1154 Or What

Yesterday's targets are still possible -- nothing much changed since then. I got out of the SPY calls for a quick 20% pop from Friday, but since they were so OTM (out of the money) I felt it was better take the money and run rather than wait for my target to materialize.

1154 is the 38% retracement, the 1141.50 area is the 23.6%. Watch this latter area. Lately the market has been repelled by mere 23.6% retracements which show weakness. It could be an early tell today. Otherwise, 1154 should be the objective.

Price objectives and expectations are of importance both as targets and as intel if the targets are not hit. In this way price becomes the ultimate leading indicator.

I'm still looking for these upper targets to be achieved. If not, this market could cascade much lower.

The trip to Chicago was a success. I delivered my friends' car without a scrape, helped make their lives a little easier, saw some beautiful scenery, and am able to spend a few days with them here. I love being able to do that!

Lake Shore Drive is alway my first stop by car. I love this view of the city. I always get a big boost of energy when I see it -- it always feels like the first time.