S&P has topped for 2006

[Maverick74]

Quote from Danulous:

Should I circle the misspelled word in that sentence? :eek:

Cut him some slack, he is an Italian, not an American.

 

[romik]

Quote from stock_trad3r:

You can't use TA on indexes like the S&P500.

The S&P is driven by fundementals more than technicals. So all your double tops and other TA crap dont work on it. Even with so called bad tehcnicals it keeps going higher as the US economy grows and companies generate more revenues and profits. The S&P should atleast outpace the going interest rate.

Can you prove that it doesn't work?

 

[S2007S]

nasdaq up 20 dow up 80, im sure by 2:30pm++ they will put the nasdaq up 24 and dow up 100....

 

[Danulous]

you're sure huh, lol:eek:

 

[thorn]

Quote from stock_trad3r:

You can't use TA on indexes like the S&P500.

The S&P is driven by fundementals more than technicals. So all your double tops and other TA crap dont work on it.

This is totally ridiculous. The success of my entire career has been thru use of TA. If TA didn't work, I wouldn't have made double digit profits for 11 straight years. I don't use TA exclusively, but my decision making always starts with it. And the following call made today is pure TA:

Quote from thorn:

i'm looking for the s&p to slow up right around 1390, and create a double top formation. and irrespective of the maggots who will come out if the s&p hits 1391, i'm looking for the s&p to stop rallying around 1390, and create a double top pattern. If it keeps rallying over 1400, i'm wrong.

 

[Pa(b)st Prime]

Quote from thorn:

This is totally ridiculous. The success of my entire career has been thru use of TA. If TA didn't work, I wouldn't have made double digit profits for 11 straight years. I don't use TA exclusively, but my decision making always starts with it. And the following call made today is pure TA:

Another great call, bro.

 

[thorn]

Quote from Pa(b)st Prime:

Another great call, bro.

Thank you very much Pabst. Since there is always a shortage of people on this site willing to acknowledge good calls, your acknowledgement is quite meaningful to me. And I made that call today when the s&p was hovering around 1387-1388.

Again, looking for the s&p to stall around 1390, and put a double top formation in place. It may get as high as 1388-1389, which it did today, or it could go a few points over 1390. Either way, we all know what a double top looks like.

 

[volente_00]

You got lucky today, but we are still up 18 points since your impressive call. I think you are a tad early but with those 20-50 point stops that you use you should make out like a bandit when we run to 1410.

 

[thorn]

wed. futures -5. thorn is laughing all the way to the bank.

yea, double tops and TA aren't relevant.

 

[DeepFried]

Dems win - bull market is toast.