Sunday, October 9, 2011

Full moon reversal?

Per last weeks post, the S&P bounced off of 1075(monthly S1 pivot) and rallied 100 points. Up 5% off the lows. These bounces the past 2 months have been fast. So have the declines. No pullbacks to let you in. Makes you pay up, if you want to play. Every other week is up or down. Last week was up, my guess is this week will be down. We have a full moon too this week on Tuesday the 11th. I see resistance at 1200, which is the monthly R1 pivot and support is 1120.