Posted by jwtrades on 15th of Apr 2009 at 07:03 pm
Matt,
Do you still think there's a shot for the market to
correct to 820? Or can this A Wave take the SPX straight to 1000
with these minor pullbacks of about 20 pts? I totally agree
with your analysis I'm just shocked at how every minor pullback is
immediately bought. In my opinion a multi-day pullback would be
healthy, but it doesn't seem that this may happen. I know when
everyone starts to think it wont happen it normally does, but this
is still pretty remarkable.
Everyone and every chart I see has a pullback coming ... The
question is from what levels does A complete and the B pullback
happen. One option still open is that we Tech.
haven't completed Wave 5 up in A. Most charts I see have SPX
875-900 as end levels for A. That is a fair target
should SPX 863 ress not hold and we go higher. It's
tricky right now but that's why it is.
Dont let the feeling of missing this rally suck you in. I had 2
calls from friends wanting to buy banks which tell me the market is
doing its job of sucking people in. I guess the best way to explain
it is to date the market daily......and dont marry it......
I have no doubt that those fib levels posted will be met on the
pull back.
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Matt, Do you still think there's
SDS 60 min chart
Posted by jwtrades on 15th of Apr 2009 at 07:03 pm
Matt,
Do you still think there's a shot for the market to correct to 820? Or can this A Wave take the SPX straight to 1000 with these minor pullbacks of about 20 pts? I totally agree with your analysis I'm just shocked at how every minor pullback is immediately bought. In my opinion a multi-day pullback would be healthy, but it doesn't seem that this may happen. I know when everyone starts to think it wont happen it normally does, but this is still pretty remarkable.
Everyone and every chart I
Posted by cspirit on 15th of Apr 2009 at 07:56 pm
Everyone and every chart I see has a pullback coming ... The question is from what levels does A complete and the B pullback happen. One option still open is that we Tech. haven't completed Wave 5 up in A. Most charts I see have SPX 875-900 as end levels for A. That is a fair target should SPX 863 ress not hold and we go higher. It's tricky right now but that's why it is.
stay thru to the charts...they
Posted by siewyin on 15th of Apr 2009 at 07:31 pm
stay thru to the charts...they tell the story.
Dont let the feeling of missing this rally suck you in. I had 2 calls from friends wanting to buy banks which tell me the market is doing its job of sucking people in. I guess the best way to explain it is to date the market daily......and dont marry it......
I have no doubt that those fib levels posted will be met on the pull back.