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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This reminds me of action in Aug of 2007
Market Correct approx 10%
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.