Trend reversal or pull back or no idea

Discussion in 'Trading' started by FreakofNature, Apr 10, 2012.

Market Direction - What's your take ?

  1. Trend Reversal - Major correction incoming

    5 vote(s)
  2. Healthy pullback - New highs coming soon

    19 vote(s)
  3. I have no idea

    9 vote(s)
  1. well there you have it

    post your thoughts, back them up if possible
  2. TILT2


    As the Fed has been printing money, which makes the global economy even more healthier, I am sure that it's just a pull back......
  3. Trend change is a major process, takes time, especially on a daily chart.

    Considering this is the first time the SP has dropped below the 50 MA since the golden cross happened, and considering it remains uptrending, I conclude healthy pullback and feel confident for the time being.

    If you are brave, accumulate under the 50 on lower lows, then when the 50 once again becomes support, add to your position.

    If conservative, wait until 50 becomes support once again, then start to buy.

    I'm aggressive, below 1350 I will start to accumulate.
  4. I think RedTankEra has it right this is the first time since the low in

    December that we have seen this kind of pullback. Everything right

    now is lining up along major support areas. Trendlines 1350 and 50 day MA.

    When major support levels converge generally in this type of market we

    find that buyers will start coming out.

    If we break 1350 with news in Europe I believe we could see a reversal.
  5. Perhaps Alcoa will turn the short term downtrend, time will tell!
  6. i see many blue chips posting good profits, P/E ratios are reasonable, so why a reversal?
  7. Well only Alcoa so far, new quarter ahead now.
  8. Trend reversal. Nice to see that the mayority thinks otherwise.
  9. =========
    Well election years tend to be uptrenders also:D

    GLD, gold are some good uptrends; but silver ,SLV look like pretty good downtrends.
    SPY 200 day ma is still below price which is bullish/uptrending.

    But since APR 15 tax selling is near,
    closing price isstill below 50dma [SPY]
    sell volume is increasing,
    parabolic time price says sell,
    buy volume, has been trending lower[thats bearish also],
    20 day ma[SPY] is bearish.

    And while SPY is still bullish on 1 year chart/200dma/yearly lows;
    i probably will buy a Bank of America forclosure or something similiar. None of this is a prediction:D
  10. I think that what we saw is somewhat an over re-action in the markets the other day.

    Like many have pointed out P/E are attractive and the Fed if conditions weaken will jump in.

    The Europe problem will not go away long term but for now banks in Europe

    have plenty of cash and the ECB will act when they need to and right now just

    because borrowing rates on Spanish and Italian Debt climb doesn't mean we

    need to run for the hills.

    This is run of mill pull back.
    #10     Apr 12, 2012