Strong bounce today

pabst is right everywere i look all are saying buy buy buy. i've yet to here anyone on cnbc say sell it all. till that happens we go lower over time

 

I think the markets are ready to see Feb/March 2007 lows within the next 4-8 weeks.

 

Watching this congestion zone (20 day intraday) like a hawk. If they can hold this range, there is potential for a squeeze. Otherwise, there is going to be some major technical damage done.

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Looks to have dropped under the support trend line already? i'm looking at the 200 SMA on the DOW....not that far away.

 

Look at the may/june/july 2006 decline. Market rallied back to 20 day ma before falling to new lows then rallied into options expiration. Options expiration is this friday, similar pattern ihmo.

 

Mar 2007 3 days before option expiration is the bottom. Today is 3 days before august expiration.

 

Oct would be a nice time for that, wouldn't it?

 

Oct 2005, 3 days before option expiration market rallies, options expire above the low of three days previously.

 

hate to spoil your party but it has been a pretty strong rally so far this moring though a bit early

 

What a close call. If SPX had printed anywhere on a 1519 handle I was history.