If we gap down, I expect $109.85 to get hit. Possibly as low as $109.70.
If we gap up, look for $111.20 and then $111.50
Oil continues to boggle my MIND! A rise in crude inventory and a rise in the dollar won't keep oil down!!
SPY 10-min. triangle:
Wednesday, February 24, 2010
Another Ambiguous Close
Good day today. The markets did what I said, Neutral to up with a non-triple digit move. With that said I am Neutral to Bearish going into tomorrow. Neutral because we have another triangle forming on the SPY. Slightly bearish because SPY couldn't close above $111.20.
If we gap down, I expect $109.85 to get hit. Possibly as low as $109.70.
If we gap up, look for $111.20 and then $111.50
Oil continues to boggle my MIND! A rise in crude inventory and a rise in the dollar won't keep oil down!!
SPY 10-min. triangle:
If we gap down, I expect $109.85 to get hit. Possibly as low as $109.70.
If we gap up, look for $111.20 and then $111.50
Oil continues to boggle my MIND! A rise in crude inventory and a rise in the dollar won't keep oil down!!
SPY 10-min. triangle:
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