Weekly Poll: Bounce Soon?

Discussion in 'Trading' started by shortie, Aug 20, 2010.

SPY Next Week?

Poll closed Aug 27, 2010.
  1. Bullish

    22 vote(s)
  2. Flat

    7 vote(s)
  3. Bearish

    28 vote(s)
  4. I prefer to keep my opinion to myself

    3 vote(s)
  1. [​IMG]

    We are oversold, but we are also in a bear market. Oversold can easily become super-oversold. Therefore, while a meaningful bounce could happen soon, some more downside at first would not surprise me.
  2. We are not in a bear market--we have been in a horizontal market. Goldilocks market?

    PS: How did you get the 5-star rating on this thread. I want my threads to also have 5-star. So knowing tricks would be helpful, particularly if in the future I decide to advertise on this forum.:)
  3. it helps when one has friends :)

    the rating can be selected at the bottom of the page (after the thread is opened)
  4. ET99


    up up and away
  5. KMAX


    Current record: 2-3

    I'm ridin' with the Bears again this week.

    My reasons:
    Seasonality: Bearish
    Dollar: Bullish
    SPY: Bearish
    Industry Group Rankings: Bearish
    Industry Group Rankings (Manufacturing): Bearish
    Economic Data (ISM Survey): Bearish

    HOWEVER, it does look like there is an inverse head and
    shoulders pattern starting to develop on the weekly SPY
    chart. The last shoulder is beginning to form.
  6. Eh, I see a 1 star rating on this thread. [​IMG]
    Go bulls !!
  7. ... yer herd frem mie firsht:

  8. I think I'll remain pretty bearish until we close above our June high for a few days.
  9. LEAPup


    Anyone notice the long legged doji on the daily spy friday's close?

    Yes, it requires confirmation in the form of a move opposite to the prior trade on the next trading day.

    Looks like confusion, and indecision among the bulls and bears has set in.

    Yes, I know, a long legged doji is usually a better signal at tops than bottoms, but just wanted to point out a possible reversal.

    I voted bullish.

    Hope everyone had a great weekend!
  10. "....Cohen adds that the valuations are appealing for the equity markets. “Valuations are very appealing for the equity markets; obviously with low interest rates we think that there is lot of wriggle room for interest rates to increase and equities to still look attractive,” she explains further."

    no mention of S&P 1300 :confused:
    #10     Aug 22, 2010