Next week - What the Market is Looking for...
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Next week on SPY, the market is looking for about a $11 move. We are ending things in a awkward place it looks like. Mark off $11 from todays closing price, whatever that turns out to be. $11 to the downside, $11 to the upside. Would I rule out running up to the 463's nope. I wouldnt. Be weird but its definitely on the table. Some of the stocks I could see doing double tops and setting up for some substantial momentum to the downside in the coming weeks.
Whatever you are, a bull or a bear short term.. just realize the larger picture that is going on which is very much down. Good luck! Unless something changes in the next half hour of market close, I have to say pick a direction for next week. Ill be neutral until the market shows me what direction it wants to go. There will be plenty of money to be made whichever way it is and if its to the upside, just better short entries to get in. I did not get my Amazon price today. I will be watching it next week. Damn you Amazon! :)
Whatever you are, a bull or a bear short term.. just realize the larger picture that is going on which is very much down. Good luck! Unless something changes in the next half hour of market close, I have to say pick a direction for next week. Ill be neutral until the market shows me what direction it wants to go. There will be plenty of money to be made whichever way it is and if its to the upside, just better short entries to get in. I did not get my Amazon price today. I will be watching it next week. Damn you Amazon! :)
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