Tuesday, June 22, 2010

Quick update

I think we shall see a low tomorrow around the 1084 level and then a strong rally.


Adsense said...

Looks to me like we go up into the 4th hour of the day and put in the hourly point 27 and then head back down to at a minimum test the lows of may 2010 if not break them.
it would be nice if you were to do more big picture thoughts like you used to . the daily whip saws are good yet your leaving your readers with out a road map

Chad said...

Tommorow afternoon should be very interesting. This Bull has been gored over and over to where it has no blood left.

It may stop at 860 but will test
666 and fail.

Naveedah said...

Technicals Mon night - Short term bears would retake the agenda below 1077/1072. Short term support is at 1106/1102 followed by 1091/1089 and then 1082/1077as a negative). Technically, the sp500 meaningfully broke down under its 200day MA (1111), something that hasn’t occurred since we first broke above this level last week (6/15). There were other ominous developments today to be aware of too. Transports, which are viewed as a great barometer for general economic sentiment/strength, were one of the weakest groups (slumping more than 3.5%) as the TRAN index slumped under its 20day MA (this space has been a laggard since the FDX disappointment of last week).

Oh my! that bearish!
At least Carl's blogs are there to control our extended market related emotions.
I'm always happy to stay bullish,too even catching 2-3pts on shorts covering bounce.
Thank you so much for doing so much for all of us !

Market Karma said...

From a low at 1084, the next leg up should target approx. 1155

roguewave said...

(1127.50-1216.30)/2= -44.4 + 1127.50 = 1183.1

roguewave said...

phone interuption ..I think I typed 1183.1..obviously should be 1083.1...oops