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Wednesday, November 19, 2008
Looking for 775
The market broke below what I thought would be support at 840 this morning. I think it will reach 775 or so and then begin a rally back above the 1000 level. The October 2002 low was 767.50 in the futures while the March 2003 low was 788.50.
10 comments:
what happens if it goes below 767?
carlos
how can you be so certain?
Carl,
Can you add timeframes? We all know we will see SPX 1000 but when?
Scott
When will we hit SPX 1000?
Scott
Carl,
you seriously think it will rally to 1000? i hope you dont lower your target to 950 and then to 900 afterwards as market keeps going down?
Hi Carl:
As long as everyone and their grand-mother is looking for a rally, we will not have one.
I agree w/ Catherine, things will quickly fall apart under 800 ES.
Rick B
That's three bloggers expecting 775 to hold. I wonder if Xtrends is going to be right after all.
I caught the knife at eod. Any %'s on a turn at 775.
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