S&P Action

Discussion in 'Trading' started by dtrader98, Oct 23, 2007.

  1. Ah, the old bait em then grate em.

    Wonder what's in store for the lovely SPYs tomorrow, closing at the very top of the downward channel. All on the unconstrained amzn/rimm euphoria this afternoon.

    I had a keen eye on this all morning.


    Pretty swift run up after such rampant fear two (trading) days ago. Not too sure tech saved the day for spy yet. More downside on spy and XLFs left IMO.

    That being said, if you are short, always be prepared to concede if the support lines are taken out (protective stops first, think second).
  2. S2007S


    FINANCIALS lagging....

    tech seems to be the only thing helping out these markets.
  3. Retracing the rate cut. Next target : 148.9
    Downtrend intact for now.

  4. target acquired. Remember those stops on resistance/support. FED cut rumor spreading like wildfire on various boards, whoever started it wants it known IMO.

    Now is a good time to change thesis (if you haven't already). Whatever is driving the return is significantly strong to break the short term downtrend resistance line. Wouldn't be surprised to see a gap up through it am at this pt.

    Love that volatility; be nimble around it.
  5. its not just tech moving markets higher

    it is also

    materials & commodities, defense, energy, construction, shipping,