Options and Stock Market Technical Chart Analysis for February 4, 2009 by Idan Koren

Today we look at the market sell off that we were able to predict very accurately. For the past 2 weeks we have hit the nail on the head in every move, down and up. The SPY target for the rally was 110.40, and even though we peaked a little above that, the 60 minutes never closed above 110.40.

Jobs numbers will be coming out tomorrow, but we might get a little bit of that puke trade where we sell off a few more points in the morning and then bounce back. A break of the blue trendline would mean heavier sell offs.

We look at the GLD triangle, SPY, AAPL, UPS and BPI.

Duration : 0:5:1