DId I just nail the fourth higher short term bottom on the S&P yesterday ?

Did i just nail the fourth higher short term bottom on the S&P yesterday ?

  • You know it V, see you at 1330!

    Votes: 10 45.5%

  • you were just lucky on the 3 other calls, we are heading to 1250!

    Votes: 12 54.5%
  • Total voters
    22
V

volente_00

Quote from volente_00:

We are just testing the previous resistance at 1295 that should now become support. I do not see the breakout from the inverted H&S failing at the moment.

http://finance.yahoo.com/q/bc?s=^GSPC&t=3m&l=on&z=m&q=l&c=


funny how we went from 1255 to 1295,

Then from 1270 to 1310.


Next higher high should be around 1330-1335.





Option interest indicates bears will have trouble getting us under 1290 with a move to 1330 possible in the next month.
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You should have a 3rd choice in your poll. That's why you get so few votes. Both choices stink, and are not well thought out.
 
Quote from FredBloggs:



konsistency is king
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Sounds like you got the main probabilities right,Volente.

And when YHOO called that a ''basic chart''
they rightly named it
:cool:
 
difficult not to be a bull in this mkt, no q 'bout it.
even the most calloused perma-bears are now showin' first signs of mindset change.

yesss!
 
Quote from murray t turtle:

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Sounds like you got the main probabilities right,Volente.

And when YHOO called that a ''basic chart''
they rightly named it
:cool:
More...


Now for some reason when I try to post from stockcharts it always shows the same dow chart, so I just posted the yahoo one.
 
Quote from volente_00:

Still bouncing off of 1295.

Still have not closed under 1290.


:)
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I too like 1330 on the S&P. Do you think that this will create a long term range between 1290 and 1330? I thought we would hit 1330 before last year was out, but we couldn't push through. Following was when I initially thought we would reach 1330. I also thought we would see oil start dropping back down to $50.00 a barrell. Do you have any opinion on oil especially with Chavez talking about fixed pricing?

http://www.elitetrader.com/vb/showthread.php?s=&postid=907849#post907849
 
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