@GeneralLeigh Last time I did any real coding, other than Excel spreadsheets I had to store my programs on IBM punch cards, so my knowledge is out of date
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Christopher Ebert
3.7K posts
Christopher Ebert
@OptionScientist
I'm a full-time stock and option trader, although my primary focus is options. My objective is to make options easy to understand, and with occasional humor.
Rochester NY Beigetreten Temmuz 2009
82 Folgt4.1K Follower
It's amazing how quickly the S&P can rebound when the Temperature stays above 125 (typically the level of brick-wall resistance)
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There is still a chance the S&P is simply digesting gains, but further losses could lead to a brick wall that may last weeks or months.
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Brick-wall resistance for the S&P 500 typically doesn't begin until the Temperature falls below 125 for several days.
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Missed last weekend's Special Report?
"Sell in May and Go Away? Maybe not in 2017"
Free to read anytime HERE ==> zentrader.ca/blog/options-d…
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Special Report
Options don't support "Sell in May and Go Away" in 2017
Read it at your leisure HERE ==> zentrader.ca/blog/?p=27450
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New followers don't forget to check zentrader.ca beginning SUNDAY 8am EDT (New York) for this week's special report "Sell in May"
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Above 125, so no brick wall of resistance,
but still below the 200 Temperature that correlates with Lottery Fever euphoria.
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Another go-nowhere day in the markets. That's how digestion works.
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@GeneralLeigh I broke several of them shaking the mercury down and inadvertently hitting the ceiling or a piece of furniture.
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I'm considering opening a Thermometer museum here in Rochester, New York.
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Let's hope there is no catalyst coming during digestion.
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Although S&P appears to be taking off, the Temperature being below 200 should act as a word of caution that Lottery Fever is not yet here.
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Take me to the,
Take me to the,
Take me to the top.
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It seems like a great day for the S&P, but with the Temperature still well below 200 there remains the risk for a chop-fest.
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History tells us this S&P chop-fest is likely to continue until the Temperature reaches 200.
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Temperatures between 125 and 200 generally correlate with a period of sideways choppy digestion in the S&P.
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Brioschi weather, or maybe some Pepto Bismol.
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