| StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500 | << 1 ... 25 26 27 28 29 ... 30 >>Post Follow-up |
| nikoschopen 2,824 posts msg #63125 - Ignore nikoschopen |
5/29/2008 2:50:06 PM It looks like the highway is what they'll choose and it's going to raise some nasty eyebrows from the bull camp. Currently, the Spooz is testing the SMA(50) on the 5-minute chart. Will it stay afloat? If it slips and fall from here, it's gonna be one long highway down to hell. |
| nikoschopen 2,824 posts msg #63126 - Ignore nikoschopen |
5/29/2008 2:57:35 PM My rationale that we'll go lower into the close is that for the last two days the bulls pushed up the equity market as soon as the oil market closed shop. Now the latecomers will come rushing in to exploit the same pattern, but it's usually at this time when the big boys usually opt for the crash and burn method. |
| nikoschopen 2,824 posts msg #63127 - Ignore nikoschopen modified |
5/29/2008 3:32:13 PM A sign of the times or just another tall tale? |
| nikoschopen 2,824 posts msg #63147 - Ignore nikoschopen |
5/30/2008 1:53:12 PM |
| nikoschopen 2,824 posts msg #63148 - Ignore nikoschopen |
5/30/2008 1:59:41 PM And 5 minutes later... |
| nikoschopen 2,824 posts msg #63149 - Ignore nikoschopen |
5/30/2008 2:09:22 PM After 15 minutes, not only did it retrace back into the larger channel (red), but stopped right at the ascending lower channel (blue). |
| nikoschopen 2,824 posts msg #63152 - Ignore nikoschopen |
5/30/2008 2:29:02 PM The next anticipated price target should the damn thing go down. |
| nikoschopen 2,824 posts msg #63153 - Ignore nikoschopen |
5/30/2008 2:46:15 PM As a bear, you must ask ureself at this point: What's taking so damn long??!! Obviously, there's no conviction on the side of the bears to push this market down any further. Although it could still grind lower, this only means that the likelihood of an imminent reversal is high. |
| nikoschopen 2,824 posts msg #63154 - Ignore nikoschopen |
5/30/2008 2:55:22 PM S&P initially reversed, but it turned out to be head-fake. However, it did manage to close above the larger channel (red), so we're not out of the woods just yet. I think there might be another leg up (eg. 1-2-3 move). |
| nikoschopen 2,824 posts msg #63156 - Ignore nikoschopen |
5/30/2008 3:05:36 PM How depressing! |
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