StockFetcher Forums · General Discussion · SPX<< 1 2 >>Post Follow-up
Eman93
4,659 posts
msg #71489
Ignore Eman93
2/17/2009 10:59:03 PM

Any one trade the symmetric triangle break out? 100% the depth of the triangle. Puts it around 595


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decipherlinda
133 posts
msg #71493
Ignore decipherlinda
2/18/2009 8:16:36 AM

"100% the depth of the triangle. Puts it around 595" Eman93, at what point is the depth of the triangle measured?

Would resistance around 750 take precedence?

Eman93
4,659 posts
msg #71509
Ignore Eman93
2/18/2009 3:08:42 PM

I would think so.........

Eman93
4,659 posts
msg #71515
Ignore Eman93
2/18/2009 3:46:24 PM

The bulls are really putting up a fight.........

johnpaulca
11,300 posts
msg #71516
Ignore johnpaulca
2/18/2009 4:08:38 PM

It was a draw today. It's not easy to kill a Bear.

Eman93
4,659 posts
msg #71518
Ignore Eman93
modified
2/18/2009 4:22:19 PM

What is there to be bullish about?

If you look at all the down graded earning projections for 09 and use a 12X earnings factor you get SP around 650.


decipherlinda
133 posts
msg #71527
Ignore decipherlinda
2/19/2009 9:01:48 AM

Really good article on this at:

http://www.thegreedytrader.com/QQQQTrendAnalysis.aspx?p=206

As of 2/16/2009 resistance at 959 and support at 600.

Eman93
4,659 posts
msg #71685
Ignore Eman93
2/23/2009 11:31:35 PM

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Eman93
4,659 posts
msg #72343
Ignore Eman93
3/9/2009 7:45:34 PM

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Eman93
4,659 posts
msg #72345
Ignore Eman93
modified
3/9/2009 7:59:20 PM

If you use the first blue line starting from the left you get a depth of 238 if you use the the second line you get 175, I had the break out at 825.

The SPX did not make a new low today (slightly bullish) the low of the break out so far is 666.73

825-175 = 650 so we were real close to a tech bottom.

Now if you use the first number 825-238 = 587

A big volume spike today also, look at the volume spike on the Nov bottom


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