Market about to tank
#1
Posted 23 August 2007 - 11:40 AM
#2
Posted 23 August 2007 - 12:52 PM
#3
Posted 23 August 2007 - 01:56 PM
i got a projection for around 41, but mid sept, twt.qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.
#4
Posted 23 August 2007 - 01:59 PM
Absolutely it will not tank because it got the Fed behind it (if you heard what Senator Dodd and Ben said after their meeting, they will do everything to support the financial market). The whole thing today is just technical. Near term in a few days, market will go higher. Look at the chart which clearly shows consolidation at the high:qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.
http://stockcharts.com/c-sc/sc?s=$SPX...2444&r=3836
Edited by redfoliage2, 23 August 2007 - 02:05 PM.
#5
Posted 23 August 2007 - 02:25 PM
HaHa, SPY and DIA became green now. What a day. If da boys gap it up to clear the resistance tomorrow .....Absolutely it will not tank because it got the Fed behind it (if you heard what Senator Dodd and Ben said after their meeting, they will do everything to support the financial market). The whole thing today is just technical. Near term in a few days, market will go higher. Look at the chart which clearly shows consolidation at the high:qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.
http://stockcharts.com/c-sc/sc?s=$SPX...2444&r=3836
Edited by redfoliage2, 23 August 2007 - 02:30 PM.
#6
Posted 23 August 2007 - 03:01 PM
#7
Posted 23 August 2007 - 03:04 PM
shakeout!I think we go down one more day tomorrow. After that I am not sure. It's tricky as hel* this market is. It's bumping against obvious resistance like major fib retraces /sentiment, etc but still it holds. Yesterday, for example, wtf, but it was merely a shakeout.
I think that's the timely expression.
#8
Posted 23 August 2007 - 05:49 PM