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Written by Steve Meyers   
Friday, 27 August 2010 12:46

The market seems to be struggling mightily at the 1060 area. This would be a good area to start getting aggressive and avg in up to 1067 if we can get there. Euro is starting to fail and its chart is a bear flag formation that means lower prices.

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Mars  - SP500 Daytrader |2010-08-27 12:55:01
What a game! Just to make a point, Mr. Market runs up to 1061.46.....(.01) above the 1061.45 resistance cited earlier. So, once again that throws us back to the prior wave count.

I didn't think so earlier, but maybe we will close near the 1067-1068 level.
SteveM |2010-08-27 13:07:24
Sellers are starting to appear.
TitanTrader  - Amazed we are up |2010-08-27 13:29:17
Then of course some mystery buyer shows up late Sunday night a gun the futures.

I'm waiting for Mondays open, probably will miss the top but been pile driven on too many Monday Mornings.

This thing has been rolling over into the close many days of late, can't believe it happens today.

Good Luck and go with your gut, I am.
Ron Rebner |2010-08-27 13:27:48
Volume is pretty good, especially on the NASDAQ, but not huge.
SteveM |2010-08-27 14:25:12
We are going for the gap.
TitanTrader  - Steve M Calls It |2010-08-27 15:49:53
Steve you were calling for 1065-1070 all week. I used patence and waited to add. I never short on Friday so maybe with a hot open Monday step back in.

Funny why they ran it. INTC after telling us 45 days ago how great everything was warns. Intc goes up anyways, y this is setting up.

How about the ten year today, large sell-off again giving us a nice set up.

Have a great weekend folks and thanks.
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Last Updated on Friday, 27 August 2010 12:49
 

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