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15-05-2009, 08:33 AM
#311
I am staying on the sideline abit. This Dow can go both ways.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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15-05-2009, 10:46 AM
#312
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15-05-2009, 05:53 PM
#313
...would strongly assume, that SPX 500 key support level *875 would need to be tested (at a minimum) for this rally to go for target without any deeper correction
...top *930 to target *1000 > 70 points; who would want to go in big for this sort of gain in the short term;
...in 2007 at the SPX 500 top, bullish sentiment reached 88% bulls; last Friday, the reading stood at 85% (if 85% of market participants are long, who are the institutions selling to???
...Institutional selling was above its March/May resistance line on Monday and it closed above the shorter term horizontal resistance line yesterday (Wednesday)
...Wednesday, inflowing liquidity moved down sharply
Trading Strategy: sideline (safest); short with upside stop;
Kind Regards
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16-05-2009, 10:55 AM
#314
Originally Posted by ananda77
...would strongly assume, that SPX 500 key support level *875 would need to be tested (at a minimum) for this rally to go for target without any deeper correction
Kind Regards
Hi Ananda77.
Was looking over the S&P500 and I cant identify the support you refer to at 875. Can you help me out here?
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16-05-2009, 11:02 AM
#315
Originally Posted by Hoop
Add another way Doc....sideways.
I could live with that Hoop. There will always be stocks that will perform in those conditions.
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16-05-2009, 04:09 PM
#316
Originally Posted by STRAT
Hi Ananda77.
Was looking over the S&P500 and I cant identify the support you refer to at 875. Can you help me out here?
...on a closing basis in the daily/weekly timeframe:
-April 17th High SPX 500 *875.6 was not exceeded until month end April
-1st of May marked the start of another advance exceeding *875.6 at the close
to the May 8th High *930
-*875 > bottomline for any sustained continuation of the current rally
...SPX 500 closed at *883 with intraday low *876.9 (not bad)...but well below last month's high *889
...this should give the index enough strength to test resistance at *915
-successful test of *915 > SPX 500 *944/*967*(+)
-failure in the *915 range (most likely) will result in a substantial downturn, possibly testing March 09 Low SPX 500 *666
-the deciding point for a shallow or deeper correction is a successful/failed test of SPX 500 *816/*826 range
Trading Strategy: sideline (safest); hedge: short term neutral to short bias to *915 with sell stops respectfully below 875.6
!!!LONG TERM, REMAIN ACUTELY AWARE OF THE BEAR!!!
(there is no guarantee and strategies are just ideas)
Kind Regards
Kind Regards
Last edited by ananda77; 16-05-2009 at 10:41 PM.
Reason: addition
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17-05-2009, 11:32 AM
#317
Thanks Ananda77.
I appreciate your reply
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20-05-2009, 08:07 AM
#318
...SPX 500 tilted at *915 and closed at *908
Trading Strategy: sideline (safest); hedge: short term neutral to short bias to *915 with sell stops respectfully below 875.6
(there is no guarantee and strategies are just ideas)
Kind Regards
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21-05-2009, 10:28 AM
#319
...SPX 500 closed at *903; for the last two days, the volume on the NYSE was quite thin, while the down volume by day end was up today, indicating increasing selling pressure;
...however, unless *875 is taken out decisively, it pays to be careful on the downside;
Kind Regards
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21-05-2009, 10:41 AM
#320
Member
Hate to say it, the worm has turned.
US$ in real trouble, DOW to take a hit.
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