Everybody looking for a RETEST

Discussion in 'Trading' started by Kendall, Oct 14, 2008.

  1. Kendall

    Kendall

    you know how that works...It won't happen, just like the bottom never happened until all the forced selling finally created a washout...
     
  2. A retest by definition doesn't mean we have to come back to recent intraday lows point by point. A simple retracement that would at some point successfully bring in new buyers without blasting through the lows of the month would qualify IMO.
     

  3. no. this time it's different. sure, we've risen the equivalent of 2000 Dow points in over the last two sessions (factoring in the current globex session) but this time it's gonna keep on going.

    retracements are for people who just don't get it.
     
  4. i was kind of expecting a retest of S & P 200 month avg at 993 - hard to see a bear being over without a backtest of that IMO

    but it might do it from much higher, sucking in more longs and busting out all shorts first
     
  5. You convinced me. We're going to ES 1600 without a single downtick.
     
  6. this thing has been ripping around in much larger strides, about 200 es down, then up with almost no retracements

    400 points is years of moves, in 3 days
     
  7. 1987 saw a retest in December. 8 weeks later. Didn't go down to the exact low, just a couple % retracement that brought in new buyers.