before the bears wake up.

On the technical, it's closing in to it's 52 weeks high, probably still some little room to test the resistance if it will garner enough strength to push thru next week.

A possible double top or a cup and out of shape cup and handle/ascending triangle breaking out. January tend to be bullish till around Mar period.

Spotting pattern of similar candles, there are 4 near to similar pattern whereby bullish trend with a candle with no or little top shadow. Out of the 4, 2 of them are bullish after that.

Pattern of the month compare to previous year, bullish upside.

From a psychology point, most of us know and can see that the counter is hitting on a resistance of 52 week high and support at 145. Thus most people would be in the state of 'see how' and not doing anything thus we might be seeing lower volume and sideway movement.

From macroeconomic point, the fiscal cliff effect is delayed till feb 13 and with the festive mood (Chinese New Year coming too =) and valentine ) // To avoid the possible high tax, probably more people would be putting their money into equity or investment instrument.

What's ahead for next week ?
Economic events
Fed Chairman speaking on mon with Retail sales report, building permits and unemployment claims - a heavy reports week which might further confuse the people out there. //remind me of this quote : "everything has been factor into the price." This news/reports probably is there to swayed or confuse people.

Remind me of another lesson, 95% of the world money is hold by the top 1%. And price move in according to how the money flow. So if you are the top 1 % how would you put your money knowing that the market can move up, down or sideway. If you are a market maker of SPY, how would you set the traps ?
1) make it appear that the counter is hitting resistance, loose steam and attract people shorting follow by a reversal push triggering their stops
2) make it appear that the counter is going strong breaking the 52 resistance, attracting people who want to buy it higher before reversing it to trigger stops probably just below the latest support level. After that sending it back again for a bullish Jan
3) Combination of 1 + 2

Opinion of the Market next week : Sideway to the upside

SPY 12 Jan 2012

Before market open,

1. SPY TA - Channel Support and Strong Support/Resistance line at 128.50 ; ascending triangle breakout ; Next S/R level at 130
2. Marketwatch - Major headline news of revise unemployment claims hitting close to 400,000
3. Forexfactory - Bearish Economic data - retail sales : below expectation ; unemployment claims above expectation. 

Sentiment : Pretty 'jing' aka swelling. Standby for bearish reaction

TOS : 

1. Open SPY option chain to look for 2 Put contract
2. Set stop loss
3. Drew additional support/resistance lines on 1min candles chart
4. Added previous trading day, open, high, low, close
5. Remind myself on the 2 rules

• Never buy the high, never short the low
• Wait for confirm trend

Indeed the market reacted to the economic data, within the first 15min a trend was form and thought it could be entry for me (first blue circle). Held my click, why ? I was wary to trade the first 15 min when the market opened. While I was wary and thinking, I was too late, notice the huge red candle. [The bull climb up the stairs and Bear jump of the window]. Remind myself that there will be another opportunity.

Waited for the second opportunity (second blue circle) , once it break out the support line, I was ready to make an entry but did not get a fill. It was a clear overrun by the bears as the buyers for the PUT options does a big leap. Up my ASK price once , damn when it move down, it move real fast. [It was a psychology battle once again when the direction become so clear and you don't want to miss the opportunity - the temptation to chase the price again was challenging ] Decided to stick to the plan of chasing only once plus it's reaching the strong support of 128.50. Man I m glad that I stick to the plan as it went sideway for a period.

Somewhere around the 3rd blue circle, I thought it could be a start of a uptrend so standby my CALL option. But it just doesn't want to break above the S/R zone. Shortly after that constipation, bearish candles come into play and I switched back to PUT option. Made an entry again on the (2nd orange circle) but did not get a fill. [Everything happen for a reason - that's it for the day and closed my platform]

Ratio : 4/4

SPY 11 Jan 2012

Attended WAT Coaches briefing yesterday and did not trade. Manage to keep the discipline today and do it =)

Before market open

1. TA on SPY - strong support at 128.50 back tracing from Aug 2011 breakout to the south; still on channel support ; ascending triangle breakout ; previous trading day isn't a real bull, got pushed up went sideway.
2. Marketwatch headlines - nothing major
3. Forexfactory - No major economic data 

Sentiment : A little bearish correction to the downside

TOS : 

1. Open SPY option chain to look for 2 Put contract
2. Set stop lost 
3. Drew additional support/resistance lines on 1min candles chart
4. Added previous trading day, open, high, low, close
5. Remind myself on the 2 rules

• Never buy the high, never short the low
• Wait for confirm trend

Saw an opportunity for an entry at the orange circle - bearish engulfing. Buyers sudden rush. Waited for next candle to confirm. Clicked Buy and didn't get a fill. Thought of chasing the price once but it just went too fast before I can react. So chill myself and told myself that there's always another opportunity. At the same time that kind of psychology I have to manage -you know you are got the right direction and didn't get a fill and the price just went nicely along your direction.

