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I posted the following the other day
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After today, I would suspect that a crash in the next day or two is most
unlikely. I daytrade, so I normally don't care about stuff like that, but on
the Daily chart of the S & P futures, today was a huge reversal type bar to
the upside. Also I watch a 135 minute chart of the S&P futures, and today was
again a classic reversal pattern to the upside. Interestingly the upside
stopped right at a 13 bar average I plot on that chart. Key will be if the
S&P futures are above 1090 at 1145 monday. That would be a close above the
average on the first bar of the day. I used to mess with OEX options, and
the thing that is a killer is the premium decay. I wish you the best, in your
position.
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Want to just correct something. The close of the 1145 bar monday isn't the
critical one. The event I was talking about, the crossing of the ma could in
fact occur, or not occur tonight, in the globex session
Pete
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