WHERE NOW? you ask.
Fibo levels
DOW lost 736 pts Feb 20 to mar5th.
Close yesterday was 12,261
38% retrace = 12,333
The difference =72 pts
If they get above that and HOLD , then the next level is 50% = 12,418
that would give us a rally today of 157 pts at the close.
As I mentioned b4, MY decision to CASH OUT would be dependent on the OPEN today, and IT looks like I will probably go the distance.
There is a 259 bar hit at 3pm today, and that might slow them down from about 2pm to 3pm.
But the close should be a happy one.
There is also a 204 bar hit at 11:30 which might or might NOT have much impact.
I dont know IF I have the GUTS to hold out for the close, so I will probably sell 50% of my position earlier.
Exactly when?? WHO KNOWS?? Maybe after the first 10 minutes as I previously mentioned, IF they DO get up that 100+ pts.
Best wishes
Jay
3 comments:
Big caps are getting crushed. GE, MSFT, XOM are each down more than 10% from the recent high and make no move back up when SPX does. This market is doomed...
If Im helping you understand more about the markets, then let me know by email.
Jay
Well said.
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