15 replies to this topic

[mss]

Well after reviewing many charts and indicators, it appears that the bottom is in. However, a "V" bottom is very rare and often is followed soon by another quick "V" or double "V" bottom, even at higher or lower lows. We are on the verge of a very large move and IMO to the upside. I also think we get at least one more scary down move. NONE of these opinions are just mine alone, I got lots of company.
Below are two charts that will signal quickly where we are . The VXO still has not broken the RED HZ. line to the upside but appears to be ready soon. Carl at DP says we broke out of the triangle and I agree. I also see two potential movements both in a larger triangle failure/breakout and in a channel retrace to lower TL and so forth. Great times ahead, be ready.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=7&dy=0&i=p71826300982&a=116044349&r=7822.png

http://stockcharts.com/c-sc/sc?s=$ONE:$VXO&p=D&yr=0&mn=3&dy=0&i=p04265175043&a=117451476&r=2958.png

Comments always welcome.
mss

[SilentOne]

hi mss,

We are on the same page. If it weren't for the FED dramatics, I would be a lot longer in core positions. Remember this?

Meanwhile I watch this chart of yours. It would not surprise me if this chart confirms a bottom next week.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p77850608334&a=113511538&r=1010.png

I read Carl Swenlin's comment this weekend as well. So as I mention in a recent post, the challenge will be where and when to pick long entries from here. I still see consolidation from here into October, but a test of the highs could be dramatic (ie. Major Bull Market Breakout time). It is the same dilemma in the PM sector.

cheers,

john

[bobalou]

I like it that we see the same thing. w/ window dressing,the tell could come in on thursday. if you look at my chart on the rut the testing could be done.pull backs to work higher O K. but,I do not see a big move up at this time. .thx

[mss]

Don't laugh folks, but I'm starting to see 1543-52 very soon. Two steps, 1539, a breath, then1543ish to 1549ish. 231 mss

Edited by mss, 27 September 2007 - 10:04 AM.

[Doug]

All very well but do you see 1560 before OCT expiration? regards.

[mss]

All very well but do you see 1560 before OCT expiration?

regards.

1552.39

[Doug]

As a seller of calls and puts - I'll hold you to that number Regards,

[mss]

All very well but do you see 1560 before OCT expiration?

regards.

1552.39

Doug,
Is 1549.02 close enough, or are you good for tomorrow? 0.002% error, i'll do better next time.

[SilentOne]

hi mss,

I'm not sure what this market wants to do with the unemployment number Friday, but I would have to guess there will be limited upside after that occasion. Do we get bear capitulation tomorrow?

So the SPX is +4% from FED day. Now just give me a decent opportunity to add some longs this month.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p77850608334&a=113511538&r=1010.png

I guess market sentiment has changed some from August (ie. YES!! the bottom is in)

cheers,

john

[Jnavin]

Slight new high, then...selling, perhaps back to 1515. Just guessing.