Last week's break out looks real

I think that a daily and weekly close above 950 - 960 SPX zone is significant. Despite the fact that many economic indicators don't support this, my technical indicators are turning very bullish longer-term. Read Index Trader's post this weekend and Decision Point's Carl Swenlin's analysis. I agree with them. I still have bearish options strategies. I am planning to close them during a pull back to 950 - 960. I will post more analysis later this week. Denleo

Excellent. Thanks

Everything but volume, Den.

"The Dow is coming off its best weekly performance since March 2000, and if memory serves us correctly, that month was marking the beginning of the end of the great bull market at that time. While the bear market rally has been of 1930 proportions, from our lens, that is what it remains and what is lacking in this extremely flashy runup in equity prices are: (i) leadership, (ii) quality, and (iii) volume." from David Rosenberg at Gluskin-Sheff this morning.

I think that a daily and weekly close above 950 - 960 SPX zone is significant. Despite the fact that many economic indicators don't support this, my technical indicators are turning very bullish longer-term.

Read Index Trader's post this weekend and Decision Point's Carl Swenlin's analysis. I agree with them.

I still have bearish options strategies. I am planning to close them during a pull back to 950 - 960.

I will post more analysis later this week.

Denleo

i thought 666 or 840 were significant.

"The Dow is coming off its best weekly performance since March 2000, and if memory serves us correctly, that month was marking the beginning of the end of the great bull market at that time. While the bear market rally has been of 1930 proportions, from our lens, that is what it remains and what is lacking in this extremely flashy runup in equity prices are: (i) leadership, (ii) quality, and (iii) volume." from David Rosenberg at Gluskin-Sheff this morning.

the 29-30 run up was about 4.75 months 1.25 up .5 correction and 3 last up before the drop total 51.5%. This time so far it is the inverse 3 up .5 correction and 1 up and 47.45% pretty close and same sentiment around here as back then from what I have read. Not saying we topped but it is kinda cool how close we are to that run. We may hang above 900 for months before a test of the lows also. In addition due to the bigger drop of this crash 56% SPX and about same for NDx instead of 48% Dow we may also pop more. The NDX "THE LEADER" has done 3% more with an almost 55% pop and a almost exact1.62 fib extension of time to the 29-30 drop. The turn last week on NDX has come exactly around its 62% time retrace from it's low also.

The next shoe to drop may not even come from US on a systemic scale it could come from Europe as it did to set off the 30-32 drop. We need to think more global and less US centric for how the outcomes may play out. Just a suggestion folks.


while I am here ...My st trades have been on cue from last night so far. One good short coming later this afternoon.

Z

zoro, could you please stop making mount hoperest higher, my legs are getting tired ;-)

Everything but volume, Den.

Not Exactly... over 3B shares at the high... that's STRONG Volume.

http://bigcharts.mar...&mocktick=1.gif

zoro, could you please stop making mount hoperest higher, my legs are getting tired ;-)

loved that.

Re- what is 50 points up between friends to 200-400 south potential down the road?

I got to adjust as I see em. We could challenge the 200 month SMA around 1013 ish SPX. We got to work through this time turn first though.

What is an interesting question is... has the stock market discounted the next lows of the dollar or not? Since it is likely to go to 76.50-77.50.

another attempt around those dollar lows to a high around August 10th may be interesting if it plays out that way.
Z

Edited by zoropb, 27 July 2009 - 12:31 PM.

aug 10 should also get summations up close to the previous top vix gapped up today, that should get filled vix in the twenties is vey calm after the vix 40+ period, trend seems weak because we have gotten used the high vix just some random thoughts so what happens next two hours es up to 979-980 and then down to 973 ;-)