4 replies to this topic

[mss]

It appears we are due a small pullback, 1228+/-, but think we are now trying to clear the way to 1245-1255. The pattern is not all that clear to me just yet but hope a couple of days will give me a good outlook. In the interim here is the "power" move still suggesting strength.





Comments welcome.

[Rogerdodger]

Good charts make good calls. Thanks.

[bobalou]

nice,,,my bs,,the charts look like dec 1,for that 1245 and some wip saws to get there,could buy the dips ?

[mss]

POSTING FOR BOBALOU:

my bs view or road map on the SP.this is to let me
know when I'm wrong, or some thing elce is going
on..near a st high..you can see we should play w/ old
highs,till 12/1 ? 1245 ? ,,undo mojo,,retrace into
options ?,then work higher ? the nas is a little
stronger.a good thing..let's see if sam plays it
again..you have to
love mss's charts...thanks

[PorkLoin]

MSS, again let me say good call on picking the October low. We've rallied enough that it looks pretty clear to me that the August high was not the end of the move up from 2002/2003. Maybe a diagonal triangle from the August 2004 low taking shape? This would give us an overall deal like the diametric triangle SilentOne mentioned on this board.

I think the NDX and SPX will make new highs on the year, potentially finishing up the rally. DJIA -- weaker, doubt it will go above the 2004 high.

If anything here, short-term I'd look for a pullback to buy the SPX/NDX.

Best,

Doug