Careful with the media and the amateur calls

C

crazyAtrader

The Monthly 20 SMA in SPX dictates the overall trend of the market.

As long as the "godly" line is not resistance, it is premature to get bearish, in fact, it's even uptrending.

The name of the game is buy low sell high not buy high and crap your pants when it pulls back.

Least probable action in an uptrend is full reversal, most probable action after higher highs is a pullback and they come in different colors.

sp500c.png


More money has been lost predicting bear markets than in actual bear markets, just a friendly advice.

Crazy A
 
Quote from crazyAtrader:

The Monthly 20 SMA in SPX dictates the overall trend of the market.

As long as the "godly" line is not resistance, it is premature to get bearish, in fact, it's even uptrending.

The name of the game is buy low sell high not buy high and crap your pants when it pulls back.

Least probable action in an uptrend is full reversal, most probable action after higher highs is a pullback and they come in different colors.

sp500c.png


More money has been lost predicting bear markets than in actual bear markets, just a friendly advice.

Crazy A
More...

Fair enough. SP500 drops significantly below monthly 20SMA, we have a friggin depression on our hand. SP500 bounces off it soon, it's all rosy and uphill from here.

My guess is the former will happen. Remember, SMA is a lagging indicator. A leading "indicator" would be pattern recognition (see my posts elsewhere).

(BTW: You have given me a great idea for an entry point should we go into a full-blown D.!!!)
 
S&P500 head and shoulders target is 1,176

As mentioned for some time - S&P500 monthly chart has been tracking sideways this year.

This extensive distribution signified a bearish big picture and that a significant downtrend would develop.

My long term indicators still warn of a significant USD rally and EURUSD weakness.

stockmarket618.wordpress.com
 
Hard to pin point without the required PA but below 1175 give or take an offset of 30 points that's your low for 2011 based on my analysis.

Crazy A
 
Quote from GrandSupercycle:

S&P500 head and shoulders target is 1,176

As mentioned for some time - S&P500 monthly chart has been tracking sideways this year.

This extensive distribution signified a bearish big picture and that a significant downtrend would develop.

My long term indicators still warn of a significant USD rally and EURUSD weakness.

stockmarket618.wordpress.com
More...



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