SnP 500 BREAKS 1400 THIS WEEK!

Discussion in 'Trading' started by BlueStreek, Jan 7, 2007.

  1. although I wouldn`t be surprised if we get a pop monday and tuesday of this week per the last 2 month`s pattern. Whatever the high for the week is, it will happen the first two days of the week, and from there, the slope will be downward.

    But ultimately, we will break 1400 on the snp 500 this week, which is significant, since we haven`t broken that level for awhile. The trend is down for both the dow and snp500 since november 27th for the dow, and the 1431 level in the snp 500. I also think we will close below the 1400 snp level this week.


    http://stockcharts.com/h-sc/ui?s=.spx
     
  2. Oh man, you again? Does this mean I have no choice but to buy ES? :(

    The joke aside what do you 'objectively' think of NDX/QQQQ/NQ? Looks to me like it wants to (unreasonably but that's my subjective view speaking) go much higher.
     
  3. Moderator, these Bluestreek (B.S.) threads should be closed asap.

    Re-use an old thread instead. these daily BS threads are starting to pollute ET more than the usual junk.
     
  4. romik

    romik

    I agree on 1400 break soon. I doubt whether it will reverse from there, though I personally do expect a correction, perhaps a minor one to weekly 20MA & perhaps weekly 50MA.
     
  5. 100% room to go UP UP UP.
     
  6. Its called S&P...
     
  7. there was a VERY strange divergence on friday. NQ, which has been among the weakest (ER2 takes the cake) among the index futures showed extreme divergence. the breadth was very very negative near eod, yet it moved up.

    i have never seen such a strong divergence between breadth and price, especially an inverse one where the breadth was so decidedly going down (to extreme lows on a basis of comparison to other days in last 6 months), and the price was so strong.

    it was very weird.
     
  8. The joke aside what do you 'objectively' think of NDX/QQQQ/NQ? Looks to me like it wants to (unreasonably but that's my subjective view speaking) go much higher.


    well when oil crashed a lot of people looked around and said "shoot lets jus ride goog back up to 515.00, bidu 128.00, etc" that was the thought by the oil money, but the problem is they got to go against the fact that the dow, snp are over-extended and starting to roll over here, and they lost a lot of those earler nasdaq gains, my take, they tried to ride the nasdaq up, but even though it had come back some, it still had one heck of a move up from late july to dec., and the pe ratios of the nasdaq stocks are quite high right now, relatively speaking, and the nasdaq isn`t going anywhere longer term, without the dow/snp--it pulled the dow off its lows for 1 day, and then reality set in the next day, all these indices are over-extended and ripe for a strong pull-back here, so that oil money will have to find another place, because it isn`t going into the nasdaq long term, as mot--made tht abundantly clear--too many tech/commodity companies fighting over the same scraps/pie in a slower growth environment---so nasdaq after that initial break up against the down-trend will be following suit and rolling over here with the down/snp500 as earnings come in-----after all, razor was big one year, a commodity the next, same thing for apple products, rimm will be next, flat panels will be commodities, computers, etc.---lowered magins to compete in a slower growth environment, means lower profits, lower stock prices for nasdaq stocks-----as people start to lose money, the liquidity tightens, less money to just throw around, safe-conservative capital preserving plays become the natural place the extra-new money will go---not tech.---the year was early, people were scrambling around looking for places to put money, they tried tech, got burned/will get further burned as earnings flow out showing these tech guys are over-valued here, and will try something else:)
     
  9. 100% room to go UP UP UP.


    Asian markets are sliding in the morning session Monday. Hong Kong and Singapore are leading the decliners.

    Hong Kong blue chips are down sharply in a broad sell-off, with banking shares especially hard hit after China raised the amount of funds which lenders must hold in reserve for the fourth time since mid-June. Singapore shares are down over one percent.

    Seoul shares are edging lower, extending a three-session losing streak, as mobile phone makers such as Samsung Electronics continue to fall after a profit warning from Motorola last week signaled a tough 2007 for the industry.

    Australia's ASX All Ordinaries is also lower, dragged down by metal stocks such as BHP
    Billiton as metal prices continue to drop. Metals such as copper have fallen sharply since the start of 2007 amid concerns about slowing global growth prospects and a rise in the supply of many key industrial commodities.

    Japanese markets are closed for a holiday.
     
  10. Hmm NDX holding the market up and the dow holding above the previous intermediate high of 12365. . .gotta love them dip buyers!

    I guess it's January effect here we come again?
     
    #10     Jan 8, 2007