Should gap up on monday

following a candle like the one on friday But long term indicators (ema crosses, cci monthly, bollinger monthly etc) are telling me at least for the moment things have changed. Therfore things should not happen as we have been used to monday will be a good indicator of whether things have changed bullish would be a gap up, which does not get filled, and keeps spx going up until march 10 - price target, well maybe 1440 around the downtrend line an outcome that supports that things have changed at least for the moment, would be a gap that gets filled or no gap, and a resumption of the move down regarding friday's action, i think it would have been more bullish had it happened without any rumours, but just on its own and would also want to see ndx lead the move up but there is a hammer and an unfilled gap on monday would produce a bottom signal like the one on aug 16 2007 and march 2003 let the market talk on monday

market needs a followthrough day (ala O'Neil) on monday to gain an edge for the bullish scenario. should be interesting in any event.

My fearless forecast: We gap UP on Monday, stall at 1370 SPX during late afternoon, market closes up but not at HOD. Rally declines (1330-34'ish on SPX) into Feb. 27th LOW, then rally to 1400 into March 4/5th (Obama victory?).....More lows to come though....I am still not establishing long term equity/fund positions yet....trading and waiting. Big cycle turn April 10/11th and also in late June, not sure which of these will be the low. There will be some big 8-10% moves in both directions.

My fearless forecast: We gap UP on Monday, stall at 1370 SPX during late afternoon, market closes up but not at HOD. Rally declines (1330-34'ish on SPX) into Feb. 27th LOW, then rally to 1400 into March 4/5th (Obama victory?).....More lows to come though....I am still not establishing long term equity/fund positions yet....trading and waiting. Big cycle turn April 10/11th and also in late June, not sure which of these will be the low. There will be some big 8-10% moves in both directions.

i wonder if the low was put in ... until at least aftter the elections. this could be the start of a election pimp and pump. im seeing bullish steups on charts so i will have to just trade what i see.

I think we are going up huge. The FEDS have found a machine which prints rumors.

Look, I don't like a lot of "things" I see out there either. But I'm not trading that.
Yep, going up, I think so too. Don't care 'bout the news or not, at this moment. The setup/TA is in place.
Fairly easy money to SPX 1415ish. Then reassess.

I see it as Bullflagging the last seven days, some minor, but just enough postive diverg, to do it. Short squeeze.

This time/price cycle has played out.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=0&dy=0&i=p68597212760&a=106183641&r=1291.png

I think we are going up huge.
The FEDS have found a machine which prints rumors.

Whoa Rog! Another good one. Your posts have been a hoot this weekend.

You must be very happy that silly writers' strike is over with.

Edited by milbank, 24 February 2008 - 02:31 PM.