yesterday SPX overshoot above that 4 year channel.... probably to run some stops placed right above the TL... Now SPX gapping down 5 points... which makes it a fakeout
Gap down
Started by
A-ha
, Feb 21 2007 09:03 AM
8 replies to this topic
#2
dcengr
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Posted 21 February 2007 - 09:19 AM
I'm a bit nervous about the Fed minutes...
Last few fed events were excuses for short squeezes.
Qui custodiet ipsos custodes?
#3
Pabst
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Posted 21 February 2007 - 09:21 AM
yesterday SPX overshoot above that 4 year channel.... probably to run some stops placed right above the TL... Now SPX gapping down 5 points... which makes it a fakeout
"that 4 year channel".... Could you post a pic of the channel XD?
One of the postits on my screen says, "no trend lines!!!". But I do appreciate a uniform channel.
Free market's for free men!
#4
A-ha
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Posted 21 February 2007 - 09:24 AM
yesterday SPX overshoot above that 4 year channel.... probably to run some stops placed right above the TL... Now SPX gapping down 5 points... which makes it a fakeout
"that 4 year channel".... Could you post a pic of the channel XD?
One of the postits on my screen says, "no trend lines!!!". But I do appreciate a uniform channel.
I had posted it on xTrends a while ago...
here is the link
http://xtrends.blogs...rket-crash.html
#5
eminimee
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I don't care who's fur is flying...
Posted 21 February 2007 - 10:36 AM
#6
A-ha
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Posted 21 February 2007 - 10:46 AM
It looks like a hourly chart.....If it goes up there to test that top line, it will break out on weekly...
which is unlikely to happen because 4 year long channel top line on a weekly chart is much more powerful than a hourly or even daily channel top line.
#7
eminimee
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I don't care who's fur is flying...
Posted 21 February 2007 - 11:06 AM
I know...I'm using 1462 spx...a bit higher if throwover. Refresh the page again...I've put a box in as target..forget the path for now.
Edited by Teaparty, 21 February 2007 - 11:01 AM.
#8
A-ha
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Posted 21 February 2007 - 11:14 AM
It perfectly makes sense, I have a similar target on ES....just a little higher than yesterday's high.
posted here
http://xtrends.blogs...nd-s-emini.html
posted here
http://xtrends.blogs...nd-s-emini.html
Edited by xD&Cox, 21 February 2007 - 11:15 AM.
#9
arbman
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Posted 22 February 2007 - 03:26 AM
I said a few weeks ago an SPX target of 1450-1460 for the same reason including a top expectation before March, but if it breaks above there on volume, oh boy oh boy... Instead, I expect several tests until exhausted and the bulls give up, something like for 2-3 months... It will suck in all the money of the world! 
