One thing I'm looking at: we have a confluence of three supports
right here at 1405-04:
the 9 ema
the 23% fib retracement from the Nov 16 low
the 50% fib retracement from the Nov 28 low
In strong trends, as Steve has often commented, the 9 ema will
hold as support. On the squishier side of things, there are
lots of talking heads calling for the market to go higher by year
end (1550 - 1600), and there's only four weeks left. So, I'm
watching for signs of an early resumption of the up trend (as early
as today or tomorrow), although I am hoping for more downside for
better prices.
One thing I'm looking at:
The SPX would need to get back above (and hold ...
Posted by frtaylor on 4th of Dec 2012 at 01:37 pm
One thing I'm looking at: we have a confluence of three supports right here at 1405-04:
THose talking heads are on Drugs
Posted by zach06 on 4th of Dec 2012 at 08:42 pm
18 MORE TRADING DAYS.... 143 HANDLE MOVE = 7.94 HANDLES PER DAY... NO DOWN DAYS... LIKE I SAID GOOD DRUGS THOSE TALKING HEADS ARE ON.
In any case, if there is a big move up it will happen on 12/12/2012
because 12/12/2012 is an "ELEVEN" number.
"Eleven" days are famous for somthing good or bad happening in history.
Yeah, that's the "squishy" that
Posted by frtaylor on 5th of Dec 2012 at 08:49 am
Yeah, that's the "squishy" that I referred to. And yet the futures are up right now. I closed 1/2 my SPY short yesterday.