Sorry for posting so late. Technical problems gave me no opportunity for an earlier post. I'm still working to resolve it completely.
As a result, I am unable to post the 5MIN chart (for tomorrow's trading) because it requires a lot more mental & physical work, time and patience which I don't have at this time. I don't want to risk posting bad plays. I might be able to review and post later on after solving other issues if I have a clear mind. I'm not certain though.
TODAY:
Today's action is what you get when you try to open a container containing compressed gas or explosives. It explodes!! The market had been pinned down too long and was under severe tension, hence the explosion. It just needed ANY catalyst to OVERREACT.
EMPLOYMENT DATA:
Nonfarm Payroll expectation is 125,000 jobs.
I expect this number to get crushed tomorrow. I believe it will come between 180,000 to 200,000 (or higher).
I don't care about the unemployment rate because the market doesn't care about it (unless a significant change of >0.1 or <0.1) which I don't believe will happen. Note that a good report doesn't translate into a bullish reaction for the market. The market does what the market wants. So the INITIAL reaction is anyone's guess. But look for price to get to 1450 before any significant drop. VIX-DAILY
RUT-DAILY
SPX-DAILY II
SPX-DAILY I
SPX-30MIN II
SPX-30MIN I
