Friday, March 26, 2010
$SPX - zoomed quarterly moved Fib retracement
On this long term quarterly I decided to zoom in and move the Fib retracement to the lows of 2003. Pretty interesting indeed. Notice how the 50 quarter SMA acted as support for at least nine months before the move higher in 2003. Now that blue line will be resistance.
I think I'll be adding more Leap Puts in thirds on blind moves above 1175, 1200 and 1225.
Thursday, March 25, 2010
EUR/USD
Most are watching the Euro and US Dollar for a play on the commodoties. Basically a failure of 1.33 to hold as support will mean a further unwinding of long trades. This will ripple through Gold and Oil and their related stocks for some high volatility. Bottom line is still hinging on Greece and bailout talks.
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