Here is the 2003 chart
Chart Of SP500 In 2003 Chart SP500 5-09
- Thread starter Roman Candle
- Start date
SP 500 May 2009 same trendline all the back to 2003.
I saw on some thread someone talking about SP500 940. That sure is an important area.
If you study the range probabilities for this coming week, the 940 area is very important.
In other words, if the ADR of ES is say 22 and the AR of a week is say 50, how do you cram 110 handles of daily [5@22] range into a 50 handle weekly average range? The net range extension is what I look for to model the week and month....for this week coming the the probability to the upside would be in the 940's.
RomanCandle, not to detract from your idea of what's going to happen - but the two charts look nothing the same to me. They're both bottoms, but as you can see what is happening now is far steeper (more "bounce"-looking" than 2003.
Having said that, I would absolutely not be surprised if the rally continues - even though it's pretty easy to make a case for it to be fake based upon fundamentals. As the saying goes: "The market can stay irrational longer than you can stay solvent".
Having said that, I would absolutely not be surprised if the rally continues - even though it's pretty easy to make a case for it to be fake based upon fundamentals. As the saying goes: "The market can stay irrational longer than you can stay solvent".