The collision of global markets and social mood

Friday, March 7, 2014

Freaky Friday

Jobs up, jobless rate up. Weird. People flipping out over the first-ever Chinese bond default. Weird. But it's only $14 million. Futures ripping anyway because it's all good.

The market seems intent on getting to 1887 by hook or by crook. I finally got to add some UVXY in the pre market. My UVXY calls will get crushed today but they're more than fully paid for. And I want more Aprils.

1887 isn't the only level up here. There is also 1890 at trend line resistance, and 1900 round number resistance is close by too, along with a 1:1 Fib extension target that's so old I don't know where I drew it from (actually it's from the June 24th, 2013 lows -- wow).

Somehow I don't feel a sustained breakout up here though. There continues to be a beauty of a volume shelf at 1845 that I have my eye on. Maybe that's the most that can be hoped for today.


  1. Marz, today is a big Fib day. It's 610 trading days from the Oct 2011 low at 1074 S&P. Yes, I actually track it on a spreadsheet like a geek. Today could be "The High"

  2. Nice work, and thanks for sharing it. Very cool.