is probably all she wrote for today.....next SPX 716. Sorry to bother with another update.
SPX 752
Started by
NAV
, Feb 27 2009 02:08 PM
7 replies to this topic
#2
da_cheif
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Posted 27 February 2009 - 02:10 PM
is probably all she wrote for today.....next SPX 716. Sorry to bother with another update.
ya think????
#3
tomterrific14
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Posted 27 February 2009 - 02:10 PM
is probably all she wrote for today.....next SPX 716. Sorry to bother with another update.
downgap on SPX filled...backing off it for now
#4
parkus
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Posted 27 February 2009 - 02:28 PM
is probably all she wrote for today.....next SPX 716. Sorry to bother with another update.
downgap on SPX filled...backing off it for now
Actually the gap is still open. High of day is 751.27 and yesterday's close is at 752.83 so this big turn down without filling the gap is good for the bears. Today has no doubt been a battle. Bulls using WMT and IBM to their utmost advantage.
This should get interesting with 90 minutes to go. We should start heading for new lows by the close. If we close positive this wave 3 of 5 may be over (even though today's low doesn't exactly make my count work out very nicely). Wave 1 = wave 3 at 140 points at 735 though.
#5
mss
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I'M WATCHING
Posted 27 February 2009 - 02:39 PM
To answer a few, the channel really has a flat bottom and a down sloping top, which suggests a breakdown. I prefer the consolidation triangle pattern, JMO, and other things pointing to weakness, suggests down. Projection, 500 not out of the realm of chance, but later if/when. My projection was posted weeks ago, 741 failure = 700/695 and I think by mid year OR sooner. Tomorrow, 737+/-
Yes we will have bounces but 803ish has now become an extremely hard and stiff resistance area. I posted a chart on Swing Waves indicating this, I think
Under todays type market anything can happen out of normal context so any body's forecast is subject to sudden and rapid change.
mss
We got time, it will get there.
mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#6
unosuke
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Posted 27 February 2009 - 02:46 PM
SPY last 15-minute candle, volume accelerates as it pushes into 74.41. Pound! Pound! Pound! Pay attention to volume.
Current Positions: Long EEV @ 40.29, Long DUG @ 24.66, Long DXD @ 59.62, Long SDS @ 72.70, Long TWM @ 61.84, Long QID @ 48.21, Long FXP @ 20.43, Long SSG @ 43.76, Short XOM @ 69.31, Short AAPL @ 117.52
#7
NAV
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Posted 27 February 2009 - 03:33 PM
is probably all she wrote for today.....next SPX 716. Sorry to bother with another update.
ya think????
wasn't it ?? Don't daytrade anymore, but the skills are still alive.
#8
tomterrific14
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Posted 27 February 2009 - 03:33 PM
is probably all she wrote for today.....next SPX 716. Sorry to bother with another update.
downgap on SPX filled...backing off it for now
Actually the gap is still open. High of day is 751.27 and yesterday's close is at 752.83 so this big turn down without filling the gap is good for the bears. Today has no doubt been a battle. Bulls using WMT and IBM to their utmost advantage.
This should get interesting with 90 minutes to go. We should start heading for new lows by the close. If we close positive this wave 3 of 5 may be over (even though today's low doesn't exactly make my count work out very nicely). Wave 1 = wave 3 at 140 points at 735 though.
if today's downgap is a breakaway or continuation/measuring gap, would you measure the halfway point from the Jan or Feb high?
