Discussion in 'Trading' started by NoProblem, Jul 16, 2008.
Just a chart of the S&P500 cash index...
Just looking for thoughts!
10 day MA is gonna come in real close here, and it has kept the downtrend "intact" ever since mid June, and back to mid-May if you fudge a bit.
Also interesting to note, that 1205 SPX was a fibonacci 78.6% ratio of the initial 300 point leg down from 1557 to 1257
ie.) 300 x .786 = 236
1441 ( May highs ) - 236 = 1205
Thus, subtracting 236 points from the May counter-trend rally high at 1441 gives you the object of 1205, which was hit yesterday +/- 4.5 pts.
Also interesting to note, the sentiment numbers that came out today are at bear market extremes not seen since Oct. 2002.
Investors Intelligence Bulls: 27.8%
Investors Intelligence Bears: 48.9
Getting bullish for a size-able Bear market rally!
More blah blah blah analysis. Just go long and quit overthinking.
Just curious.......how long have you had this bias?
I'm with AIG, so I'm just thinking about butterflies.
Why dont you check my recent post history and figure it out Sherlock.
Looks like a one day rally, sell signal.
Full throttle short.
The top line is already broken. If you are short and it goes your way, you need to get out around 1235 - 1245 area.
I am short also and hope they are not planing to check the 1300 this week,
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