psychological warfare

Discussion in 'Technical Analysis' started by gharghur2, Oct 13, 2005.

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  1. The stock market is all about investor psychology, right?
    Well the battle lines have been drawn!

    The previous 4th wave intraday low for the S&P was 1284.
    The previous 4th wave intraday low for the COMPX 2040.

    We sold off below these levels in the past few days. And now they are acting like short term resistance. These are key EW pivot points to turn this market around.
     
  2. the compx is forging ahead (over 2040)
    but the S&P is lagging still (under1284)
    almost there!
     
  3. Looks like a gap up opening
    Especially helpful to the S&P's to get over 1280 and 1284
    And sentiment has turned 'bottom' bearish: see chart!
     
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