Monday's Low and Possible Targets

I'm not ruling out a move lower than my earlier 1307 projection for Monday's down side projection. Actually, we can move lower to as low as the 1288/90 area mid session Monday. The reason I'm in cash right now is that the odds favor the upside next week "so strongly" that being short against the ST trend doesn't make any sense to me at this juncture. While the VST trend looks lower into probably mid session Monday, my strategy is to wait for a confirmed bottom and go long. If we hit the 1288/90 area by approx 1:15/30 EDT Monday, I will commit to the long side, otherwise will I re-evaluate. If C= 1.236 A, a move from 1288 to 1418 is possible and that is the 50% retracement of the October top to the March bottom on the SPX. If we hit 1288 and were to rally to 1418, I would think that the top would instead be Monday April 7th 4 x 1.236 = 5. blu

I'm not ruling out a move lower than my earlier 1307 projection for Monday's down side projection. Actually, we can move lower to as low as the 1288/90 area mid session Monday. The reason I'm in cash right now is that the odds favor the upside next week "so strongly" that being short against the ST trend doesn't make any sense to me at this juncture.

While the VST trend looks lower into probably mid session Monday, my strategy is to wait for a confirmed bottom and go long. If we hit the 1288/90 area by approx 1:15/30 EDT Monday, I will commit to the long side, otherwise will I re-evaluate.

If C= 1.236 A, a move from 1288 to 1418 is possible and that is the 50% retracement of the October top to the March bottom on the SPX. If we hit 1288 and were to rally to 1418, I would think that the top would instead be Monday April 7th 4 x 1.236 = 5.

blu

You think we could rally from 1288 to 1418 in 4 1/2 trading days??? That's almost 30 points a day from the bottom! Is there some type of technical information that leads you to make such a "bold" prediction? Let's assume that we don't go down much on Monday. How will you get long?

IT

I've found blustar to be more accurate at turning points than the magnitude..

But then again, markets turn so much, you can't really make money without the other half.

From my blog:

Sunday, March 23, 2008
For next week...

I think we get 2 up days (monday/tuesday) before the TT crowd gets a reminder that the market doesn't just go straight up..

Wednesday, March 26, 2008
Down day #1

And 2 more to go, but I suspect friday may be a turn around day.. drop and recovery with a tail.

MCO needs to head below zero to get the bears salivating, and I think that will still be done.

I would like to see RSI2 < 20. A price target I am looking for is about 200 more dow points.. or about Qs 43.5.

Sometimes I can nail it on the head, some times I'm horrible.. just a matter of making sure that total account balance keeps going up.

Edited by dcengr, 30 March 2008 - 02:50 PM.

I'm not saying we will do anything, but just give possibilities, and true, I'm better at turning points than magnitude.