Yes… exactly! While he is a good chartist, I didn't think we would get to 1150 and turn back down, allowing everyone a great entry. I said that we would fall short of it, or rally past it.
The same thing applies to the 1070 level I believe. We should fall short of it (for now, as we still could go back up to it later… as in a month or so?), or we should really fake everyone out and rally past it to 1100 or higher.
I see 1070 too Jim, as I still have that 1070.50 print from last week. So, I do believe it will be hit. Of course the “when” part is still unknown?
Those guys at BAM has been wrong on the turn dates, but again… who is always right? No one. They did say the word “if” the market is going to follow the 1987 model.
So if it doesn't follow it, then we should rally to 1070 area first. The only problem I have with that, is that everyone is expecting it. Plus, the mass media is now saying that “the bottom is in”… and you know they are always wrong.
I certainly could see a rally into the close today, if they want to squeeze out the last short, and get everyone bullish again… which of course they do.
You remember when everyone was calling for a right shoulder of 1150, and we only got 1131… that means we shouldn't get 1070 either, as it would fool a lot of people if we started back down from here.
I suspect that we will push higher into the close today, as by then, the 15 minute chart will have reset the overbought conditions and will go back up again (on the histogram bars).
Yes… exactly! While he is a good chartist, I didn't think we would get to 1150 and turn back down, allowing everyone a great entry. I said that we would fall short of it, or rally past it.
The same thing applies to the 1070 level I believe. We should fall short of it (for now, as we still could go back up to it later… as in a month or so?), or we should really fake everyone out and rally past it to 1100 or higher.
Especially chart trader. he kept calling for the 1070 on right shoulder and finally admitted that 1031 was it. I
iam leery about 1070 and will exit my long before that w/ tight stops
I see 1070 too Jim, as I still have that 1070.50 print from last week. So, I do believe it will be hit. Of course the “when” part is still unknown?
Those guys at BAM has been wrong on the turn dates, but again… who is always right? No one. They did say the word “if” the market is going to follow the 1987 model.
So if it doesn't follow it, then we should rally to 1070 area first. The only problem I have with that, is that everyone is expecting it. Plus, the mass media is now saying that “the bottom is in”… and you know they are always wrong.
I certainly could see a rally into the close today, if they want to squeeze out the last short, and get everyone bullish again… which of course they do.
You remember when everyone was calling for a right shoulder of 1150, and we only got 1131… that means we shouldn't get 1070 either, as it would fool a lot of people if we started back down from here.
Weiss just sent me an alert to enter spy positions. they are seeing 1070 fot this bounce for whatever its worth.
Holding tNA and SSO because of it and will wait a bit longer on short adds.
Not that these guys have been right lately (who has?), but they just tweeted this 2 hours ago:
“$SPX–Just triggered a capitulation sell signal… “
http://twitter.com/baminvestor
I suspect that we will push higher into the close today, as by then, the 15 minute chart will have reset the overbought conditions and will go back up again (on the histogram bars).
thank you much san.
S&P 500 trading near important resistance area
http://niftychartsandpatterns.blogspot.com/2010…
I gotcha!
I have a saved game on Sonic Unleashed as well… =whistles= So far, my 7 yo son is further along in the game than me!