fryday trading, page-72

We have extreme bearish sentiment readings seldom seen.

Also TRIN over 4.

Put/call almost at par.

So we are at a low or just a day or 2 away.

Of course you don't want to be a day or two early when the knife is falling.

At the moment a SPI discount doesn't seem to be in the air, but I would watch what happens between 4 and 4:30.

The other alternative for a positive is if on Monday we ease back a bit on XJO and SPI goes very negative at the close.

If neither then it doesn't get me excited on the upside even briefly.

Today was a gift for any day trader. A huge gap down just means you take every chance to play the long side, while obeying your basic trading indicators.

I suspect 4350ish on SPI is resistance of some sort.