StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 18 19 20 21 22 ... 30 >>Post Follow-up
nikoschopen
2,824 posts
msg #62433
Ignore nikoschopen
5/9/2008 3:24:58 PM





This is one friggin' boring market. As a bear, I would like to see the S&P break down and close below the trendline as mentioned above. Otherwise, there could be a bounce considering that there's a weekend just around the corner. One note of minor importance is that volume is, again, practically dead.

mb504
29 posts
msg #62458
Ignore mb504
5/10/2008 12:51:18 PM

I know you are not an Elliot Wave guy, but SP has probably just completed a "counter trend" Wave (4). W4 is typically longer in time than Wave 2 that was completed Dec 11th... And this (countertrend) Wave was precisely 3x's longer in time than W2 that ended May 2nd...

The only other scenario could be an ABC sequence... In which the SP should turn on 1454 in the first two weeks of June....

After fuel rises more (setting up for summertime) I think the market will start puking with the rest of the world, and the next DOWN leg will begin... That will begin Wave C downward...BTW- WC is 100% of WA projected from B 1454 or so...




jbrtrader
32 posts
msg #62512
Ignore jbrtrader
5/12/2008 1:48:15 PM

I'm just watching for the 36 area on QID for further clues..

jbrtrader
32 posts
msg #62517
Ignore jbrtrader
5/12/2008 2:12:18 PM

On the QID,drawing a trendline off the previous tops of w1-w2 11/12/07&12/18/07 extending down towards this month arrives at around 36 along with the w2 low also 36.The QID pattern from the top on 5/10 could be counted as an ABC with C having about 3 points left to go to hit 36.At 36 wave C would equal the distance travelled of wave A..

nikoschopen
2,824 posts
msg #62519
Ignore nikoschopen
5/12/2008 3:19:55 PM

To me, this is just another technical bounce as I already mentioned on Friday. However, I doubt this rally will sustain more than 3 days. My prediction is that it will make a double-top formation and roll over,


chetron
2,817 posts
msg #62532
Ignore chetron
5/12/2008 6:46:09 PM

i think it will continue bouncing all the way to 144 and then to 150.




maxreturn
745 posts
msg #62533
Ignore maxreturn
5/12/2008 6:55:18 PM

Right now price is just below the EMA200 and the MA200 is not that far above. Today although an up day was on weak volume. VIX is very low right now. If it starts to rally from these levels look out below. UNTIL price rallies on stronger volume and starts finding support above these levels I would be very cautious on the long side.

nikoschopen
2,824 posts
msg #62552
Ignore nikoschopen
5/13/2008 11:30:00 AM

This baby will be thrown out with the bathwater all the same.



nikoschopen
2,824 posts
msg #62561
Ignore nikoschopen
5/13/2008 1:59:22 PM

Yahoo! Finance reports

Stocks Fall on Retail Report, Bernanke Speech, Oil - AP
Wall Street pulled back Tuesday after a report on retail sales and comments from Federal Reserve Chairman Ben Bernanke gave investors little incentive to extend the previous session's big advance. A jump in oil prices added to the selling.

However, it was only yesterday when they claimed that the market was rallying on the strength of dollar and falling oil prices. Why don't they ever write that the market is acting insane and its participants are a bunch of dumbass who will believe anything the self-serving pundits throw at them?

Same story, different idiots or different story, same idiots?

nikoschopen
2,824 posts
msg #62562
Ignore nikoschopen
5/13/2008 2:30:34 PM



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