13 replies to this topic

[ogm]

I think the game has changed, in the sense that indexes aren't a good play here at all. For the time being this is the market of individual stocks. I have no idea what the indexes will do. For what I know they may be floundering around for quite a while, like Teaparty said. I said that same thing when this crisis has started. They may not rally strongly, But they aren't going into freefall either. But individual stocks.. thats another matter. Basicaly this is stock picking market now. Not just buy or sell everything.

[blustar]

1496-1500 in cash index and then down, down, down........

We're in agreement 1496-1501 for me on the upside today then down to the 1445 area SPX by Thursday.

[dasein]

thanks, kisa. i agree with everything, but i was expecting a lower low than you - maybe your excellent analysis will keep me out of some trouble<G> klh

[pedro]

FWIW - I use a peculiar 14 day Stochastic metric that perfectly marked turning point setups mid month for the MM indices in July and Aug (hi,lo). It is now perfectly set up again as a hi. To me, that spells move toward retest. [Most times, this metric wanders between the extremes and tells me only which way the risk runs.] I also began to get (position-trading) sell signals yesterday in the MDY and Qs. Not ruling out a spike up first today just from removal of the uncertainty. I suspect we'll end the day on the hourly MACD buy vs backkiss point to keep everyone guessing/hoping, and we'll see a gap down tomorrow. Good luck all. pdl