$signal.com daily comments. No f@cktals.
Started by
youmast
, Aug 14 2007 04:00 PM
1 reply to this topic
#1
youmast
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Posted 14 August 2007 - 04:00 PM
Of course I'm wrong, and we gonna crash....
#2
Trend-Signals
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Posted 14 August 2007 - 04:49 PM
The current supports are pivotal to LT trend and we just closed below it.
Markets were building short positions going into 7/19 top.
With CPI number tomorrow, trading below the todays' support, SPX is targeting SPX 1360.
Markets were building short positions going into 7/19 top.
With CPI number tomorrow, trading below the todays' support, SPX is targeting SPX 1360.
Since 7/19 top, only small speculators are slaughtered. As we can see on the COT chart, large and commercials are short while small speculators are long. Remember commercials net positions are hedges.
We have CPI number tomorrow and bearish market sentiment is not changing.
Breaking the current support and trading below it tomorrow will be targeting SPX 1360.
The irony is that market looks to be using what was working in the past as a contrarian indicator; so, be careful.