Invited my friend [Patience]

SPY finding it's support at 128.50 zone. Prepare myself for bullish entry.


I was presented with another opportunity -  blue circle. Both rules fulfilled, waited for the next candle and bang a pretty bullish one. Clicked Buy. Filled.


Checked on MACD,
On 1 min chart - MACD blue line above red (probably take a while for MACD traders to come in)
On 3 min chart - MACD start to form crossover

It climb slowly as I waited. Smaller wave make bigger wave. 

Next, prepare to sell

• Hit $5 profit sell 1, trail 1 for $0.05
• Profit : $18 | Net P/L : Profit - Commission = $18 - ($1.25 X 2 ) X 2 contracts) = $13

Retrospect

Orange - BTO 2 contracts
Blue - STC 1 contract and trail stop 1 contract
Red - Got trail stopped

Ratio :  4/4

SPY 9 Jan 2012

Before Market Open

1. Check Marketwatch for Headline news
2. TA for SPY - pretty constipated movement from Fri, support at 127 and resistance at 128.50. Diagonal Support and potential breakout of ascending triangle
3. Forexfactory - CAD building permit lesser than forecast

Sentiment : sideway to the upside 

TOS

1. Open SPY option chain to look for 2 Call contract
2. Set stop lost 
3. Drew additional support/resistance lines on 1min candles chart
4. Added previous trading day, open, high, low, close
5. Remind myself on the 2 rules

• Never buy the high, never short the low
• Wait for confirm trend

Once again another test of waiting, noticed that the shadow were pretty long on the bottom and top of candles as if telling me that there was no direction in the market. 

After around 10 am (US time), if it break below the support line then lets go for a Put option, opened up the option chain and standby the put option. A few seconds later, a potential double bottom showed up. Waited for it to breakout. And yes! Saw the bullish piercing candle and clicked ! buy (orange circle).

Checked on MACD, 

On 1 min chart - MACD red line enter bullish half

On 3 min chart - MACD blue line enter bullish half

Next, prepare to sell

• Hit $5 profit sell 1, trail 1 for $0.05
• Profit : $10 | Net P/L : Profit - Commission = $10 - ($1.25 X 2 ) X 2 contracts) = $5

Retrospect

Ratio : 3/3

SPY trade 6 Jan 2012

Before Market Open

1. TA check on SPY, bullish candle, 127 support, resistance at 128.5 
2. Market watch headlines - good node (payroll add 200,000)
3. Forexfactory - economic data good on unemployment rate  + some FOMC members speak

Sentiment : Bullish

TOS 

1. Look at option chain for 2 SPY call options
2. Set stop lost
3. Draw additional support and resistance lines on charts
4. Added the lines for previous day Open, High, low, Close
5. Prepare to buy 

Almost buy after about 15 minutes, black circle, remind myself on the rules

a) Never buy the high, never short the low

b) Wait for confirm trend

After the black circle, notice that man I should have standby a put option too as it's showing a pretty good confirm down trend. [Trend is your friend Trend is your BEST FRIEND =) from Con and GMT] On second thought it break rule (a) it's breaking day's low but still above previous day open.

Stick to the plan, Call option with a confirm up trend. Then SPY went constipated around the blue circle man waiting probably one of the hardest part in trading so true ! The candles just don't want to break above that resistance line at the same time the buyers and sellers are just reluctant to come closer. There were several moments that I wanted to buy earlier since it's near the resistance in order to be ahead of others and I manage to stick to the plan. =)

Finally the opportunity start to show, noticed the bullish candle 

• break above the resistance
• form uptrend
• jump in buyers

Clicked ! Buy - 

Watched for MACD, 

On 1 min chart, blue line moving into bullish half

On 3 min chart, crossover 

Next, prepare to sell

•  Hit $5 profit sell 1, trail 1 for $0.05
• Profit : $10 | Net P/L : Profit - Commission = $10 - ($1.25 X 2 ) X 2 contracts) = $5

Retrospect 

• How nice right ? Blue circle buy, Red circle sell.

Ratio : 2/2

SPY Trade 5 Jan 2012

Before the trade,

1) Check on SPY technical, notice good support at around 126.30 ~ 126.60 zone
2) Open market watch check out any major news
3) Forexfactory to look at economic data - good node on Unemployment claims

sentiment : Bullish

TOS :
1) Get ready 2 Call options
2) Set stop lost
3) Spotted Bullish candle around 9:45 am (US time) , get ready
4)When bid and ask close in, buy
5) Wanted to buy at $4.50 but did not fill. Buyers started picking up, raise once to $4.53, filled
6) Hit $5 profit sell 1, trail 1 for $0.05
7) Profit : $10 | Net P/L : Profit - Commission = $10 - ($1.25 X 2 ) X 2 contracts) = $5

After the trade,

Rule no. 1 Never buy the high, Never short the low

Rule no. 2 Wait for confirm trend 

Entry on second wave might be better.

