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The SPX is currently testing the .618 retracement where it is finding some resistance.
Keep an eye on the Renko for any signs of a reversal - none so far.
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&b=3&g=0&id=p76324444014&a=164811274&listNum=61
I don't know if that Fib RL will hold back the tide of bullishnes, Steve ... it looks like 'da boyz have this one pretty well sorted out right now.
Exactly, a close above those daily moving averages would be constructive as I said earlier.
so what scenerio are you guys trading on? ru holding any pos now for a move either way?
market either goes to new highs from here or it doesn't, who cares, you guys think too much, trade instead of over thinking
Next resistance is 1211 as you can see on the 5 min,
and the Renko positive divergence provided a nice bounce
Matt, I am trading ... I was just pointing out that the SPX was overpowering the Fib resistance. Sorry if my message was taken the wrong way.
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Comment
Posted by steve on 29th of Apr 2010 at 10:11 am
The SPX is currently testing the .618 retracement where it is finding some resistance.
Keep an eye on the Renko for any signs of a reversal - none so far.
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&b=3&g=0&id=p76324444014&a=164811274&listNum=61
I don't know if that
Posted by radrian on 29th of Apr 2010 at 10:49 am
I don't know if that Fib RL will hold back the tide of bullishnes, Steve ... it looks like 'da boyz have this one pretty well sorted out right now.
Exactly, a close above those
Posted by steve on 29th of Apr 2010 at 11:05 am
Exactly, a close above those daily moving averages would be constructive as I said earlier.
so what scenerio are you
Posted by 11111 on 29th of Apr 2010 at 11:12 am
so what scenerio are you guys trading on? ru holding any pos now for a move either way?
market either goes to new
Posted by matt on 29th of Apr 2010 at 10:51 am
market either goes to new highs from here or it doesn't, who cares, you guys think too much, trade instead of over thinking
Next resistance is 1211 as you can see on the 5 min,
and the Renko positive divergence provided a nice bounce
Matt, I am trading ...
Posted by radrian on 29th of Apr 2010 at 11:00 am
Matt, I am trading ... I was just pointing out that the SPX was overpowering the Fib resistance. Sorry if my message was taken the wrong way.