Le Resistance

SPY (10 yr)
Notice how the market 'bottomed' in 2002... same pattern appears for '33, '42, '87, etc. The likelihood of a v-bottom here is also highly unlikely so I will play the odds. To understand why this happens, go review market psychology of bottoms, support, resistance, etc. - long story short, there are very good fundamental reason for why and how these patterns are created.




SPY - looking for the underside of this channel to get kissed before heading lower




















BNI - trading range




















MON - gap fill - that was quick




















X - if you're looking for a follow through day, X has some room to run




















XLP - look for 26




















XLB - If XLB has the audacity to climb its sorry ass to 34....




















AAPL - low risk setup developing...




















COST - low risk setup has arrived.

Being patient

The watchlist hasn't changed too much (see below) - just being patient. Ideally, we'll see this highly talked about 'bounce' to sell into. The only thing that worries me is that it's being too widely discussed and expected. Watch out for earnings dates before getting too caught up in the charts and entering any positions. Specifics to follow later this week.

A human mind needs to find order in chaos - and an illusion of order is better than no order for most people.
-sorry, don't remember

10 year SPY