Conditional Short

SP:SPX   S&P 500 Index
*Should say 9:30 am (8:30 am my time zone)...
Given the recent Eur/Usd run to nearly 1.30, I am playing the probability of an exhaustion gap for Friday Nov. 23, 2012 market open. There is also the possibilty of some pint up demand come Monday, given the fact that market had a short week with low volume and many are on vacation.

Exhaustion gaps are a sign that price movement or the trend is exhausted. So it is possible that the S&P runs to 1400 or stays steady inbetween 1388/1391 support/resistance and 1399/1402 resistance. Either way I beleive the recent move is ready to reverse next week if the Eur/Usd does not fully correct and price back to 1.2695 - 1.2815 previous trading congestion.


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