SPY Scalp - 26 Aug 2011

Budget : $1000
No. of Contract : 2
Profit Target : $20 or $0.10 per option (profit take half when option hit $0.10;  trail stop $0.10)
Stop Loss : $20 or $0.20 per option

Trade #1
Profit : $25
Comm : $5
Net Profit/Loss : $20


Trade #2
Profit : $40
Comm : $5
Net Profit/Loss : -($45)


Trade #3
Profit : $39
Comm : $5
Net Profit/Loss : $34


Total Net Profit/Loss : $9

Increase Dropbox storage size

I just got a pop up today from dropbox telling me that my storage space is almost reaching the limit =\ that 2.25GB i thought it will take a long while before reaching that point.

Great first problem to exercise my resourcefulness, did a google search on how to increase the space. First i remember I saw an alternative option similar to dropbox which offer 5GB space - box. But it require you to pay to enjoy the multiple sync features. Thus I m sticking with dropbox and crack my brain to find way to increase it. There's a couple of ways to do that :

1) complete the quest when you first registered. https://www.dropbox.com/gs
2) invite your friends to use dropbox (for every user register via your invite, you get 250mb; if you send the invitation to a .edu email account and they sign up you get 500mb per user - https://www.dropbox.com/edu
3) visit this link - https://www.dropbox.com/free [raised my space by almost 640MB in less than 2 minutes)

• you just have to enable twitter account to use dropbox. (expanded 128mb)
• allow dropbox on facebook account (expanded 128mb)
• follow dropbox on twitter (expanded 128mb)
• comment why you like dropbox (expanded 128mb)
• tweet a post on why you like dropbox (expanded 128mb)

Alternative there another longer process of getting that additional space.
http://en.www.ali.dj/how-to-increase-the-size-of-your-dropbox-to-10gb/

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Scalp on SPY - 18 Aug 2011

As mentioned in the previous DMA, I m bearish. After checking out the unemployment claim data

8:30am	USD		Core CPI m/m		0.2%	0.2%	0.3%
8:30am	USD		Unemployment Claims		408K	402K	399K

the index future start to tank. Even before that Dow mini future was already down by 80 points before market open. Plus marketwatch news on Gold breaking record high again to 1819. All these lead to me getting ready for a bearish entry.


15 minutes after market open, spotted an entry

A few minutes later suddenly there's a sudden surge in volume forming a big bearish candle and my trailstop triggered shortly after. Nice profit of $390 in 14 minutes =D

Daily Market Analysis - Wednesday 17 August, 2011

Tuesday 16 August, 2011 - AMC

Dow Jones Index

11,405.93 -76.97 (-0.67%)

Range 11,292.63 - 11,488.01

52 week 9,936.62 - 12,876.00

Open 11,480.48

Vol. 187.80M

NASDAQ 

2,523.45 -31.75 (-1.24%)

Range 2,494.55 - 2,546.74

52 week 2,099.29 - 2,887.75

Open 2,526.48

Vol. 2.01B

S&P 500

1,192.76 -11.73(-0.97%)

Range 1,180.53 - 1,204.22

52 week 1,039.70 - 1,370.58

Open 1,204.22

Vol. 871.87M

RUSELL

704.76 -13.87 (-1.93%)

Range 698.26 - 718.59

52 week 588.58 - 868.57

Open 711.27

Vol. 0.00

Tuesday 16 August, 2011 Economic Data

Tue Aug 16	8:30am	USD		Building Permits		0.60M	0.61M	0.62M
	8:30am	USD		Housing Starts		0.60M	0.60M	0.61M
	8:30am	USD		Import Prices m/m		0.3%	0.0%	-0.6%
	9:15am	USD		Capacity Utilization Rate		77.5%	77.0%	76.9%
	9:15am	USD		Industrial Production m/m		0.9%	0.5%	0.4%

Sectors Performance

Utilities sector been performing well for the past week. It's like a contrarian indicator of the market when there's fear, people buy into one of the safe bet utilities. Thus this sector tends to do well, will it continue to do well ?

Finance sector at the bottom of the table.

