The Importance of the 1400 level on the SPX

With a Fed rate cut or some manipulation they will.

Just remember no one backs you up... you are grazing on your own.

 

General sentiment does seem to be fairly bullish right now. You know what that means.

 

HFT2, How are your long positions after today and yesterday? Still averaging in from S&P 1550?

 

I am puzzled why so many people on ET ( and this thread ) believe that SPX 1400 is of any real significance. Surely there aren't many technicians on ET, because if there actually were, we would not see such a thread even generate such "aggreement" in regards to the 1400 level.

The last time I checked the chart, the 50% retracement of the entire move down off the highs of last October at 1576.09 doesn't even come through until 1416.

 

Based on P&F if we hit 1420, we most likely go to 1500 without much problem.

 

and then on to new highs,






Find me a catalyst PLEASE!!!!!!!!!!!

 

When a seemingly good catalyst appears it will probably be time to be short the market.

 

Probably right so lets get this market moving higher so we can get some shorts for the next downturn.......


Tomorrow the market could really take off or it can reallllly realllly sell off......

2:15pm will call which way the market moves..

 

I guess you already missed the CATALYST that took the SPX up 135 handles from the lows, and the IWM +12.5% off the lows.

And yet you're still looking for THAT all-elusive catalyst . . .

 

How profound.