SPX Bearish flag
Started by
Swiss Trader
, Jan 08 2009 01:11 PM
14 replies to this topic
#1
Swiss Trader
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Posted 08 January 2009 - 01:11 PM
If true...new lows coming
#2
relax
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Posted 08 January 2009 - 01:33 PM
it seems too simple
but could be right
i think it is far too early, so far overbought situation is being neutralized
on the top of my head there are four negatives
BKX is looking weak
ABK is rallying (often the last to rally)
Volume MCO has not confirmed the breadth thrust
PHK has gapped down today
#3
Lee48
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Posted 08 January 2009 - 02:43 PM
I like nice and simple. Looks like something to keep an eye on as these rallies tend to run out of gas within 8 wks, or by Jan 21st....
#4
blustar
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blustar
Posted 08 January 2009 - 03:23 PM
NO, a bullish flag.
#5
vitaminm
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Posted 08 January 2009 - 03:33 PM
The december flag is flying 100 feet above the ground! may not fall so quick!
Edited by vitaminm, 08 January 2009 - 03:34 PM.
vitaminm
#6
LarryT
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Posted 08 January 2009 - 07:21 PM
If true...new lows coming
What is your wave count from the 1440 high into todays trading?
LT
#7
Russ
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Posted 08 January 2009 - 09:12 PM
NO, a bullish flag.
Bullish flags point down, not up, that it technical analysis 101.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#8
NAV
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Posted 08 January 2009 - 10:35 PM
NO, a bullish flag.
Bullish flags point down, not up, that it technical analysis 101.
#9
blustar
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blustar
Posted 08 January 2009 - 11:15 PM
Bullish flags point up when the previous impulse was up as in the case right now. Notice that the previous impulse was down and that was a bear flag before. Sorry, we are in a bull flag right now and after a pull back to complete this flag by Monday the next impulse will be to the upside.NO, a bullish flag.
Bullish flags point down, not up, that it technical analysis 101.
#10
Swiss Trader
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Posted 09 January 2009 - 02:56 AM
BEARISH FLAG EXPLAINED FOR IGNORANTS
There is a chance that we go higher till mid february early March (SPX 1050), but if we breakdown under 850 odds for news lows are very high
There is a chance that we go higher till mid february early March (SPX 1050), but if we breakdown under 850 odds for news lows are very high
Edited by Swiss Trader, 09 January 2009 - 03:01 AM.
