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S&P Teasing its Support Level

Posted By Guy Cohen On In OVI Traders | Comments Disabled
The S&P has been traversing sideways for a month or so now … which just happens to coincide with the OVI being negative during the same time period.  

Coincidence?  Come off it!  

SPY 

 

Bear flags are setting up with AAP and BAC, while GS broke down today only to form a Doji, which as you know, could turn on its heals as a reversal bar.  That said, GS is in a broader based head and shoulders pattern right now – see if you can spot it!  

GS

 

AAPL 

 

BAC

 

Right now is not the time to second guess the market.  It’s at a critical juncture, so allow it to show the way, as it’s on a knife-edge as we speak.  

All the best

Guy