19 replies to this topic

[A-ha]

this should breakdown... one way or another...

waiting for 1475 to ring the register or i'll waste my flux capacitor




here is the leadership (on the downside)

[eminimee]

1575



1475 1475 1475 1475 1475 1475 1475 1475

[arbman]

If the gap doesn't close today, I think there will be a powerful close.

[A-ha]

sorry... not without banks and not with small specs on the bus if the last weeks cot is any guide ...

Edited by A-ha, 26 September 2007 - 10:04 AM.

[eminimee]

fwiw ...I have a target still of 1540.84 SPX and/or 717.94 OEX...watching both as I'm thinking one will not confirm the other with a new high for this move. Moving my stop on NQ to 2121.50... but long es at 34 until I get a tip off. PS: shorted nq at 2112 earlier this morning

Edited by Teaparty, 26 September 2007 - 10:08 AM.

[A-ha]

i think there is a gap at 106

[arbman]

sorry... not without banks and not with small specs on the bus if the last weeks cot is any guide ...

Banks are leading today, perhaps only for today, it doesn't matter they are at a ST cycle low. For the small specs, I agree that a ST top is near and a mid-Oct shake out will get them all beared up at the 5 wk low, I think the EOQ mark up will test the higher prices for the next 5-6 sessions...

I just think the trend is your friend for a little longer before another pull back, there is nothing wrong with many pounding at the beginning of a trend. There were a lot of put buying for the past 2 days, enough fuel probably. If OEX takes the short term trendline as we speak, I think it is going higher, SPX already did...

Edited by kisacik, 26 September 2007 - 10:18 AM.

[A-ha]

sorry... not without banks and not with small specs on the bus if the last weeks cot is any guide ...

Banks are leading today, perhaps only for today, it doesn't matter they are at a ST cycle low. For the small specs, I agree that a ST is near and a mid-Oct shake out will get them all beared up at the 5 wk low, I think the EOQ mark up will test the higher prices for the next 5-6 sessions...

no ....

banks are not leading anywhere today, that is why SPX got a little breath because banks gave back entire gains of the wonder rally and now bouncing due to oversold ...

i can assure you they will be the first to crack before bottom truly falls out...banks are , as i type this, where they were before the fed ...


if you looking for an upside leadership, utilities are the most potential ones.. they have been showing some strength lately... due to 2 reasons

1- util is one of the most rate sensitive sector

2- util is one of the most recession proof sector

Edited by A-ha, 26 September 2007 - 10:25 AM.

[IndexTrader]

Hard to believe the ES is not going to test the recent highs....at a minimum. IT

[A-ha]

Hard to believe the ES is not going to test the recent highs....at a minimum.

IT

If it would be possible without banks, I may agree given the other factors like USD