29 replies to this topic

[eminimee]

Just can't buy into a swing bottom yet...not with the 8 over 34 cross still on the daily. ...and that's one cross I do pay attention to

[ogm]

Well, so far we're huffing and puffing all day with the DOW up less then it lost yesterday, Nas just about flat and mediocre A/D. But more importantly, is not only the price is pressured on 60 min by moving averages, but it has broken below averages on daily. So they will be pressuring now too. This market has a lot of work to do to prove that is going up, and not down. The trend is in and the momentum pressure is on. It has to REVERSE the trend to prove otherwise. Lets see if it can do it.

[eminimee]

a better pic if it is what I think it might be...or I'm dreamin'

OGM...it's bearish if it is an ED.

Want to see three waves up from that last low...a bit of throwover but not neccessary...any new high could do it... then collapse.

http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=2&i=p62764683085&a=93322579&r=7691.png

Edited by Teaparty, 06 November 2007 - 03:09 PM.

[skunk]

a better pic if it is what I think it might be...or I'm dreamin'

OGM...it's bearish if it is an ED.

Want to see three waves up from that last low...a bit of throwover but not neccessary...any new high could do it... then collapse.

Seems too obvious doesn't it? I wonder if "they" will pull it off today. Running out of time to act on it.

[dowdeva]

Houston, we have lift-off.

[espresso]

This market has a lot of work to do to prove that is going up, and not down.

A this junction this market don't have to prove...
because it will be The Last Rally,
a total price manipulation,
a big fat fake Christmas present!!!
Anyway tomorrow maybe the shorts have one more chance to cover...
jmho

Edited by Espresso, 06 November 2007 - 03:33 PM.

[Trend-Signals]

Saw it was coming Date:11/6/2007 12:49:56 PM Post #of 4145 Intraday 60m didn't turn positive as of yesterday's close; however, it is about to turn positive. For Qs, it is still remaining symmetrical triangle formation after initial break above before the morning sell off.

[NAV]

The most impressive today - the RUT baby !. Look at the sexy rounded bottom on 60-min RUT. And the impulsive move off of it. Nice !

[hiker]

just idle thoughts I expressed elsewhere today premkt, FWIW..sounds like you are really cooking NAV...NAV, you think a weekly close above cash 1525 is probable? SPY 60min shown below for reference, and the SPX monthly is in my blog today.

Uninformed so far have been those not seeing that each dip has been bought. SPX 1476 needs to fail on a closing basis (most likely a weekly close will be reqd), or this market remains in bull mode. just my 2c.

major horizontals for SPX are easily found and I have posted them before.

the informed have been and will continue to buy dips, not short highs...this is a FACT until proven otherwise. Price action over time will prove what happens. nothing you do not know

Edited by hiker, 06 November 2007 - 07:00 PM.

[NAV]

Hiker, I am in the same camp as you that unless SPX 1480 is broken, buying dips will make more money than shorting bounces. My VST target is about SPX 1531. A daily close above that and will we should test the Fed day highs. If we fail near the Fed highs, we could be in a trading range for a month or so.