Discussion in 'Technical Analysis' started by Sheik, Oct 6, 2011.
SP 500 ---> Same pattern 2008 - 2011 ?
Very similar,look at how the price is compressed this time.I think it would be something like this.
If it is obvious and everyone sees the pattern happening and setting up. Most likely the opposite will happen.
The wonderful wacky world of trading,
Plenty of patterns/same patterns SPY 2008-2011;
except PigS are more plenteous.C, BAC/big bank sector are much more bearish.
Sell SPY volume/2011,sell DIA volume/2011 is less, than 2008;
but BAC sell volume/2011 is much more, so SPY may not crash as much, as BAC/big banks ,perhaps?
Frankly, with tek sector[MSFT,QQQ sector ] usually being bullish this quarter;
even if big bank sector crashes [not a prediction].I am bullish on tek sector this quarter. QQQ 50 week sma,QQQ50 week ema looks better[bullish] than 2008.
Good call. Something didn't sit well with me either when I read about the exact same closing prices from 2008 last week.
It doesn't imply that things aren't dire, just that the herd was trapped.
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