no divergences yet. The SPX Friday opening print should be a tradeable low if we continue down into it. We are now in my 7-10% correction window, with a 10% in the SPX 1200ish area.
SPX
McO
B
bottom?
Started by
tommyt
, Mar 16 2011 10:50 PM
4 replies to this topic
#2
porsche911sg
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Posted 16 March 2011 - 11:06 PM
I think you're it should be a tradeable bottom. but than it could be all over in three days.no divergences yet. The SPX Friday opening print should be a tradeable low if we continue down into it. We are now in my 7-10% correction window, with a 10% in the SPX 1200ish area.
SPX
McO
B
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#3
tommyt
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Posted 16 March 2011 - 11:16 PM
I think you're it should be a tradeable bottom. but than it could be all over in three days.no divergences yet. The SPX Friday opening print should be a tradeable low if we continue down into it. We are now in my 7-10% correction window, with a 10% in the SPX 1200ish area.
SPX
McO
B
Inv Intell has 52% bulls and 22% bears this last report. Not good for the bull camp.
#4
thespookyone
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- Traders-Talk User
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Member
Posted 16 March 2011 - 11:19 PM
I'm with you Tommy. No divergence, no bottom. Unlike most, I think it will take a fair amount of time to bottom this out. As for targets-I like 1195 closing basis-1174 intraday.
#5
porsche911sg
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- Traders-Talk User
- 2,907 posts
Member
Posted 16 March 2011 - 11:28 PM
This seems the ingredients required for that short outburst has has it fall back to new lows. I am just waiting for the rally to short.I think you're it should be a tradeable bottom. but than it could be all over in three days.no divergences yet. The SPX Friday opening print should be a tradeable low if we continue down into it. We are now in my 7-10% correction window, with a 10% in the SPX 1200ish area.
SPX
McO
B
Inv Intell has 52% bulls and 22% bears this last report. Not good for the bull camp.
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
