Wednesday, March 10, 2010

Update

The market has entered the target zone outlined by the green oval in this chart. But I still see no convincing evidence that a 25 point break is underway. In fact I think it is more likely that the e-minis rally as high as 1156 before such a break begins.

7 comments:

RBharol said...

Carl,
I am amazed. I am buying your book today....

Bill said...

I think though that if the break does not begin soon, it will be bigger than 25 points.

The market is getting seriously overbought and what goes up must come down. I'd say we'll see a 40 to 50 point break, at least.

Jack said...

Carl,

Yes, I think I mentioned earlier that the 1157 area for S&P stands as critical retracement price.

Jack

janet said...

Carl or anyone who wishes to answer me...is there a ticker symbol that can be bought and sold for going long and shorthing S&P futures (like Carl trades???)thanks...anyone???

Market Karma said...

I think the market is in a very vulnerable state right now. The current condition only happens 3 to 5 times per year. I have highlighted the past occurrences at www.marketkarma.blogspot.com

MC said...

Janet , what are you exactly looking for ?

Evan D Stein said...

I am also very curious to what Janette asked.

How can we trade this without the futures?

Is there options? would SPY work? How can I do this?