SP 500 line in the sand

Discussion in 'Technical Analysis' started by Lorenzo, Mar 3, 2007.

  1. Lorenzo


    I expect the SPX will test the 80 week EMA in these coming weeks and for me is a line in the sand

    If we close below 1320/1315, you can say goodbye to the bull market

    As you can see, in the past, the 80 week EMA has been a very good indicator

    Anyway, I think that the first test should produce a strong bounce ( pullback to 1400 )

    Soooo... I will be a buyer close to that magnet (not before), if the correction will continue ...but with a tight stop


  2. nice chart ... how did you come up with that 80 week EMA ?
  3. One can also interpret this chart to show the S&P at 1,500-1,800 range within a month or two as well

    15%-20% dump this time fellas with the Nikkei at 15,000-15,500

    Lets be realistic you all should have bought puts on the S&P QQQQ's etc (not too late!)
  4. =============
    Nice chart;
    what 's the moving average above that one also showing good S/R;
    looks like 40-50 or 52 week moving average.

    your chart shows why i like ma,
    10 month moving average has excellant S/R also.:cool: