Inverted head and shoulders on the SPX?

sirgiyan · Feb 19, 2009

Just few observations. I'm not convinced by this sell off for few reasons
1) VIX is behaving strangely - it doesn't move up much
2) TRIN does the same as VIX
3) EURO/YEN and DOLLAR/YEN are also telling different story.

So I wouldn't be surprised to see a huge STOCKTRADER rally starting tomorrow and going into next week

Just my 5c

sirgiyan · Feb 19, 2009

BTW Gold has started it's decline as well.

AMT4SWA · Feb 20, 2009

Quote from AMT4SWA:

Nope.....new low at end of day.

Standing by for my next Rydex 200% Inverse S&P 500 scale out target as ES trades through 770.00.........targets after that are at 755.00.......735.00.......and then 715.00

With the trading BELOW 770.00 tonight, I will look to cover another scale out level in my Rydex positions today if we are at or below 770.00 at the cash open.

RESTING inventory down below 750's for the previous yearly low area, so that is like a big MAGNET as price seeks SIZE......we are getting very close now and the Friday cash session could be a wild ride. :eek:

paul_alan · Feb 20, 2009

cant you start a thread for your calls amt4swa so that we can all get rich!

AMT4SWA · Feb 20, 2009

Well I am usually in the ET Chat room each day during the U.S. cash session......fun group in there most days.

AMT4SWA · Feb 20, 2009

Quote from AMT4SWA:

With the trading BELOW 770.00 tonight, I will look to cover another scale out level in my Rydex positions today if we are at or below 770.00 at the cash open.

RESTING inventory down below 750's for the previous yearly low area, so that is like a big MAGNET as price seeks SIZE......we are getting very close now and the Friday cash session could be a wild ride. :eek:

OK.....covering my next Rydex scale out target now at the open as the ES trades 764's

Next scale out target at 755.00

Dogon566 · Feb 20, 2009

Quote from sirgiyan:

Just few observations. I'm not convinced by this sell off for few reasons
1) VIX is behaving strangely - it doesn't move up much
2) TRIN does the same as VIX
3) EURO/YEN and DOLLAR/YEN are also telling different story.

So I wouldn't be surprised to see a huge STOCKTRADER rally starting tomorrow and going into next week

Just my 5c

Very possible sirgiyan..... I chart the $VIX and $TRIN .... today's open is more bullish than bearish...and large trends normally follow a zig-zag pattern moving in one direction up/down. The trading day has only begun and it will be interesting to see how it closes.

Here's some info on the YEN

http://www.projectstreamer.com/users/cb1618/vidfeb20again/vidfeb20again.html

and my $VIX chart

http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&mn=6&dy=0&id=p23129100789

AMT4SWA · Feb 20, 2009

Covered another Rydex scale out as the ES traded through 755.00.........next target will be as ES trades through 735.00

sirgiyan · Feb 20, 2009

Quote from Dogon566:

Very possible sirgiyan..... I chart the $VIX and $TRIN .... today's open is more bullish than bearish...and large trends normally follow a zig-zag pattern moving in one direction up/down. The trading day has only begun and it will be interesting to see how it closes.

Here's some info on the YEN

http://www.projectstreamer.com/users/cb1618/vidfeb20again/vidfeb20again.html

and my $VIX chart

http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&mn=6&dy=0&id=p23129100789

HERE WE ARE

At least so far...

traderyin · Feb 20, 2009

Quote from AMT4SWA:

Covered another Rydex scale out as the ES traded through 755.00.........next target will be as ES trades through 735.00

Not turning bullish anytime soon huh?