4 replies to this topic

[ogm]

[eminimee]

through 1460 ES and we have some type of bottom in...and we are in a wave 3 of "something" up...turn down from there it's an abc and we might get another low that "should" be a buy.....fwiw imvho blah blah but can't break that top of channel on the weekly posted earlier.

[hiker]

Teaparty, a buy near today's low of 1429.74 SPX has less than 10 points downside risk based on the channel line you have drawn on the weekly...looks like a manageable trade risk, that many took it appears...

[peregrine]

One of the interesting tells in last night's internals, implying that today would not be a downside blowout were the net pluralities of the daily ADs. NY net was -1921, while the NAZ net was a relatively paltry -911....an unusual 2/1 disparity. Also, as others have mentioned, the RUT which had been the downside leader, began resisting the decline. I'll be watching for continued relative strength in the RUT...with the an eye toward that RS spreading to the COMPQ before all is said and done on the downside.

[hiker]

1453.09 SPX yest. close is now being tested by the pullback from R1....price remains above the 200day ema.

Edited by hiker, 10 August 2007 - 11:40 AM.