StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 2 3 4 5 ... 30 >>Post Follow-up
nikoschopen
2,824 posts
msg #60732
Ignore nikoschopen
3/24/2008 1:14:32 PM



nikoschopen
2,824 posts
msg #60733
Ignore nikoschopen
3/24/2008 1:20:54 PM

Although it's possible, I ain't too sure about the index being able to pull off a continuation rally in the afternoon considering that it's already up over 2.5% on the day. We might just churn for the rest of the day since it's very unlikely to give up much of its profit.

petrolpeter
439 posts
msg #60734
Ignore petrolpeter
3/24/2008 1:35:45 PM

All that smart money poured out of gold/oil/comods last week and it had to go some where(smart money is always safe isn't it).The SSO chart for the S&P as well as the QLD is fantastic daily today.Would you be so kind as to post it intra day NIKO?

maxreturn
745 posts
msg #60735
Ignore maxreturn
3/24/2008 1:37:19 PM

Agreed. BTW...I HATE it when the market gaps higher like this. I had RIMM and OI picked out for option plays but both gapped higher and never looked back. ARGH!!!! But...I must stick my discipline and not chase. Still...it chaps me!

nikoschopen
2,824 posts
msg #60736
Ignore nikoschopen
3/24/2008 1:41:44 PM

S&P just bounced off the lower channel (red line).

nikoschopen
2,824 posts
msg #60737
Ignore nikoschopen
3/24/2008 1:56:18 PM

Proshare Ultra S&P500 (SSO) 5-minute


nikoschopen
2,824 posts
msg #60738
Ignore nikoschopen
modified
3/24/2008 2:02:56 PM

S&P just broke below the lower channel. The next support will be at 1355-ish. It's no coincidence that the SMA(50) also near 1355.

nikoschopen
2,824 posts
msg #60739
Ignore nikoschopen
3/24/2008 2:05:29 PM

Sure enough bouncing off @ 1355.75. It should retrace back up to the lower channel.

nikoschopen
2,824 posts
msg #60740
Ignore nikoschopen
modified
3/24/2008 2:26:04 PM

The trend is currently moderately bearish. The bounce from 1355 wasn't strong enough for me to believe that this is just another pullback prior to another rally. But unless we break below 1350 the main bullish trend remains intact.

nikoschopen
2,824 posts
msg #60741
Ignore nikoschopen
3/24/2008 2:43:07 PM



StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 2 3 4 5 ... 30 >>Post Follow-up

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