Check this economic model from sam stovall

Early Recession 

This is where things start to go bad for the overall economy. Consumer expectations are at their worst, industrial production is falling, interest rates are at their highest[still at 0 to 0.25 % till mid 2013], and the yield curve is flat or even inverted.[curve been flattening especially the past 2 weeks] Historically, the following sectors have found favor during these rough times:

Services (near the beginning)

Utilities

Cyclicals and transports (near the end)

Read more: http://www.investopedia.com/articles/trading/05/020305.asp#ixzz1VH1y2Xwz

PS: article that talks about economic cycle - http://www.investopedia.com/articles/trading/05/020305.asp#axzz1VH1XiHAL

What move the market 

• Germany and France officials offer proposals for eurozone common government, not immediate plans to address ongoing challenges
• GDP data from Germany and broader eurozone disappoint
• Fitch reaffirms AAA rating on US, and considers the outlook stable
• Housing starts and building permits slow more than expected in July
• Industrial production jumps more than expected in July

Read more: http://www.briefing.com/investor/markets/stock-market-update/#ixzz1VH5LRjmP

Commodities

Treasury Yield

Notable Earnings

Wal-Mart 2nd-quarter net up 5.7%(7:25 am ET) TEL AVIV (MarketWatch) -- Wal-Mart Stores Inc., (WMT: news, chart, profile) the world's largest retailer, reported fiscal second-quarter net income rose 5.7% on 5.4% higher net revenue and flat same-store sales. For the quarter ended July 31, net income reached $3.8 billion from $3.6 billion. Earnings per share were $1.09 against 97 cents. Special items cut a net 3 cents a share from the latest quarter's profit, Wal-Mart said in a Tuesday statement. Net sales rose 5.5% to $108.64 billion; adding in membership fees, net revenue rose 5.4% to $109.37 billion. A survey of analysts by FactSet Research produced consensus estimates of $1.08 a share of profit on $108.1 billion of revenue. Wal-Mart's U.S. comparable-store sales fell 0.9%. For the fiscal third quarter, Wal-Mart expects continuing operations to generate profit of 95 cents to $1 a share. In the year-earlier third period, WMT earned 95 cents, including a 5-cent tax benefit. FactSet's survey is looking for 97 cents a share. For the fiscal year, Wal-Mart expects to earn $4.41 to $4.51 a share. FactSet's survey is eyeing $4.46. (Adds outlook.)

Home Depot net beats estimate; outlook raised(6:19 am ET) TEL AVIV (MarketWatch) -- Home Depot Inc., (HD: news, chart, profile) the Atlanta home-improvement chain, reported fiscal-second-quarter net income rose 14% on 4.2% higher net sales and 4.3% higher comparable-store sales. For the quarter ended July 31, profit reached $1.36 billion from $1.19 billion in the year-earlier period. Earnings per share were 86 cents against 72 cents. Shares outstanding fell 5.2% to 1.58 billion. Sales rose to $20.23 billion from $19.41 billion. A survey of analysts by FactSet Research produced a consensus estimate of profit of 83 cents a share on revenue of $19.97 billion. The company raised its outlook for the year and now expects continuing operations to generate profit of $2.34 a share. FactSet's survey is looking for $2.30.

Technical Updates

Wednesday 17 August, 2011 BMO

Wednesday 17 August, 2011 Economic Data 

Wed Aug 17	8:30am	USD		PPI m/m			0.0%	-0.4%
	8:30am	USD		Core PPI m/m			0.2%	0.3%
	10:30am	USD		Crude Oil Inventories			-0.4M	-5.2M

What Does Producer Price Index - PPI Mean?
A family of indexes that measures the average change in selling prices received by domestic producers of goods and services over time. PPIs measure price change from the perspective of the seller.

Read more: http://www.investopedia.com/terms/p/ppi.asp#ixzz1VHI9Inzi

News

The leaders of France and Germany called Tuesday for greater economic discipline and unity among European nations but declined to take immediate financial measures seen by many investors as the only way to halt the continent's spiraling debt crisis.

Dell cuts guidance, showing industry uncertainty

Earnings

The blended earnings growth rate for the S&P 500 for 2Q 2011, combining actual numbers for companies that have reported, and estimates for companies yet to report slightly rose to 11.9% from 11.8% in the previous day. As of April 1st, the earnings growth rate was at 13.3%.
Of the 466 (93%) S&P 500 companies who have reported 2Q earnings, 71% beat estimates, 9% were in-line, and 20% were below estimates. The estimated earnings growth rate for the S&P 500 for 3Q 2011 is currently at 15.7%. (Data provided by Thomson Reuters)

Almanac 

-No statistics

Summary

-I m still bearish on long term. Just saw an video from Walter Zimmermann, United-ICAP chief technical analyst saying we could possibly see  S&P500 hit 570 !!! I think it might be bad but not that bad ouch, that half of current S&P level. According to him, we could be in a repeat of 2007 to 2009.

On technical, SPX seem to hit Fibonacci of 61.8% (slightly over but if you use body to body candle its exactly at 61.8%). Also there a resistance level at 1204

Plus my wall street bull drop off from my vision board this morning [everything happen for a reason ^_^]

Market Direction : Down

Accuracy : (11/16)