Market is stretched and exhausted who agrees?

Discussion in 'Trading' started by hajimow, Sep 30, 2009.

  1. I feel a lack of direction in the market that will eventually results in a sell off. It does not go up and the same time some buyers find it a buying opportunity when it dips. I believe market will be range bounded for a short while.
     
  2. There's a new market is overbought/stretched/exhausted/can't possibly go up any more thread every day. I'll believe it when I see it.
     
  3. GTS

    GTS

    +1
     
  4. With free, unlimited money, the market can go on forever. Well, almost forever. It hasn't even been close to "forever" yet.
     
  5. they need the spx to close over 1067.09, the 20 month moving average

    that has defined trend for years, since at least 1996
     
  6. look at the green line on this chart

    if PPT is working today, that would be their goal

    they've got 7 spx points, and an hour and 34 minutes to go

    closing above it would buy them time, as the 20 month is probably still getting recalculated about 20 points down at the end of day
     
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  7. lexcorp

    lexcorp

    BINGO!!!!!!!!!
     
  8. tell me that little 'jam job' on the shorts just before noon wasnt an attempt to close above it
     
  9. With this mentality, probably you were one of the individuals who bought your house when the it was surging and said housing prices won't go down and I will believe when I see it :D
     
  10. I'm sorry, but have you been paying attention these last few months?
     
    #10     Sep 30, 2009