Towards close, market sloped down! After close, we got the news that JPM was downgraded and it crashed! Bingo! Tomorrow a big down is warranted and it should shoot into our 1st target zone, using ES as reference, it would be 1330-1320 or even to the lower range of 1320-1313 (1313 becomes the lower support of the 1st zone now), at least, it should easily break the upper support 1343 (formerly 1339) into the zone! Let's use 1330 as our best reasonable guess for now since ES closed 1357 today and once gets there it will be 27 points down already. Tomorrow we should take profit part by part along the down way and prevent a rebound before hitting into somewhere in the zone, we will judge real time. If we see a crash case, try your best to save a part of the shorts to try better gain; and in such a case, watch closely when hitting lower support 1313, see if it can stop the drop or be easily shot through.
Currencies rebounded weaker than indices, and bent down back to drop again as well. Other stuff similarly, commodities will basically follow the similar way!
2012-5-10 Night Session
As usual, currencies crashed first! Indices futures followed! Before this, there was a rebound to 1351, and we used a pattern (patented!:) for adding more shorts >1350! And that could be the last chance to add on shorts before entering into 1330 area!!
Enough said, all we need to do now is to try to profit as much as we can! Tomorrow will be a BIG day!!!
Good Luck, everyone!!
As a conclusion, let's be ready to watch the show---
光腚扎猛子，美股够淫荡！
