3 replies to this topic

[NAV]

If we take out today morning's highs, my swing system will go to a buy, which is typically good for 25-40 SPX points. Until that happens, one more retest of yesterday's low is not out of question. Trade well. P.S - Still holding onto the rest 50% of my longs from yesterday.

Edited by NAV, 06 November 2007 - 11:19 AM.

[eminimee]

Sorry..couldn't help myself...could see upwards of 1522 to 1530..more if the swing low is in and that b at the bottom is a 5 instead. HAVE to take out todays highs though and that may be difficult...as long as ES stays above 1506..it's got a chance....below there and bearish and I doubt if yesterdays lows hold if tested again.

http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=8&i=p91878492396&a=119816771&r=5582.png

[NAV]

Tea, If the swing lows are in (which should be confirmed by EOD), then we should at least go and test or exceed the Fed day highs. With today morning's gap-fill, they are keeping the bears' hope alive. Very interesting juncture.

[eminimee]

If spx breaks up through 1511...possible target of 1533 with an inverted H&S bottom....just hope we aren't doing the CSCO two step.

Edited by Teaparty, 06 November 2007 - 12:26 PM.