Discussion in 'Index Futures' started by coolweb, Aug 13, 2010.
1 point from the high,
Whats going to happen next?
it will go up, down, or sideways, or perhaps a combo of these...
I'm going to point out that according to the timestamp of your post you said this when the S&P had fallen over 50 points from that high at 1127.
I'm talking about the next few months , whats going to happen.
you are going to get that much closer to the end
if you're lucky
We had two failed attempts to break above the 100DMA. Now it looks like the 100DMA may cross below the 200DMA this coming week. I took a quick look on my charts and 3 of the last 5 times that happened in the last 10 years things got really bad.
I don't see anything in the volume or OI that says we shift from it's current trajectory. With the dollar and gold strengthening - it looks like risk aversion is now the driving force and this is not good for stocks.
It looks like we may test 1003. But who knows. Good luck.
Here's some more insight...
I called todays selloff at 2pm. on another public venue
I no longer make calls here
What was that sudden ES sell-off right after market close today?
Separate names with a comma.