S&P500 made a double bottom today!!!

Discussion in 'Trading' started by Port1385, Jul 1, 2008.

Did we hit a double bottom today?

  1. Yes, going higher.

    22 vote(s)
  2. No, going lower.

    47 vote(s)
  3. Just ban Landis, Rennick and/or Stocktrad7r and that will solve all our troubles

    13 vote(s)
  1. Double bottom on the chart with increasing above average volume. Hammer at the end. Im aiming my bat for the cheap seats. By year end, 1550 or higher. When Christmas hits, if you were not buying today then say sorry to little Jane. She is not getting presents this year.

  2. Was one of your children born Jan 3 1985?

    Yes it was a potential DB but tomorrow will be the clincher. Still have price moving laterally on the daily, if tomorrow closes higher than todays high, I'll agree we may have the bottom.
  3. Wishful thinking...
  4. News reports say we are heading lower.

    Economy is not showing signs of turning around.
  5. Just ban Port1385

  6. Lets look at the last time this happened.

    In the coming days there will be a sudden spike up.

  7. That's right.
    The stock market NEVER discounts the future and turns BEFORE the Economy does.
    The market waits for the Economy to turn first. Guess you weren't around for August of '82.


  8. balda


    I think it will go higher until 4th of July. If S&P will get up by 50 points that would be nice and on Monday, July 7 market should start going lower.
  9. sorry for the double post mods, but i didnt think the first one went through.
  10. I'll admit, I didnt sell the top of all this and I didnt buy the bottom...but Im sure going to be buying all the way up until it hits 1600 when most ETers will be just buying and waiting. Usually ETers turn bullish when the indexes are topping and then go bearish right when there is a bottom. I think everyone just watches Cramer.
    #10     Jul 1, 2008