Good on ya Evil...thats the spirit :t_up:
Yes agree Peat I won't be ignoring it yet. Also I suspect the computerised TA indicators will have it factored in on the charts
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...once the *1060 range went and the index violated the 3-month lower channel support *1053, stop-loss triggers accelerated the sell-off and HFT did the rest; agree with Hoop that price action explosively bouncing back just off the February 2010 Low bodes well for a slow summer rally grinding up its way towards the *1220 level
...in the meantime however, price action to *1066 yesterday needs confirmation and it is likely at this stage that the market would want to confirm *1066 as floor anywhere in the February 25 price range *1085/*1097
Kind Regards
...as outlined earlier, the SPX 500 traded lower into the February 25 range to intraday Low *1094 and returned into positive daily territory for now; weekend trading may cause the index to close on the weak side today, but price action bodes well for further upticks with the 50-day MA *1163 as target within the coming weeks
...funnily enough, the technical set-up still remains extended and signals a possible failure in the 50-day MA range that would motivate the market to initiate another *1066 challenge with the February 25 range as an early support zone
...if successfully defended, the following summer rally would target *1220 which would pose a formidable barrier for further gains and potentially be a market top for this current rally already in place
...on the flipside, trading below the February 25 support zone signals weakness and further downside
Long Term: THE BEAR
Kind Regards
...technically the market appears to build base above the February 25 Low but could range trade for a while till the overextension is worked off
...on the flipside, trading below the February 25 support zone signals weakness and further downside ...honestly, always wonder why there is so much emphasis on fundamentals currently
-stuffed and NOT GETTING ANY BETTER-
Special – Market Plunge Examined
http://www.thedisciplinedinvestor.co...ed+Investor%29
Long Term: http://i44.tinypic.com/t0mhjs.jpg
Kind Regards
Hoop. I'll be treating it as it is, and working with its parameters.
Alert for this short given free on the blog 25/3.
http://www.lincolnfx.com/wp-content/...0100508-ym.gif
The Euro spike was also no real surprise - potential move alerted on 26/3
http://www.lincolnfx.com/wp-content/...-26-March1.jpg
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Belgarion - the ONLY truly undestructable, unbeatable bull
www.stocktiming.com: -data point 10 May 2009-
...Institutional Core Holding http://i42.tinypic.com/34oxcub.jpg...trading below secondary support -caution-
Trader Update -data point 10 May 2010:
...trading set-up signals a short term overbought but long term still extended market only slightly dented by last weeks price action
outlook:
-favorable risk/reward -long position- above Close *1162
-initial minor target *1203 for re-valuation
-end of summer target *1220/*1243/*1250 topping range past Close current *1199/*1203 trendline
-potential yearly target *1284 (+)
Long Term: http://i44.tinypic.com/t0mhjs.jpg
Kind Regards
www.stocktiming.com: -data point 11 May 2009-
...Institutional Core Holding .http://i44.tinypic.com/1z63z9f.jpg..closing above secondary support ideally need confirmation before a challenge of primary support line
Trader Update -data point 11 May 2010:
...the SPX 500 so far traded to intraday *1166 above Mondays High *1164 supported by rather cautious internals
...braking above *1164 would motivate the market to try the April 28 Low *1182 as the next logical upside target on its way to a challenge of the Apr 29 High *1209
...looking ahead, the SPX 500 http://i40.tinypic.com/dm79td.jpg appears to be set in a large wedge between *1209/*1100 potentially the summer trading algo
...institutional selling http://i44.tinypic.com/2n8zz0h.jpg ...technically still in uptrend but in early reversal mode
Long Term: http://i41.tinypic.com/33mmkxe.jpg
Kind Regards
the bounce is pretty weak. weaker than even I thought it would be. I was thinking it might get up back close to 1200.
agree, peat; todays Close under *1162/*1164 comes with mixed to weak internals and a market with hardly any jolt; likely that institutions either want to confirm secondary support on the Core Index or want another leg down to the *1100 area before they are comfortable for further upside
...anyway, the volatility is nice but rather get out near the days Highs rather then just leave it for tomorrow
Kind Regards
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Lull before the storm