The rebound if any may enjoy a short life time (2 days max) and has to face the 1-st resistances range 1240-1245.

11:00 AM
The Bear setting works perfect! (Bear: Shorts if SPY < 121.23). I think SPY target for today can be 118.5 (Short at open ~ 120.2).


Reviewing my Game Setting Friday.

"I expect a rebound day based on reasons I said above". >> Most times of the trading day are in rebound mode, DJ-30 +22% and SPX's slightly down -0.04%.  

Agressive Bull: Day trades the rebound and re-entries longs at a lesser amount for a probable overnight. >> Fairly good for day trade portion. Don't know the fate of overnight longs.
Caussious Bull: Plays the rebound and limited to day trade. >> That's me. I played the rebound and made very little profit, shifted to cash EOD.
Bear: If you had not yet closed your short at my call 12:46 PM, you can close it at appropriated moment today or adjust the stoplost! Gives way to bull at least one day! >> No commend.

1. EURUSD daily seems to challenge the neck line (brown) of the head and shoulders pattern for the reversal. If it can break out the neck line and win the resistances 1.3567 then 1.3697, a triangle pattern limited by 2 pinks lines can be developed. Otherwise the bears could challenge 1.3407 again and continue the HS pattern.

2. SPY hourly is in a bearish channel either limited by 2 pink lines or 2 blue lines. If it bounds up, the hard resistances are in a range 124.3-125.3. If it continues to sink, the supports are in a range 118.5-119.2.

3. This statistic is just an ornament of my technical analysis. I don't take it serious though I tried to simulate the following factors: Price development of last 5 days, MA50 last 55 days, Price vs Fibonacci levels last 35 days, Price vs MA50 last 2 days. Case 1 (black line) price below MA200 and case 2 no care of MA200 vs price. Data TC2007 available from Jan 1962, all symbols included into the scan, %day1 corresponding to Nov 18 gain, %day2 ~ this Monday gain (gain compares to the previous day close). Case 1 detected 7, Case 2 detected 11. The chart shows the average gains. The statistic slightly favors a rebound this Monday.

5. My biased market reading: We may see a rebound this Monday and it may be a real one to keep all major markets in green. The rebound if any may enjoy a short life time (2 days max) and has to face the 1-st resistances range 1240-1245. 

But I told myself not to expect a healthy rebound 

if a green in Europe markets is not seen!

4. My Game Setting

I would be better prepared for both scenarios, up or down.

Aggressive Bull: Longs as long as SPY > 121.23 (Who believes the rebound). 

Cautious Bull: Longs if SPY > 122.75

Bear: Shorts if SPY < 121.23