A one day flush out of $SPX waaay below bollinger band; waaay
below 50 and 200 day MA. Absolutely no reason the market
should have rallied back in Aug 2007 -- all the crappy fundamentals
were revealed that summer. But it did and staged a furious
rally to a new high in early October. I read a comment on
another blog.... the only thing that can cause a market rally now
is to kill Osama all over again. LOL!
Looking for Hammer time today! A close above lower BB at
1258 would look pretty good now.
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Market Correct approx 10%
Posted by marks on 3rd of Aug 2011 at 10:59 am
S&P from 1370 -1234 is 10%, Nice correction for now. Lets get back to test the trend line above 20,50,200d etc
This reminds me of action in Aug of 2007
Posted by kalinm on 3rd of Aug 2011 at 11:04 am
A one day flush out of $SPX waaay below bollinger band; waaay below 50 and 200 day MA. Absolutely no reason the market should have rallied back in Aug 2007 -- all the crappy fundamentals were revealed that summer. But it did and staged a furious rally to a new high in early October. I read a comment on another blog.... the only thing that can cause a market rally now is to kill Osama all over again. LOL!
Looking for Hammer time today! A close above lower BB at 1258 would look pretty good now.