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Buzz & Banter



Getting quite a few questions re: Fun With Numbers given the price action today. The most important sentence to recall in that article is this:

"As with most technical analysis studies, there is always some need for some wiggle room, a few days here or there, a few points plus or minus, so understand that none of these prices or dates are offered with any type of specificity."

The "perfect" setup didn't happen, of course, which called for a 1068.21 SPX high today. Honestly, that was as much for fun as anything. The important point is that "a few days here or there, a few points plus or minus" remains the wiggle room. The "set-up" then for a high above today's high into next week remains operative until we get a clear change in trend. Everyone has their own levels, but the ones that would suggest a trend change to me are SPX 1038 and 1018. Through those and we'll have to at least consider the idea that today's top might have been important.

Doesn't feel that way, but heck, you never know.

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