I don't use TA, therefore I have nothing to offer that falls within the framework that you use in order to determine market direction. That however doesn't mean that I'm unable to form an assessment using other methods such as price action. Let us keep it simple shall we... I say the market hasn't reached a top yet, relating to the trend that commenced in March and therefore state that price will trade higher than the September high before it trades lower than the March low. I will leave this thread for now so all of the TA gurus can continue providing moral support to each other with regards to what their tools and signals are advising them, and will return at an appropriate time which will be either a breach of the September high, or a breach of the March low.
I didn't enter this thread abusing people, I merely offered a viewpoint that is contrary to the OP and was subsequently placed on ignore for that reason. Ofcourse we shall see who is the loser, as soon as either the September high is breached or the March low is breached. Here is my post placed at ET on the 4/3/9 declaring that a change of trend was due to occur. Now, cast your mind back to the general sentiment at that time, the level of fear and anxiety that was projected from all directions of the media.... merely 2 days later we commenced a trend that we still reside within today... nothing more to say... speaks for itself. http://www.elitetrader.com/vb/showthread.php?s=&threadid=155946
I am so tired of the penis waving contests on et. I want to learn something not hear peoples BS, so yeah if all they have to offer is words without any commentary or analysis I don't need to waste time reading it either. That is why I asked what his input was because all he gave was it will test the high or march low. S&P high in september is 1080. I called that it would go to 1100 before correcting, so I was off by 20 points. My call right now is that it will probably go to 974 before breaking down lower or continuing in the up trend that it is in now. And that is going by price action. Despite the very negative news I have been hearing the last few weeks the trend is still in tact. Now if you want to go by the 50 and 200 dma its a bit different story. S&P daily shaved its 50dma today and hasn't broken it yet so you could say that is bullish especially considering the ultra bad job numbers. Monday should hold the key to the direction things will go for now.
Nice try at confusing everyone but I was talking about this, that you wrote on September 1: "As a trader for 53 years, this turning point tomorrow is the most significant I have seen in my life." http://www.elitetrader.com/vb/showthread.php?s=&postid=2560747#post2560747
Now for some cross analysis. Here is a chart of the UUP etf on the NYSE. I'm sure everyone here understands the relationship between the USD and markets so the chart speaks for itself. Difference here is that I used a different set of moving averages 8/20 Looks like money is going into the USD next week.