StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 2 3 4 5 ... 30 >>Post Follow-up
nikoschopen
2,824 posts
msg #60743
Ignore nikoschopen
3/24/2008 3:35:22 PM



nikoschopen
2,824 posts
msg #60744
Ignore nikoschopen
3/24/2008 3:49:17 PM

S&P has since retraced back down to 1250 and is struggling to head higher. If it can close above 1250, there could be another rally tomorrow. If not, profit-taking alone could drive this market much lower.

nikoschopen
2,824 posts
msg #60747
Ignore nikoschopen
modified
3/24/2008 4:10:59 PM



nikoschopen
2,824 posts
msg #60757
Ignore nikoschopen
3/25/2008 12:22:13 PM

Penetrating above the SMA(50) for the second time on the 5-minute chart, there's a real chance for another rally going forward.

S&P eMinin 5-minute



nikoschopen
2,824 posts
msg #60758
Ignore nikoschopen
modified
3/25/2008 12:50:34 PM

Needless to say, the next profit target lies near 1257-ish. The measured move from the earlier upleg of this current rally (1342 - 1352.75) would also suggest that this second upleg will run up to 1257 or so.

nikoschopen
2,824 posts
msg #60759
Ignore nikoschopen
3/25/2008 1:06:55 PM

Although it's premature to call for an outright reversal, bulls are obviously losing momentum as the lower channel is being retested,

nikoschopen
2,824 posts
msg #60760
Ignore nikoschopen
3/25/2008 1:53:55 PM

Once again, the bulls are reasserting themselves by rearing their ugly heads. The first tentative target is at 1360 and the second at 1365. I doubt we'll ever pass above 1365 for the day.

nikoschopen
2,824 posts
msg #60761
Ignore nikoschopen
3/25/2008 2:18:57 PM

The bulls need to charge above the rising wedge for this rally to stick..




nikoschopen
2,824 posts
msg #60762
Ignore nikoschopen
3/25/2008 2:21:53 PM

Here's an early warning. The rising wedge is about to get shattered to the downside.

nikoschopen
2,824 posts
msg #60763
Ignore nikoschopen
3/25/2008 2:33:47 PM

Unless we break above the upper channel line (red), here's the game plan for this afternoon.



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

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