the mkt is really in a bad position here

this rally looks like the march rally and the july rally...right before it rolled over

Agreed We're about to roll over, IMO This thing's just running on holiday mood swings at this point...the rally ended earlier this month, IMO, when it ran out of gas Although I refuse to take any significant positions before Monday

Edited by alysomji, 30 December 2008 - 09:30 PM.

Agreed

We're about to roll over, IMO

This thing's just running on holiday mood swings at this point...the rally ended earlier this month, IMO, when it ran out of gas

Although I refuse to take any significant positions before Monday

if they can jam it the next two days they will make the fools think that it will take off on jan 5 when the playas are back...but i think it sells off in early next week with no rally materializing

Agreed

We're about to roll over, IMO

This thing's just running on holiday mood swings at this point...the rally ended earlier this month, IMO, when it ran out of gas

Although I refuse to take any significant positions before Monday

if they can jam it the next two days they will make the fools think that it will take off on jan 5 when the playas are back...but i think it sells off in early next week with no rally materializing

I'm hoping we touch the 50-day EMA by Friday (sitting at about 917) and then make the usual holiday reversal next week, forming a strong sell-off starting on Monday and sending a clear message to everybody to put a lid on their bullishness

The excessive optimism and the MSI moving closer and closer to sell zone territory are encouraging and indicate that we will be right

I'm looking for something like 815 or lower within 2-3 weeks

I caught the top of the Market in March. The day way up about the same percentage but Advances/Declines were much worse. Close to 1:1. Today was so/so breadth, but it is definitely stronger now. I'm staying long, hoping for a break above 50-day MA to spur a rally... Barry

This is the 3rd post I've read here which claims 920 or so as the top. What if SPX closes above 923? What then?

This is the 3rd post I've read here which claims 920 or so as the top. What if SPX closes above 923? What then?

We'll look at the charts again when that happens

All we can trade on is what we see and I really have a hard time seeing the S&P close above 923 without first seeing some sort of significant selloff - likely taking us to around 815 and perhaps below

We should find out next week, regardless

Can't wait for some volume to return to this slop of a market...as I said, I wouldn't take any significant positions until Monday at the earliest

Agreed

We're about to roll over, IMO

This thing's just running on holiday mood swings at this point...the rally ended earlier this month, IMO, when it ran out of gas

Although I refuse to take any significant positions before Monday

if they can jam it the next two days they will make the fools think that it will take off on jan 5 when the playas are back...but i think it sells off in early next week with no rally materializing

I'm hoping we touch the 50-day EMA by Friday (sitting at about 917) and then make the usual holiday reversal next week, forming a strong sell-off starting on Monday and sending a clear message to everybody to put a lid on their bullishness

The excessive optimism and the MSI moving closer and closer to sell zone territory are encouraging and indicate that we will be right

I'm looking for something like 815 or lower within 2-3 weeks

I got the 50 day at under 890. What are you looking at?

IT

Nevermind. I was looking at the SMA. You're looking at the EMA. My apologies.

Edited by IndexTrader, 30 December 2008 - 10:33 PM.

I'm looking at Prophet charts EMA (50) = 916.04474 daily 10 year chart

I evidently edited while you were posting. SMA is about 890. EMA is as you said. I'm suprised the EMA is so high. IT