SPX Futures Suggest An Open Around 850 This Is Another Level
January 14, 2009
SPX futs show 854. 850.75 is the pink line I’ve set on all charts This is the last line in the sand. The fact that the market may open here takes away the move down to this level. Look for a potential rally off this price level. I do not have any index positions with my larger funds, but I will be buying this morning off this gap down. I love gap downs that come at the end of a multi-day down move or a gap up at the end of a multi-day up move as a reversal trade.
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