Does the SPX daily chart looks bullish or bearish?
Started by
ken29
, Oct 16 2007 12:40 PM
4 replies to this topic
#1
ken29
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Posted 16 October 2007 - 12:40 PM
Question for the chartist:
Was the August bottom the beginning of the year end rally or is this impressive rally off the August bottom nothing more than a double top?
#2
A-ha
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Posted 16 October 2007 - 12:58 PM
We are in a wide trading range... this is the perspective I keep since spring 2007
1350-1580
the market just topped out last week
#3
fib_1618
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Posted 16 October 2007 - 01:01 PM
Take any momentum tool and directly compare the current daily price levels with that of the previous price top. If a higher level of momentum is seen than that of the prior, the answer is no. If, on the other hand, if you see a lower momentum peak, the answer would be maybe. The tie breaker lies with the breadth of the advance.Was the August bottom the beginning of the year end rally or is this impressive rally off the August bottom nothing more than a double top?
And your answer is.....?
Fib
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#4
MacRo
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Posted 16 October 2007 - 01:26 PM
I'm looking for 10 spx points on the upside between now and thursday. I have a VST countertrend buy signal on SPX and NDX.
IT I am more bearish.
#5
Sentient Being
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Posted 16 October 2007 - 05:58 PM
I'm still not seeing that signal I'm looking for that tells me the market charachter is changing from uptrend to something else.
I'm flat but I've got some industries i'm looking for buys in, ones that have managed to sell off a bit.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
