Trading with point and figure

The dollar is down. Oil and copper are up. Gold is down; silver is flat. Bonds are down.
After yesterday’s close I marked today as a “do or die” day. The stage was set coming into this week for a bounce, and if it doesn’t happen within a certain time window, odds favor another leg down before the stage will be set again. We’re there. The market needs to bounce or else the S&P is likely to drop to 2300 before trying again.

Next week maybe. When ever we have options expiry weekend, on probability the markets usually end up higher.

http://www.marketwatch.com/optionscenter/calendar


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