A par-trend 20-day look ahead into $SPX
Started by
spielchekr
, Feb 09 2008 11:35 PM
4 replies to this topic
#1
Posted 09 February 2008 - 11:35 PM
My assessment is that the bulls can begin to form a bottom only if price progresses above the 23.6% trend level that it is currently at. To see if/when/how that begins to take shape, here's a live $SPX 20ma chart to follow along:
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=7&dy=0&i=p01779016303&a=130218860&r=2585.png
#2
Posted 10 February 2008 - 03:53 PM
Appropriately, price can currently be found just a shade below the 23.6% Fib retracement, same as the par-trend momentum.
#3
Posted 10 February 2008 - 05:25 PM
You do such nice work. Thanks for sharing.
mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#4
Posted 11 February 2008 - 06:39 PM
Thanks, MSS. I've updated the annotations on that live chart to point out the nearest window of opportunity for creating a positive MACD divergence. We need to close either Tuesday or Wednesday at or above the 76.4% retracement for a "respectable-looking" positive MACD divergence to occur. There, I've saved all of the market participants from having to spend money to see what happens with a test higher! Now it just needs to decide if it's ready for putting in a positive divergence or not.
#5
Posted 18 February 2008 - 08:56 PM
61.8% momo is a real bull teaser.