text book config...
OEX P/C 10DMA=1.68 , Equity P/C 10DMA=0.59
Started by
A-ha
, Jan 26 2007 12:08 AM
2 replies to this topic
#2
Trend-Signals
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- Traders-Talk User
- 1,136 posts
Member
Posted 26 January 2007 - 12:23 AM
Good luck to you... 
Markets have reached the breakout targets: SPX 1440, Nasdaq 2500 and DOW 12600
Major Markets and indices are showing perfect TOP formation as the last two-day actions show a good sign of making a ST top.
For LT SPX target 1550 based on 4-8yr cycle will be revisited; however, as I noted the breakout targets are SPX 1440 and Nasdaq 2500 which are the resistances. Now DOW reached the breakout target to 12600. Furthermore, $SSEC Shanghai market corrected nearly 4% after the recent huge rally to 3000. The Shanghai 3000 resistance is fitting to the US market resistances and targets.
Meeting these major targets which are now resistances are setting up for a ST pull back. As I noted breadth negative divergences during the last few weeks, having a correction is health.
We still need to see market reaction to GOOG earning on 1/31, and also market reaction to MSFT earning in the morning to confirm a ST correction. However, reaching the breakout targets after the recent rally with breadth negative divergences which I noted for a few weeks is setting up for a ST correction.
The ST correction targets are: NASDAQ 2370, SPX 1385 and DOW 12100.
Caution) QQQQ breaking above 45.50 will be, Qs will trade to 47; therefore, it requires proper risk management.
[/quote]
Markets have reached the breakout targets: SPX 1440, Nasdaq 2500 and DOW 12600
Major Markets and indices are showing perfect TOP formation as the last two-day actions show a good sign of making a ST top.
For LT SPX target 1550 based on 4-8yr cycle will be revisited; however, as I noted the breakout targets are SPX 1440 and Nasdaq 2500 which are the resistances. Now DOW reached the breakout target to 12600. Furthermore, $SSEC Shanghai market corrected nearly 4% after the recent huge rally to 3000. The Shanghai 3000 resistance is fitting to the US market resistances and targets.
Meeting these major targets which are now resistances are setting up for a ST pull back. As I noted breadth negative divergences during the last few weeks, having a correction is health.
We still need to see market reaction to GOOG earning on 1/31, and also market reaction to MSFT earning in the morning to confirm a ST correction. However, reaching the breakout targets after the recent rally with breadth negative divergences which I noted for a few weeks is setting up for a ST correction.
The ST correction targets are: NASDAQ 2370, SPX 1385 and DOW 12100.
Caution) QQQQ breaking above 45.50 will be, Qs will trade to 47; therefore, it requires proper risk management.
[/quote]
Edited by Trend-Signals, 26 January 2007 - 12:28 AM.
#3
A-ha
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- Traders-Talk User
- 5,875 posts
Member
Posted 26 January 2007 - 02:01 AM
Thanks for the nice charts and comments.
