It looks to me that the markets are trying to roll over to the down side in earnest. We have a nice H&S top projecting to the 1380-85 SPX zone for Thursday/Friday this week.
Bottom line for me: sell all rallies and get ready for a nasty surprise to the 5 week cycle low due late this week.
I still think we see new highs by Oct 18, so this should be a great buying opp.
Today, the gap down may be again bought by the gap buyers. Support 4Q 48.96/97 and upper resistance 49.40 area.
Markets Trying to Roll Over
Started by
blustar
, Sep 17 2007 07:41 AM
5 replies to this topic
#1
blustar
-
- Traders-Talk User
- 6,214 posts
blustar
#3
blustar
-
- Traders-Talk User
- 6,214 posts
blustar
Posted 17 September 2007 - 08:26 AM
One caveat to the expected Sept 20 bottom would be if we form a bearish flag formation into Sept 27, then the 7 week cycle due October 5th would look to lower prices after that date.
OPEX should see a close near 1410 SPX, not 1475. 
#4
beardown
-
- Traders-Talk User
- 203 posts
Member
Posted 17 September 2007 - 08:33 AM
this will be fun lets see who is closer spx 1410 vs. 1475 let the tug of war start
#5
eminimee
-
- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 17 September 2007 - 09:05 AM
If the q's need a C down of a triangle....1420spx area is doable by friday...
I'm open to it.
http://stockcharts.c...0310&r=3528.png
I'm open to it.
http://stockcharts.c...0310&r=3528.png
#6
youmast
-
- TT Patron+
- 2,870 posts
Member
Posted 17 September 2007 - 09:56 AM
this will be fun lets see who is closer spx 1410 vs. 1475 let the tug of war start
I already won a dozen of times... Every 1475 post was right at this strike.
