Based upon 3-day Bullish Cycle there is potential to reach upper targets measuring 1681.00 – 1685. IF prior day high (PDH) is penetrated THEN that upper target is “in-play”. A failure at PDH would setup an intra-day reversal to retest 1660.00. IF the 1660.00 level is violated,THEN there is a 48% chance of making a low down to 1649.25.
Actual HOD: 1685.75
Actual LOD: 1646.50
Excerpts from Trading Room on 5.22.13
[09:50:51 am] Joe Baker: 2 trys to get long 67s
[09:50:56 am] Joe Baker: 69.50s
[09:50:58 am] Joe Baker: NATTA
[09:51:02 am] Joe Baker: ZILCHO
Polaris Trading Group: Will NOT buy unless in fair-value zone
[09:53:06 am] uncle fred: this puppy is gonna teach da Bears about PAIN
[10:06:17 am] Joe Baker: all targets hit
[10:06:41 am] Polaris Trading Group: this will be the final short flush-out
[10:13:48 am] Polaris Trading Group: Targets HIT!!!!!!!!!!!!!!!!!
[10:17:37 am] Moe Mentum: short 82
[10:17:38 am] Polaris Trading Group: SS 82 10:15
[10:29:16 am] uncle fred: Target REACHED 20 pt up for 3 days RALLY UNREAL
[10:33:12 am] Polaris Trading Group: This action not for weak stomaches
[10:33:34 am] Polaris Trading Group: Don’t trade this without supervision
[10:34:25 am] Polaris Trading Group: staying short side
[10:34:47 am] Polaris Trading Group: This is setting up as “Key Reversal Day”
[10:35:24 am] Polaris Trading Group: BOT 78 from 82 SS 10:35
[10:36:58 am] Joe Baker: VXX was KEY again
[10:37:09 am] Joe Baker: Thank you so much
[10:38:12 am] Polaris Trading Group: How do you spell CAPITULATION!!!
[10:38:16 am] Moe Mentum: flat 10 pts
[10:38:35 am] Polaris Trading Group: KEY REVERSAL DAY!!!
[10:42:50 am] Polaris Trading Group: NICE THAT TRADE STRATEGY TODAY WORKED NICELY
[10:43:05 am] Polaris Trading Group: It’s almost like I know what I’m doing!!! LOL
[10:51:54 am] marc baker: capitulation
[10:52:04 am] marc baker: last gasp
[10:52:14 am] marc baker: give us the word
[10:52:21 am] Joe Baker: last engulfing
[11:55:29 am] Moe Mentum: they exceeded ADR of 17 pts this morning.. that was the goal of today
[12:35:04 pm] Polaris Trading Group: longs continue to dump
[12:36:21 pm] Polaris Trading Group: -900 TICKS
[12:36:52 pm] Polaris Trading Group: Russell taking a “header”…nose diving
[12:58:26 pm] Polaris Trading Group: Price has coiled forming a Symmetrical Triangle…Watch for a directional breakout of Compression
[01:00:55 pm] Polaris Trading Group: 78.50 “marker”
[01:30:03 pm] Polaris Trading Group: Price back to Open Range
[01:30:19 pm] Polaris Trading Group: Did anyone say “KEY REVERSAL DAY”?
[01:42:38 pm] Polaris Trading Group: LONG LIQUIDATION
[01:43:00 pm] Polaris Trading Group: NO ONE LEFT TO BUY
[01:43:41 pm] Polaris Trading Group: 1666 BIG TEST MARKER
[03:24:39 pm] uncle fred: PROF LOOK we got 0’s….VOODOO man VOODOO