5 replies to this topic

[NAV]

that we bottomed today on the SPX. I should get confirmation tommorow morning. With that late day red candles on 30-min, they could be sucking in shorts big time. The best bear traps are laid out that way, i.e showing weakness on lower timeframes, while gaining strength on higher timeframes. NDX is looking very strong and is breaking out. My projection for SPX in the VST was SPX 1500-1505. We tagged 1507 today morning. Good enough for government work.

Edited by NAV, 25 September 2007 - 03:00 PM.

[denleo]

I thought bears could do more. What was I thinking? I hope you are right. And thank you for posting your analysis. I love it. Denleo

[NAV]

From a classic TA standpoint, NDX action today was very bullish. We broke out yesterday on the NDX. But we could not get a follow thru, as SPX had some downside unfinished business. Today NDX retested the breakout area, while the SPX finished it's business, and skyrocketed higher with a outside reversal bar on the daily charts. That's bullish IMO. It also says that SPX has also possibly bottomed today. We'll see...

[Tor]

From a classic TA standpoint, NDX action today was very bullish. We broke out yesterday on the NDX. But we could not get a follow thru, as SPX had some downside unfinished business. Today NDX retested the breakout area, while the SPX finished it's business, and skyrocketed higher with a outside reversal bar on the daily charts. That's bullish IMO. It also says that SPX has also possibly bottomed today. We'll see...

Tricky here I would say, but I am long. Small trading right now for me with bigger forces as I see it.

[NAV]

From a classic TA standpoint, NDX action today was very bullish. We broke out yesterday on the NDX. But we could not get a follow thru, as SPX had some downside unfinished business. Today NDX retested the breakout area, while the SPX finished it's business, and skyrocketed higher with a outside reversal bar on the daily charts. That's bullish IMO. It also says that SPX has also possibly bottomed today. We'll see...

Tricky here I would say, but I am long. Small trading right now for me with bigger forces as I see it.

It always tricky. Otherwise, it's easy money for everyone

Good luck with your trade.

[Tor]

I have a stop and reverse point at 1505 cash market. If it goes to that level quickly then I will go short full size, subject to usual first hour issues etc.