hno::lol:~~:<<
<<:assmad:
I think we were looking at a retrace before it became clear China was going to have to slow their growth, before Obama took the Massachussetts election results out on the Banks/Wall St, and before people got the jitters this week about the sky falling, again.
Consolidation is necessary before moving higher -- Big Money had to shake-out the retail investors just as they started getting their feet wet. I'd warmly welcome more discounts on my favorite stocks.
:toast:
please listen to spread destroyer... he obviously knows his technicals..
i have been telling people the market has potentially topped for the year...
if you follow the SP futures.. the top is exactly 1148.00...
it was made on the 12th or 13th...
i might add that if you follow Ken Roberts (1-2-3) tops and bottoms, this was a classic (1-2-3) TOP...
after this Top was made, we bantered in a range from 1126 to 1147.25... notice the 2 other attempts that were made, to take out the 1148 and they all failed...
Here is what you should circle for yourself... This is a 100% fact... There is a gap at 904 on the SP futures charts... it will get filled at some point in time... for this to occur, the dow would be at approximately 8300 or so...
I personally do not think we see a W formation on the charts but i do see the 904 gap being filled...
and very important.. if you measure the SP futures Low in March of 660.. to the High of 1148... the 50% retrace is exactly 904.00... which is a key Fib number for those that follow...
so all this adds up to a trip to 904 for the SP and you should be able to book this...
Falcon
i have been telling people the market has potentially topped for the year...
if you follow the SP futures.. the top is exactly 1148.00...
it was made on the 12th or 13th...
i might add that if you follow Ken Roberts (1-2-3) tops and bottoms, this was a classic (1-2-3) TOP...
after this Top was made, we bantered in a range from 1126 to 1147.25... notice the 2 other attempts that were made, to take out the 1148 and they all failed...
Here is what you should circle for yourself... This is a 100% fact... There is a gap at 904 on the SP futures charts... it will get filled at some point in time... for this to occur, the dow would be at approximately 8300 or so...
I personally do not think we see a W formation on the charts but i do see the 904 gap being filled...
and very important.. if you measure the SP futures Low in March of 660.. to the High of 1148... the 50% retrace is exactly 904.00... which is a key Fib number for those that follow...
so all this adds up to a trip to 904 for the SP and you should be able to book this...
Falcon
i'm listening this time :toast:
after you nailed the march bottom
plus i don't think its coincidence that we could be topping out here finally with a republican winning kennedy's seat
now that its looking like GOP gaining momentum this is going to cause alot of gridlock in congress which is bad for all the "printing measures"
i think what you will see --- is a grinding down pattern over the next few months...
Top: 1148
Gap: 904
Bottom: 660
i think for technicians, this is the perfect storm... i could add another tidbit or two to this but there is no need..
the next true question will come, when we reach 904.... when the SP reaches that number, you will then have a test..... this is a test that will determine, if a double dip (a W pattern) is in order...
now if you doubt this (and its possible that im wrong), all you have to do is watch the 1148 number on the March SP futures.. if that number is taken out, then all bets would be off...
but there is a huge possibility that the High for the entire year of 2010 has already been placed.. so be careful buying anything..
i could write you a note about the coming explosion in soybeans.. a 60yr cycle low is approaching... this should ensure that beans make a run back to $16.... but thats for another thread..
Falcon
Top: 1148
Gap: 904
Bottom: 660
i think for technicians, this is the perfect storm... i could add another tidbit or two to this but there is no need..
the next true question will come, when we reach 904.... when the SP reaches that number, you will then have a test..... this is a test that will determine, if a double dip (a W pattern) is in order...
now if you doubt this (and its possible that im wrong), all you have to do is watch the 1148 number on the March SP futures.. if that number is taken out, then all bets would be off...
but there is a huge possibility that the High for the entire year of 2010 has already been placed.. so be careful buying anything..
i could write you a note about the coming explosion in soybeans.. a 60yr cycle low is approaching... this should ensure that beans make a run back to $16.... but thats for another thread..
Falcon
you dont need me to tell you that we see 904 on the SP before we see 1149... that is probably a given now..
this thread isnt about me...
the Fib numbers are great to use, you would be surprised how often they work and this includes all time frames..
ken roberts was also full of BS but his (1-2-3) tops and bottoms are pretty darn solid..
you guys can hash out the rest
Falcon
this thread isnt about me...
the Fib numbers are great to use, you would be surprised how often they work and this includes all time frames..
ken roberts was also full of BS but his (1-2-3) tops and bottoms are pretty darn solid..
you guys can hash out the rest
Falcon
This is when you know you're close to a bottom ... folks start saying the sky is falling and we're going to retrace 18%. We're back in the chanel we traded in for months, 1080-1120. This is nothing new or anything to panic over.
Although, The Bulls Last Stand is coming next week. They say 1085 but I think 1082 is the real line in the sand.
I smell an intra-day reversal coming early next week. It's gonna be ugly either way -- GL to both sides.
