spx 2150: reflections on this powerful bull market

Posted 08 January 2009 - 02:50 AM

let's take a look at the lower uptrend line off of the perfectly-fibo-extended low at spx 741 on 11/21/08. i'll use yesterday's low. i'm interested in the angle of advance off of the low. it's so easy a caveman could do it, so maybe i can: spx 741 ---> spx 902 = 161 pts 11/21/08 ---> 1/7/09 = 47 cds 161/47 = 3.42 points rising per calendar day for perspective: using that LOWER t/l, at this rate of advance we will be at spx 2150 in a year! i am not forecasting that Price target, but who knows? ™

Edited by humble1, 08 January 2009 - 02:52 AM.

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Posted 08 January 2009 - 03:07 AM

http://stockcharts.c...t?obj=ID1926808

see his view on SPX..I am trading ES overnight today

some of my 60min charts look useful for risk measurement as of Jan 7th close -

http://www.websiteto...618?forum=30657

happy humble!

director Martin S. put together a documentary about the Rolling Stones that we watched tonight...very interesting -

http://www.imdb.com/title/tt0893382/

Edited by hiker, 08 January 2009 - 03:09 AM.

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Posted 08 January 2009 - 03:28 AM

i'll check 'em out. i have to go feed my dogs first. they are roaming around and coming up to me with their wet noses and wiping their nasty snouts on the swedish recliners and tickling my arm with their whiskers they know how to communicate! p.s. i love them more than i love ms. market, but please don't tell them. ™

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Posted 08 January 2009 - 03:30 AM

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Posted 08 January 2009 - 03:36 AM

okay: that's a perfect example of the subjectivity of straight fibo retracement levels. so, why the 8/11 high as the ZD Line (tm: H1)? why not the 9/2 or the 5/19 or the 10/11? and it is pretty rough at that. some work but you need to have a REASON for them other than that your software spits them out. no offense, please: but that is just rubbish. ™

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Posted 08 January 2009 - 03:42 AM

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Posted 08 January 2009 - 03:55 AM

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Posted 08 January 2009 - 04:04 AM

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Posted 08 January 2009 - 04:10 AM

hiker: i didn't think much about that (the putative fallling wedge) one way or tuther; i don't even remember seeing it. maybe i'll go back later and peruse.

too bad one of the bulls turned bear is awake. It's a classic bear flag.. she going down captain...everyone to liferafts

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Posted 08 January 2009 - 04:13 AM

putative - "assumed to exist or to have existed" happy humble has dogs that do not mumble and speak without a stumble they love humble. humble can make TT posters humble tolerate nary a stumble without humble, TT posters may fumble. now, now let's not make a bungle! enduring humble loves his dogs more than a TT mumble.

Edited by hiker, 08 January 2009 - 04:14 AM.

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