The collision of global markets and social mood

Friday, December 12, 2014

Pandora's Box. Wild Swings. Rock 'N' Roll & Getting Paid

Wild swings here we come. 2046.60 was exceeded yesterday which opens up a Pandora's Box of larger patterns and targets.

For perspective, the 23.6% Fibonacci support level has not even been reached yet. It sits at 2018.39.

The 50dma is roughly 2000.

The 38% Fib level is at 1980.

All these are game. For starters. Lower levels could be the 200dma at 1945 and rising. Or the 61.8% level at 1919.53.

Even if the market hits 19.53 it could still be in a bullish configuration targeting new all-time highs.

And if the market fails to break lower, the 2060s look great.

So now is a great time to enjoy the rock and roll and trade. Options are cheap and make for great asymmetrical trades with very low risk.

Oh, and UVXY is paying me for my patience over the last month and a half. Yesss.

Welcome to the Jungle by Guns N' Roses on Grooveshark

No comments:

Post a Comment