Missionary

UPDATE 10:07am EDT: Happy Monday, rats! I was a bit surprised to see us gap down so far half an hour ago. But more downside was promised and the tape delivered – so far so good. Here’s the updated chart for you guys:

All the lines I drew yesterday afternoon are still valid – that includes the separation point for the short term bullish scenario around 912 (the 50% fib line). BTW, if we suddenly reverse strongly and push past the Friday high then I need to repaint the damn thing. However I do expect a bit of buying after a 15 point gap, which is okay as long as we stay below that line.

Alright, I’ve got a bit more coding to do as I just resolved another problem that I ran into last night. Pressing forward and I’m getting close. I will chime in of course as things unfold here.

UPDATE 12:13pm EDT:

The itsy bitsy SPYder went up the water spout. Down came the rain, and washed the SPYder out.

The nursery rhyme I never heard as a kid (as I’m German) – but I wish I had and it’s so appropriate for today. Au-dessus le canal du jour. Anything but a VWAP retest will have to breach the upper line.

UPDATE 1:46pm EDT: Boy, it’s SLOW in here today! Where’s everyone? Anyway, while I’m wrapping up my coding effort here’s a little goody for you rats:

http://tinyurl.com/evil-ivcrush

Just go there and check it out – here’s a hint: It’s directly related to FujiSan’s IV Crush treat I posted on Saturday. If you haven’t read it, make sure to go and check it out!

Anyway, right now it’s set to ‘this month’ – as we get closer to earnings season replace that to ‘this week’ or ‘next week’. I’m sure you rats can figure this one out. I expect to see many candidates as we get closer to earnings, so have this one handy and make sure you understand Fujisan’s article.