If SPX can't close today back above 1270....I don't think we'll be seeing anything back over the 1275 mark for a good while..and we are on our way to new lows.
Warning..
Started by
eminimee
, Aug 25 2008 12:17 PM
12 replies to this topic
#1
eminimee
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I don't care who's fur is flying...
Posted 25 August 2008 - 12:17 PM
#2
Jnavin
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Posted 25 August 2008 - 12:28 PM
I think I'd put the bear/bull line at SPX 1277...swinger, what do you think?
#3
arbman
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#4
selecto
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Posted 25 August 2008 - 01:24 PM
If one likes this for a flag, then the target is 1085.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p89392423665&a=122976763&r=9107.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p89392423665&a=122976763&r=9107.png
#5
ogm
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Posted 25 August 2008 - 01:59 PM
I think another big down day this week almost guaranteed now with the current setup.
Possibly even tomorrow. Or flattish tomorrow, and hard donw Wednesday.
ITBM/ITVM rolled over at zero line. Summations rolled over. Shabby uptrend is broken. MACD rolled over at zero line. Moving averages held and price breaking back down. We're heading back to were we belong.
#6
dcengr
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Posted 25 August 2008 - 02:04 PM
If SPX 1260 gets tested, it will fail. That much I know. Support after that is SPX 1250.
This is wave C down.
Qui custodiet ipsos custodes?
#7
arbman
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Posted 25 August 2008 - 02:19 PM
5 points range for 3 freaking hours, where the hell are the sellers?!?
#8
milbank
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Posted 25 August 2008 - 02:22 PM
Yeah. I can't recall the last time there was such a tight hover for so long after that much of a drop.
"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
#9
Jnavin
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Posted 25 August 2008 - 02:22 PM
5 points range for 3 freaking hours, where the hell are the sellers?!?
East Hampton, Montauk Point and the island of Malta...but they have cell phones and lap tops.
Edited by Jnavin, 25 August 2008 - 02:23 PM.
#10
beta
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lasergirl
Posted 25 August 2008 - 02:24 PM
If one likes this for a flag, then the target is 1085.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p89392423665&a=122976763&r=9107.png
Looking at your spx chart, I see a possible "B" down in progress.
To be followed by a "C" up, projecting to around 1350.
"Daytrading -- An Extreme Sport !"
