11 replies to this topic

[A-ha]

the low most of you looking for may come from a level that may force your imagination...

[Russ]

That's a useful post.

[atlasshrugged]

the low most of you looking for may come from a level that may force your imagination...

give me some numbers!!!

[Rogerdodger]

give me some numbers!!!

DUH! 76 point selloff.

[A-ha]

that is actually the most useful analysis this board needs at the moment...

of course for those who gets provoked to review their expectations...

but i am sorry i can not give you a certain number or time for the low.
did you listen to me when SPX was at 1555 NYSE at 10200?



http://xtrends.blogs...200-levels.html



however I can gurantee that the market will crater deep enough to make the recent broken levels put a steel cap on any snapback rally which will likely be as vicious as the way "Jacob Little" shorted into the downtick on monday

so here comes idea ... since the rally will be vicious and since the market just broke below the important supports on friday, we have some excitement coming at us next week (on the downside) , intense enough to make the vicious rally stop at fridays broken pivots

That's a useful post.

Edited by xD&Cox, 04 August 2007 - 04:12 PM.

[Russ]

With internals diverging and dow not making new lows...I will be very surprised if the march lows are taken out. The fly in the oinment is the Russell 2000 breaking multi year support.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&b=5&g=0&i=p24668733723&r=1176.png

Edited by Russ, 04 August 2007 - 04:23 PM.

[atlasshrugged]

the low most of you looking for may come from a level that may force your imagination...

give me some numbers!!!

give me some numbers!!!

DUH! 76 point selloff.

double lol...i didnt catch that!

[Wombat]

I'm obviously not the technical analyst that most of you are, but I think technical analysis isn't as important at the moment as sentiment; OPTIMISM that the Fed will say something favorable to the market and/or that the subprime mess is overblown and FEAR that it won't and it isn't. I think TA will be important again after the FOMC meeting on Tuesday. Till then, I think everything is a crapshoot and I'm sitting it out. After that, I'll be reading every technical analysis post I can find!

[atlasshrugged]

I'm obviously not the technical analyst that most of you are, but I think technical analysis isn't as important at the moment as sentiment; OPTIMISM that the Fed will say something favorable to the market and/or that the subprime mess is overblown and FEAR that it won't and it isn't. I think TA will be important again after the FOMC meeting on Tuesday. Till then, I think everything is a crapshoot and I'm sitting it out.

After that, I'll be reading every technical analysis post I can find!

being in real estate I dont think it is overblown...here in Vegas and down in Phoenix the speculation blew the dot come bubble away....cocktail waiters and bartenders own ten houses with no money in them and they are sitting vacant ...its HUGE!

btw there is nothing the fed can do to help these home owners they cant refy cuz they wont qualify!!!

Edited by iron cross, 04 August 2007 - 06:25 PM.

[Wombat]

Thanks for your knowledge. I don't think it's overblown, either, and I keep reading everything I can get my hands on about the potential size of the contagion. I do hope the Fed only jawbones and doesn't ease or that will blow a hole in the dollar. It's fun to watch safely from the sidelines.