After coming down to hit the 200 day avg. our next move will be back up to hit the 50 day avg.
Minimum target is the 50 day and more than likely a bit above it.
Market direction is very simple from here........
Started by
cgnx
, Aug 22 2007 05:54 AM
2 replies to this topic
#1
cgnx
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- Traders-Talk User
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Member
Posted 22 August 2007 - 05:54 AM
If it can be cornered, it will.
#2
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 22 August 2007 - 07:23 AM
Has to get above the 200 and several other resistance points first....then the 50 is next. Have to admit...I have no opinion of the bottom being in....a higher low...or we just bust out now. The 34ema crossing the 102 just might be an omen for a lower low....if not...it has to start turning up very soon. Scalping.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=6&dy=13&i=t94206165111&a=79053340&r=1058.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=6&dy=13&i=t94206165111&a=79053340&r=1058.png
#3
maineman
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- Traders-Talk User
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maineman
Posted 22 August 2007 - 07:53 AM
THe Fly in the Ointment:
Yesterday as the marekt mushed around going nowehere, there was an enomrous SURGE in DOW index put buying, which actually accelerated late in the day.
Not quite sure what this will do to the market today or tomorrow, but it cannot be ignored....
mm
