Inverted head and shoulders on the SPX?

Quote from tradingbug:

thanks.....with no real support zones below this area, will you let some run to see how the market handles yesterdays low?
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Well we did have a rush of buying in the AH session after the GOOG news came out.......someone liked that area 685's and below. :)

Pulled my last 710.00 entries off at 707.50 on the price rebound will look to sell at higher pricing levels possibly later in the day..........712's up to 715's looks good for a shot in that resistance zone.
 
Ok filled new entries at 712.00 and no other positions filled above that level (missed fills at 713.00).....will cover first targets at 709.50......next targets at 707.00 and then at 702.00 to see what we get here as price tests this resistance zone 712's and up. :)
 
Targets at 709.50 were filled and price has rebounded back to the high......Sold 713.00 and 713.50, will place target for all 713.00 entries at 712.00 and then hold all 713.50 covers for a first target at 710.50.....then next target at 708.50......will hold the last 33% of the position for any additional downside move. I will cover all my remaining 712.00 entries at 710.00 :)
 
Pulled last 713.50 sells at 713.00 on the rebound.......have now sold 714.00's and will take covers at 712.00 then 709.50.......the last 33% I will hold and see what we get. :)
 
Quote from stock_trad3r:

nope. target is 730 easily. buy all you can. hold till the close.
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715 is significant resistance imo.

We'll need to hold 707 all afternoon to save up enough power to get over 715.

I feel if 707 breaks decisively, 730 is out of reach for the high of day.

But then again, you never know... some news break could force a lot of short covering.

Stone
 
long term I see 900 within 2 months. The short interest is so high. Traders though they could make effortless money shorting into this mild recession. The media is misleading people to believe things are worse than they really are.
 
Quote from AMT4SWA:

709.50's filled.....have set final targets at 707.00 and 704.00 for the day.......that is enough scalping for one day. :)
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707.00 level filled......last target at 704.00 :)

Also, watch 698's today.....that area needs to hold today imo for this consolidation attempt to having any significance. :)
 
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