Edited by redfoliage2, 16 July 2010 - 02:42 PM.
SPX 1070
Started by
redfoliage2
, Jul 16 2010 02:38 PM
6 replies to this topic
#1
redfoliage2
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Posted 16 July 2010 - 02:38 PM
If bulls can get above this line, then you are OK, this is just a wave b down with wave c up still out there . Otherwise, this recently rally is finished and everyone needs to pack up and go to the beach for the rest of the summer..............
#2
arbman
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Posted 16 July 2010 - 02:40 PM
I raise it 1075, in fact 1080, this rally is quite doomed.
#3
redfoliage2
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Posted 16 July 2010 - 02:51 PM
There still a chance to get there Monday.............I raise it 1075, in fact 1080, this rally is quite doomed.
#4
arbman
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Posted 16 July 2010 - 02:53 PM
I would like to use the f-word for this market...
It is looking that bad to me, any gap up rally on Monday morning is still a sell.
#5
redfoliage2
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Posted 16 July 2010 - 02:58 PM
I have seen many times they gap up for those assigned to buy after OpEx..............I would like to use the f-word for this market...
It is looking that bad to me, any gap up rally on Monday morning is still a sell.
Edited by redfoliage2, 16 July 2010 - 03:01 PM.
#6
milbank
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Posted 16 July 2010 - 03:08 PM
Well, not much short covering at all in the last 45 minutes and on a Friday. This could get mighty ugly Monday so I took my usual sized position in SDS at the close. I will add TZA once the market opens if it looks good to super-charge the SDS position.
Edited by milbank, 16 July 2010 - 03:10 PM.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#7
goldswinger
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Posted 16 July 2010 - 03:12 PM
I would like to use the f-word for this market...
It is looking that bad to me, any gap up rally on Monday morning is still a sell.
I have a confirmed sell based on my FXY:FXE ratio chart and some other SPY charts as well.
I am long playing the bounce Monday AM and then will reshort...... unless we crash, but I doubt it, Today was the minicrash....as many were long.... based on that lagging indicator NYSI and other things....
GS.
Edited by goldswinger, 16 July 2010 - 03:13 PM.
