5 replies to this topic

[eminimee]

I still think there is another test of the 377 ema and/or new TL from the March 03 low in the cards....1495/1500 area "should" hold the upside. Nothing to do with market direction but my FF on this afternoons announcement will be either 25 basis point cut or no rate cut but another 50 basis point rate cut at the window. Either way...market ain't going to like anything after around 2:45 pm.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=8&mn=6&dy=0&i=p76377951514&a=78670243&r=6568.png

[JAP]

Your new avatar is disturbing.

[eminimee]

Your new avatar is disturbing.

...the face of FEAR.

[hiker]

Tea...is the idea that a move down is likely based on EW or some other basis? thanks. I have been following your earlier posts about up/down NYSE. Why is it likely the "good solid bottom" at the red line above is the likely retest? 1404 is the major horizontal Ted Burge shows that is nearby the 377day ema.

Edited by hiker, 18 September 2007 - 08:08 AM.

[eminimee]

Hey Hiker....EW on spx is cloudy and at this point and have two counts both ultimately bullish and both counts say the low is in....one count has us moving to new highs in short order and the other says we have to test the lows with a higher low. ....What is making me lean towards testing the lows first is the possible triangle on the Q's at this point. Trying to stay as neutral as possible. I'm flat at the moment.
http://stockcharts.c...&...0310&r=9243


Keep an eye on this too....
http://stockcharts.c...p...6258&r=5710

[mss]

TA wise, nothing has changed in a month.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p61289556629&a=116507500&r=4670.png