Monday, March 11, 2013

Quad Opex week

4 years ago last week, the stocked bottomed, after getting cut in half. Since then we have rallied almost 900 S&P points, and 8,000 Dow points back to the all time highs, What a ride! The Fed did good....IMO. The S&P is close to Demarks yearly High pivot at 1558 and Monthly R2 is close by at 1555. The high in 2000 was at 1555. We prolly take that out before we pull back to the open gap at 1525.

The Dow is testing monthly R2 here. Year R2 looms above @ 14,636. Price breaks above R2 only 15% of the time. R2 holds 85% of the time. Will we pin 14,500 this week or 14,100(gap 14130)?