Posted by marketguy on 19th of Jul 2011 at 10:23 pm
I definitely agree with the 1331-1334 area (remember at the end
of the day I think we are going to 1400+)....problem is (which is
what I'm good at..."not!") is I think we are going back down one
more time before the final re-launch.....
here's a chart of what I follow in the way of daily
signals...so, yes, at this point it is still on a sell
signal....not perfect, but given the decline right off the original
signal usually there should be a buy signal before reversing (which
we've yet to see)....
Posted by marketguy on 19th of Jul 2011 at 10:31 pm
johnsa,
obviously nothing is certain but here's where I think the path
"may" lay....posted it last week...
a break below the purple arrow would put 1400+ in doubt (a break
below the red arrows would all but kill the idea of 1400+)....
however, until then that's my preferred path ("hopefully" after
1 more decline to the rising uptrend line)....of course, the
futures tonight have a completely different plan in mind....
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I definitely agree with the
another....
Posted by marketguy on 19th of Jul 2011 at 10:23 pm
I definitely agree with the 1331-1334 area (remember at the end of the day I think we are going to 1400+)....problem is (which is what I'm good at..."not!") is I think we are going back down one more time before the final re-launch.....
here's a chart of what I follow in the way of daily signals...so, yes, at this point it is still on a sell signal....not perfect, but given the decline right off the original signal usually there should be a buy signal before reversing (which we've yet to see)....
Why are you so confident
Posted by johnsa on 19th of Jul 2011 at 10:26 pm
Why are you so confident of the 1400+ thing? Is it based on technical reasoning or some other scenario?
johnsa, obviously nothing is certain but
Posted by marketguy on 19th of Jul 2011 at 10:31 pm
johnsa,
obviously nothing is certain but here's where I think the path "may" lay....posted it last week...
a break below the purple arrow would put 1400+ in doubt (a break below the red arrows would all but kill the idea of 1400+)....
however, until then that's my preferred path ("hopefully" after 1 more decline to the rising uptrend line)....of course, the futures tonight have a completely different plan in mind....