StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 22 23 24 25 26 ... 30 >>Post Follow-up
nikoschopen
2,824 posts
msg #62887
Ignore nikoschopen
5/21/2008 2:09:03 PM

The damn thing is tanking even further as I write!



nikoschopen
2,824 posts
msg #62888
Ignore nikoschopen
5/21/2008 2:13:14 PM

It's far too early to say that we've bottomed for the day but S&P futures is now trading near 1400 and there should be some stiff resistance to any further slide..

nikoschopen
2,824 posts
msg #62890
Ignore nikoschopen
5/21/2008 2:21:30 PM

Or maybe not. It's trading at 1396 at the moment. Next support near 1391. Any Solarfun you might have had under the sun will surely dim over the next few days. lol

petrolpeter
439 posts
msg #62891
Ignore petrolpeter
5/21/2008 2:23:38 PM

Bernanke"s newly created inflation dragon puffs and burns the market down.Cut rates and open windows of billions of dollars to banks and now invest. banks and expect them to be good patrons and save our trouble but deserving 'home owners',ya right.They went out and bought oil contracts and told clients to do so as well.Naive Bernanke.The market swoons,exiting thread NIKO.

nikoschopen
2,824 posts
msg #62892
Ignore nikoschopen
5/21/2008 2:27:43 PM

Petrol,
Nice analysis but, frankly, it's easier said than done now that the market is swooning. When S&P was trading near above 1440, I admit I was a little unnerved.

S&P futures hit a daily low at 1395.50 and is struggling to reverse course. If it does, it will likely to retrace back up to 1400 before taking another plunge. All things considered, we should close at or near the low of the day, wherever that may be.

nikoschopen
2,824 posts
msg #62893
Ignore nikoschopen
5/21/2008 2:38:10 PM

Isn't it beautiful, how things lines up perfectly?
S&P Futures (ESM8) 15-Minute
zoom








nikoschopen
2,824 posts
msg #62897
Ignore nikoschopen
5/21/2008 3:00:27 PM

Alright, S&P futures struck the hallowed ground at 1390.75 and is in the process of making a U-turn. But it strikes me as very odd that bulls gave up their territory so easily. If you remember for the last month or so, whenever there was even a slight pullback, these same bulls would tirelessly push it right back up.

What's more notable was how they completely shut their eyes for so long on every bad economic number, including ever-rising inflation data. What changed this time around that scared the hell out of them?

nikoschopen
2,824 posts
msg #62899
Ignore nikoschopen
5/21/2008 3:40:38 PM

Time for one last plunge!

petrolpeter
439 posts
msg #62931
Ignore petrolpeter
5/22/2008 4:34:13 AM

How can you loose your nerve when you have it pegged on your charts so well?Here
Fetcher[market is etf and slow stochastic(5,5) %K is above 80 and volume is above 400000 and offset 5/19/2008]

,the other side of the polarized ETFs.I see that SSO-S&P Powershrs lines up with the flip over on your channel charts.Knew it was coming.

chetron
2,817 posts
msg #62933
Ignore chetron
5/22/2008 6:43:14 AM

NIKO,
JUST A NOTE OF THANKS FOR THIS WONDERFUL THREAD. I HAVE LEARNED SO MUCH. YOU ARE THE "BEST" TREND LINE INDIVIDUAL I KNOW.




StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 22 23 24 25 26 ... 30 >>Post Follow-up

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