Technicians please..

Discussion in 'Trading' started by retire45, Mar 14, 2008.

  1. SP1270-1275... 5th try today.. Does it get stronger or weaker with each prod?? Me thinks it becomes a much better trade if broken after this many defenses..

  2. they manufacture the trend for suckers (not like you ;-) so they think "wow NOW THATS THE BOTTOM" ;-))
  3. It's not a matter of how many times a certain level is "tested". . . What is more significant is what the internals tell you that make up the index because it is capitalization "float" weighted.
  4. So the internals will sway your trading decision should a close under 1270 be at hand?

    A close under that level is only possible if the higher cap stocks fail.. yes?
  5. Lucrum


    I've read arguments for both.
  6. But there are other "factors" as well because during periods of panic selling the large-cap multinational names usually get SOLD first because they are the most LIQUID. - - - And such selling can wind-up creating a low even as technical support levels get broken.
  7. Ancient Chinese saying........."multiple extremes are made to be broken."
  8. Yep, it gets weaker with each hit, not stronger.