Is an SPX "close" below 1305. If that occurs, I'm expecting the SPX to retest the 1290 area on Friday. As far as Crm goes, I pointed out 2 weeks ago that the gap at 125.61 made on Feb 9th was a gap that jumped above the declining lower high trendline that began in July of 2011 and is what began the final blowoff top. If Crm can "close" below that gap today (and this may not make sense , but it would be better if crm "trades positive" today, even if just by a penny, and THEN closes below that 125.61 level). IF THAT OCCURS FOR CRM in conjunction with a close below 1305 on the SPX, then the charts strongly suggest 110-119 tomorrow. Have a great day , shorts.
Blues, check out lnkd chart. It broke a higher high 4 month trendline at $103 around May 18th, broke down, retested from below, then further broke down. It is now completed a bear flag formation within a declining and converging triangle hit yesterday. Fast/slow stochastics crossed over yesterday , and with the dow up 80 points, the stock still can't advance. ALL upside gaps, except for THE KEY BREAKDOWN GAP at 103 ( which I doubt will be filled), are filled. See what you think about the chart. The july 100 put looks good and/or the Aug 100 put ( which would get the next quarterly earnings report. 200 day is decently below at 85.50, my goal for Aug is the 76.39 gap fill from Feb 9th. As always, MY money is where my mouth is, I'm in both of those. Check the chart and do what you think is best.