| StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500 | << 1 ... 17 18 19 20 21 ... 30 >>Post Follow-up |
| nikoschopen 2,824 posts msg #62360 - Ignore nikoschopen |
5/8/2008 4:26:51 PM"Fairly tight" it was with not surprisingly very negligible volume. Based on the last minute selloff in the futures, the probability of another distribution (to borrow EWZuber's phrase) is damn great in my opinion. As for my prediction made in the above chart, it turned out to be pretty similar, dontcha think? Now that would have made you more than just a tidy dime. ;^) |
| nikoschopen 2,824 posts msg #62362 - Ignore nikoschopen |
5/8/2008 4:57:59 PM Can anyone enlighten this dimwit why a stock like Citybank and other investment outfits that writes off billions of dollars on bad loans manages to rally when it claims to have raised or is in the process of raising more capital? How is it that to pour more money into sinking business is construed as a good news? Furthermore, what guarantee is there that the new capital will not be squandered away in patching up the bad loans? Maybe it's just me but I believe there are morons and there are THE morons. |
| nikoschopen 2,824 posts msg #62428 - Ignore nikoschopen |
5/9/2008 1:45:37 PM So is this a good place to buy or should you wait to see if the trendline gets taken out? S&P 500 ($SPX) Daily |
| nikoschopen 2,824 posts msg #62433 - Ignore nikoschopen |
5/9/2008 3:24:58 PM This is one friggin' boring market. As a bear, I would like to see the S&P break down and close below the trendline as mentioned above. Otherwise, there could be a bounce considering that there's a weekend just around the corner. One note of minor importance is that volume is, again, practically dead. |
| mb504 29 posts msg #62458 - Ignore mb504 |
5/10/2008 12:51:18 PM I know you are not an Elliot Wave guy, but SP has probably just completed a "counter trend" Wave (4). W4 is typically longer in time than Wave 2 that was completed Dec 11th... And this (countertrend) Wave was precisely 3x's longer in time than W2 that ended May 2nd... The only other scenario could be an ABC sequence... In which the SP should turn on 1454 in the first two weeks of June.... After fuel rises more (setting up for summertime) I think the market will start puking with the rest of the world, and the next DOWN leg will begin... That will begin Wave C downward...BTW- WC is 100% of WA projected from B 1454 or so... |
| jbrtrader 32 posts msg #62512 - Ignore jbrtrader |
5/12/2008 1:48:15 PM I'm just watching for the 36 area on QID for further clues.. |
| jbrtrader 32 posts msg #62517 - Ignore jbrtrader |
5/12/2008 2:12:18 PM On the QID,drawing a trendline off the previous tops of w1-w2 11/12/07&12/18/07 extending down towards this month arrives at around 36 along with the w2 low also 36.The QID pattern from the top on 5/10 could be counted as an ABC with C having about 3 points left to go to hit 36.At 36 wave C would equal the distance travelled of wave A.. |
| nikoschopen 2,824 posts msg #62519 - Ignore nikoschopen |
5/12/2008 3:19:55 PM To me, this is just another technical bounce as I already mentioned on Friday. However, I doubt this rally will sustain more than 3 days. My prediction is that it will make a double-top formation and roll over, |
| chetron 2,817 posts msg #62532 - Ignore chetron |
5/12/2008 6:46:09 PM i think it will continue bouncing all the way to 144 and then to 150. |
| maxreturn 745 posts msg #62533 - Ignore maxreturn |
5/12/2008 6:55:18 PM Right now price is just below the EMA200 and the MA200 is not that far above. Today although an up day was on weak volume. VIX is very low right now. If it starts to rally from these levels look out below. UNTIL price rallies on stronger volume and starts finding support above these levels I would be very cautious on the long side. |
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