SPX (S&P) breaks through the 50 dma

Discussion in 'Trading' started by NY_HOOD, May 24, 2011.

  1. broke through the 50 dma..if you look, the rsi did not confirm the new high either so that was a sign the rally could break down. lets see if we can reclaim the 50 dma..if not, we can go to 1300 where the next level of support is.
  2. Maverick74


    Are you the guy that just quit trading recently?
  3. yes..but i still enjoy watching the markets and offering my insight.
  4. wrbtrader


    You can't be serious with this latest thread in light of all your recent message posts.

    You're a failed day trader that couldn't handle the emotional roller coaster and trading too you via your own words is stressful, addictive, gambling and many other negative remarks you made.

    I remember a friend that had a drinking problem and decided to quit because it was ruining his life via costing him his marriage, lost his job, DWI along with ruining a few other relationships with adultery.

    He recently called me and ask if I wanted to go to some bar to watch the hockey game on the big screen and he said he will not be drinking. My reply was "NO" and "you still don't get it do you". In addition, I called our other buddies and berated them for the continue "enabling" him. Simply, let him continue ruining his life on his own under the facade he can control himself while hanging out in any bar.

    NY_Hood...you have a serious problem and you need to leave trading alone, cancel your chart/data vendor services and stay away from trading forums because it's very easy to see your paper trail of commentaries that explains your 600k losses.

    Shame on anyone here at ET that caters to your "market insights".

  5. Yep, it pierced the 50 day EMA. So?

    When you use conventional indicators, you get conventional results. Under the bell of a bell curve. The land of mediocrity.

    As you can see, prior breaks have been ultimately inconsequential.

    The divergence of a default RSI says a little. A little.

    Level of ADX suggests "chop".

    Present quantified support is $125.28. A break of that would be definitive.

    The number of new 52wk NYSE lows consistently exceeding 40 would reinforce.

    The end of QE-2 is a toss up. The seasonality of summer isn't.

    Let's see, IF I can remember from my Sunday school days. such a "long long" time ago....eh.............oh yeah, I remember now.........."he who hath NO sin, cast the first stone".
  6. aleatoric


    Thanks, wrbtrader. We need more people like you.

  7. The market always does this and then some say bearish and some say still bullish. That's what creates opportunities.

    You sound bearish. I feel bearish but I have no opinion.
  8. OMG!

    <a href="http://content.screencast.com/users/bwcscreencast/folders/Default/media/2542f984-3e95-48ef-ae4b-cd1fc7c8a1e5/emotion.jpg"><img class="embeddedObject" src="http://content.screencast.com/users/bwcscreencast/folders/Default/media/2542f984-3e95-48ef-ae4b-cd1fc7c8a1e5/emotion.jpg" width="300" height="203" border="0" /></a>
  9. +1

    NYHood, MOVE ON MAN..... it's time