8 replies to this topic

[Tor]

Look at the charts. It appears that a test of the LT high ar 1552 is pretty much in the bag. I feel very confident on this projection, and if it doesnt work out I know I open myself up to look stupid. It is all about timing however. i went long a small amount last night. Stop at yesterdays lows. If I get stopped out, I will look for another re entry point, but I feel pretty confident those old highs will attract like a magnet. ON reaching those highs, expect a bigger pullback and then we power up to new highs SPX later in the summer. Good trading. LT/MT ST

[eminimee]

Not sure about the all time highs just yet...have possible targets for a B wave high (yes...haven't given up on that yet)
Targets: 1. It's already in at 1498 and we double top. 2. 1508. 3. 1515.
Short term..we are ZZing into a low near SPX 1465 and we'll have a fast reversal out of that bottom as it will be a fake breakdown of a H&S pattern on the hourly.......shorts will be scrambling to get out. Then on to one of above targets before a substantial correction to SPX 1340ish....or my favorite number OEX 615. Shorted 1496 this morning ES, target 1472/75...if SPX gets back over 1489 for more than a quick peak this morning...bottom maybe in.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=3&mn=6&dy=0&i=p26029319412&a=74401962&r=2215.png

Edited by Teaparty, 02 May 2007 - 08:00 AM.

[eminimee]

PS...there is always the chance that the top is in too and those looking for one more high ain't going to get it....but doubtful in my mind at the moment. Taking out 1460 spx south may signal that if it happened.

[eminimee]

Might as well put this here in this thread too...

http://stockcharts.com/c-sc/sc?s=$NDX&p=D&yr=3&mn=6&dy=0&i=p27396823211&a=74522911&r=8086.png

[da_cheif]

Look at the charts. It appears that a test of the LT high ar 1552 is pretty much in the bag. I feel very confident on this projection, and if it doesnt work out I know I open myself up to look stupid.

It is all about timing however.

i went long a small amount last night. Stop at yesterdays lows.

If I get stopped out, I will look for another re entry point, but I feel pretty confident those old highs will attract like a magnet.

ON reaching those highs, expect a bigger pullback and then we power up to new highs SPX later in the summer.

Good trading.

LT/MT

ST

the ath high for the spooz is 1574....basis front month contract

[Tor]

Thanks for posting Tea. i think your view is waay too bearish, but as they say, we shall see. I doubt we will see the SPX that low, but guess anything can happen. my views are not fixed, but I just dont see the wave that low at this juncture.

[Tor]

Look at the charts. It appears that a test of the LT high ar 1552 is pretty much in the bag. I feel very confident on this projection, and if it doesnt work out I know I open myself up to look stupid.

It is all about timing however.

i went long a small amount last night. Stop at yesterdays lows.

If I get stopped out, I will look for another re entry point, but I feel pretty confident those old highs will attract like a magnet.

ON reaching those highs, expect a bigger pullback and then we power up to new highs SPX later in the summer.

Good trading.

LT/MT

ST

the ath high for the spooz is 1574....basis front month contract

I just focus in on the cash market. Futures will trade as they like when we get there.

[CLK]

Tor,

Nice entry yesterday. I bought the open.

I think eventually the US indices catch up to Europe,
might as well be now. Those channels from 2004
won't hold forever.

[CLK]

PS...there is always the chance that the top is in too and those looking for one more high ain't going to get it....but doubtful in my mind at the moment. Taking out 1460 spx south may signal that if it happened.

Tea,

Looks bullish now.