short term bottem on 8/1

Discussion in 'Technical Analysis' started by chewbacca, Aug 1, 2007.

  1. major capitulation in homebuilders and banks today - if the rumors are true we crash from here - otherwise sideways action and rallies.
  2. So we crash or get sideways action and perhaps a rally. Hmmm, you make a compelling argument!
  3. not to mention major bullish FTT on s&p futures today at 1449 september contract.
  4. okay to clarify - if we break lows then we crash to 1400 - which is 10% correction


    we move sideways and build a base for a rally to the 50 ma or some techical other technical indicator.

    i'm not saying this is THE BOTTEM though it just feels like a short term bottem.
  5. I swear to God, I wish I had free reign to moderate on this forum.
  6. no i think you wish you could restrain your self from visiting this comedy site.
    everything is comedy in trading: ET, CNBC, etc. - enjoy it.