SPX going to 1320 shortly

http://www.traders-t...showtopic=82277

short ES @ 1435
intermediate term trade..

http://www.traders-t...showtopic=82332

whales migrating...

folks i am no advisor but i run money... i couldnt help when i seen what i saw today here...

the market topped out yesterday on two artificial manipulation, you know what they are......

ES 1435 was the top yesterday, that was where the big breakdown occurred a few days ago... it is going significantly lower, that is that simple

yes we can go a few points higher here and there but the trend is down. please dont be a sucker... swim with the whales

ps: i will let you know when i cover...

Edited by A-ha, 15 January 2008 - 09:48 PM.

You rock Cha Ching!

But the main reason I am reminding is the fact that people can not grasp the situation exactly... This is not a bull market , general conditions changed. We are entering in the sweet spot of this IT cycle... that is, if you were right, now this is time sit tight ! Breakdown is relatively fresh and you aint see nothin yet... 1435 was where it broke down big time This doesnt mean we can not rally here and there... Of course we will... Look at Equity PC=1.05 maybe not enough reason but it is a sign... do I care.. absolutely not ! Because I know this for a fact that this intermediate term move will end with an unique selling climax... Could be a mini crash or crash but be ready for the day of reckoning...

Edited by A-ha, 15 January 2008 - 10:06 PM.

1320 target is consistent with EW pattern for wave 5 down if wave 5 = wave 1. Wave 1 started 12/10/07 at 1520, ended at 12/18/07 at 1440. If wave 5 = wave 1, and wave 5 started at 1420, then we can expect wave 5 to terminate at 1340. And some change as my math isn't the exact spx values of the dates i've listed.

I have had a working target that I mentioned back in December.....1340-1350 basis March ES. That said, I could see something on the order of 1150 on down the road. Either way, the absolute number is not that important. The point is that we are moving lower. IT

I have had a working target that I mentioned back in December.....1340-1350 basis March ES. That said, I could see something on the order of 1150 on down the road. Either way, the absolute number is not that important. The point is that we are moving lower.

IT

Yes targets are relative to the conditions which changes in time...
Trend is down, that is the main point but when it will end?
A selling climax is needed.

A-Ha: Great calls lately-but nothing new about that, really, congrats! Agree with your take, and feel that a selling climax with TRUE fear is needed to put any sort of bottom on the market-be it short or long term. Folks were buying dips for so long, they can't seem to break the habit. Even on the board here, where you find some excellent traders-we've seen many fishing for "The Bottom" for well over a week. OGM put it quite well a bit back, when he proclaimed "failure and hop:-dead on the money. Folks want sentiment, the fed, pc, you name it-to bail them out of ill advised trades. It would seem too few of us have taken advantage of this large drop (present company excluded, of course). Considering market action, I've seen an incredible lack of fear, BUT, it's commmming. Good trading to you! Spooky

I have had a working target that I mentioned back in December.....1340-1350 basis March ES. That said, I could see something on the order of 1150 on down the road. Either way, the absolute number is not that important. The point is that we are moving lower.

IT

Exactly what my thinking is...we are headed lower, much lower. I just can't think of
a catalyst that will move this market higher.

Housing is in a funk, corporate earnings are declining, energy is inflating, gasoline is draining
cash from consumer's pockets, China & India are putting increasing demand on gasoline,
US Treasury is running big budget deficits, Iraq war continues to drain US Treasury, Trade
deficits are huge, dollar is tanking, credit markets are in a funk, and a lame duck president
sits in the oval office on his last year in office.

Worst of all, Fed is between Iraq and a hard place. Rates are already lower than 30 year
average so not much room left to stimulate, and with commodities inflating and dollar tanking,
they are almost powerless.

You can't run the economic growth engine on fumes.

Good news is Market should find lots of support at 1160 SPX, a 50% retrace from recent high and 2003 low.

Edited by pdx5, 16 January 2008 - 01:10 AM.

"This is not a bull market , general conditions changed" Is that what you would call THE NEW ENVIRONMENT ??? Denleo P.S. what I called the new environment a few months ago is now coming to an end.