Trading today has been very slow, partly because of the Jewish holiday tonight and tomorrow. However, the trading I have seen suggest that a move to 1075-80 is likely to develop before the market breaks 40 points or so. The top will probably be Monday and the low late next week.
8 comments:
All dips are bought and with no catalyst for a downtrade until Tuesday (The Fed), I would agree with you. There is a break coming, but the market needs a catalyst. As we almost always rally in to the Fed, a rally and then failure Tuesday pm would make sense.
1005 - 1015 might be extreme for you, but there seems like logical stopping points for a decline as the Bears do need to get excited and I am sure a move just below 1020 on SPX would get them excited.
Great calls so far.
Thanks!
good to know. i am adding to my shorts
That's what I'm sensing also. Have a great weekend and thanks for all your expertise!! P.S. Could you add alternative energy such as solar to your predictive outlooks list. With Obama wanting to turn America green, I think it will be an importabt issue going forward. Outlooks for Solar etf's such as TAN would be greatly appreciated.
I don´t know if this i correct but according to my plattform so far this day has the most narrow range looking back 326 days... NR326 :)
sill happy hour to go... happy quadruple witching!
keep up the good work carl. and please write another book!
Carl, let us not blame the Jews for enjoying their holidays.
The real problem is that air is thin at high altitudes and not many people can breathe.
It appears that it is only computers trading with each other, and they are still "breathing" because Ben Bernanke gave them the keys to a large repository/depository of oxygen tanks.
thanks for the update, Carl.
Have a great weekend!
Oh now I see why you are not trading today..as alway.. thanks for all your help...
K
Hey Carl.
My 2 cents.
See my indicador until now at yellow alert very close red line. If we compare with other movements can still expect a test red line so mybe top medium ou long term between 1105 ( Major Trend) or 1120 (retracement 50%).After that I expect a drop until the MM50 eventually
http://followmarketrend.blogspot.com/2009/09/spx.html
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