The SPX is technically down on Monday. W 3/10/10 1145.61 +5.16 +0.45 T 3/ 9/10 1140.45 +1.95 +0.17 M 3/ 8/10 1138.50 -.20 -0.02 F 3/ 5/10 1138.70 +15.73 +1.40 T 3/ 4/10 1122.97 +4.18 +0.37 W 3/ 3/10 1118.79 +.48 +0.04 T 3/ 2/10 1118.31 +2.60 +0.23 M 3/ 1/10 1115.71 +11.22 +1.02
Yes, 1200, but not directly there -- we have to bust through 1050 first! --then some up and down and sideways on the way, of course. ETA, April 20th plus or minus 15 days. Then its a nice sell off. until sometime before the Fall election whence the market, of course, will have to be goosed again to keep the party in control in control. We don't want to have to get used to a new Treasury secretary all over again. And the Prospect of Phil Gramm as Treasury Secretary is enough to goose the market to the Stratosphere! What goes up, always comes down! Issac "The Magnificent" Newton, out. http://apod.nasa.gov/apod/image/IsaacNewton.gif
Yes. My personal objective is to acquire more shares without sinking any new money. Sell, then repurchase at a lower price.
E-mini S&P 500 (Dollar) Mar 10 1140.75 -5.00 who knows if this one will stick. we have not had a decent sell-off in a while. with the relentless buying it is easy to get the idea that the market will just keep going higher. yet, as happened many times before the drops could be very fast and furious. ~113 gap on SPY looks like an easy target to fill once/if there is a red day or two.
P/C ratios, cumulative breadth charts. range, and consecutive up/down days all point toward weakness. Russell moving well, XLU sluggish. A gap to fill at 1127. 7 days from now we'll be down to fill it. Just a guess after optios expiration plays out. Good Luck
Dear traders, Why so much discussion of whats going to happen tomorrow, next week or whatever. Its so simple. If you are typically a counter trend trader, Then I think we are right around a semi good setup here. Do you agree, or I am hallucinating ? Can this hit your stop?, YES of course. Should you avoid taking it if you see a sign of weakness ? IMHO you should not. Come on , whats the purpose of trading? You see a setup , evaluate it, and take it.. some works some don't. I much prefer to take it and lose rather than not taking it and watch the damn thing fall later.... Thats all...