5 month Up Trendline Broken on S&P and Dow

Discussion in 'Trading' started by aeliodon, Nov 27, 2006.

  1. I hope they chop this market up soon so we get an orderly down move with plenty of opportunities to sell rallies and buy dips.
  2. Relax! one day does not a make a trend. It would be only normal to slip under DOW 12,000. I don't believe this pullback will offer much in shorting possibilities because it's not centered around an earnings season you won't get the news catalyst for individual blowups that start to add up and then turn a whole sector down. There has been too much participation by too many sectors for this to be a real leg down. Rather this is the first push lower of what will become several pushes and recoveries and with a cautious eye on Iraq which appears very close to imploding-- I would hold off the
    " we've broken an uptrend " analysis until we actually come close to doing so.
  3. yeah - i dont see any trendline broken myself.....ill wait for a toppping pattern before i get too excited... only sector rolling over is pharmaceuticals and health care.rest of market is still intact. transports, semis (which tend to lead the market) still look good... just my 2 cents..
  4. S2007S


    not many here were prepared for a 120 + point drop on this dow. Nasdaq off 40 points is not unusual after such a big gain over the last 3 months.
  5. S2007S


    watch 1765 on the ndx 100, 1790 was taken out
  6. vix up 14%
  7. S2007S are you kidding me? Did you not read the 17 some odd pages under how to spot a top? Besides myself there were several others pointing to the fact that last years Xmas rally game before thanksgiving just like this year! Not only that I posted a HUGE piece over a week ago predicting this decline to within 4 days.

    Lets just take a step back and realize- damn that stonedinvestor is good!
  8. One thing is for sure. You DON'T KNOW HOW TO DRAW A TRENDLINE!!!!

  9. Joy, finally the sell of is here.

    How long will it last?????? Hmmmm........until the vix will go down 10 % in a day.....lol:p

    On contrary VIX only moves with the market
  10. S2007S


    I would say give it about 4-6 weeks before we can actually say a top was formed.

    This market needed a selloff like this, its been too long and many here know it.
    #10     Nov 27, 2006