2 replies to this topic

[LarryT]

Today dropped 10 points more than I expected and that has me a little worried the run up to W-2 target at 1500 area yesterday was all of wave 2 instead of just wave "a". If it was the market is heading for 1300 next instead of 1530 and I missed the short I have been slavating over for weeks, the wave 2 bounce....aaaggghhhhh overnight tonights trading and Friday our market wil tell the truth. Be Careful, Larry

[hiker]

interesting that the 34day ema which is nearby the midline of the daily BB seemed to mark the top OR close yesterday of SPX, and just above these levels was the .618 retrace of the 1555 to 1427 decline (1506.81)...also, corresponds to the July breakdown price level

Edited by hiker, 09 August 2007 - 04:03 PM.

[hiker]

today The broader market posted its worst one-day decline (-3.1%) since March 2003. All 10 economic sectors closed sharply lower, plunging 2.9% on average. Of the 147 S&P industry groups, only 10 posted gains.