Sure, the FED and Central Banks threw tons of cash into the markets but
this rally is unsustainable. Look for a rapid retracement back to SPX 1200 or lower.
But, the ST and IT low has been made.
TOO FAR, TOO FAST
Started by
dTraderB
, Sep 19 2008 12:03 PM
1 reply to this topic
#2
beta
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- Validating
- 4,384 posts
lasergirl
Posted 19 September 2008 - 12:39 PM
Sure, the FED and Central Banks threw tons of cash into the markets but
this rally is unsustainable. Look for a rapid retracement back to SPX 1200 or lower.
But, the ST and IT low has been made.
I see the new trading range as 1178-1308 (1180-1200 will be aggressively bought imo).
This is increasingly looking like an ABC up, with today's high marking the half-way point.
Ideal place to open a straddle trade.
Edited by beta, 19 September 2008 - 12:41 PM.
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