S&P500 chart
- Thread starter NoProblem
- Start date
10 day MA is gonna come in real close here, and it has kept the downtrend "intact" ever since mid June, and back to mid-May if you fudge a bit.
Also interesting to note, that 1205 SPX was a fibonacci 78.6% ratio of the initial 300 point leg down from 1557 to 1257
ie.) 300 x .786 = 236
1441 ( May highs ) - 236 = 1205
Thus, subtracting 236 points from the May counter-trend rally high at 1441 gives you the object of 1205, which was hit yesterday +/- 4.5 pts.
Also interesting to note, the sentiment numbers that came out today are at bear market extremes not seen since Oct. 2002.
Investors Intelligence Bulls: 27.8%
Investors Intelligence Bears: 48.9
Getting bullish for a size-able Bear market rally!
Also interesting to note, that 1205 SPX was a fibonacci 78.6% ratio of the initial 300 point leg down from 1557 to 1257
ie.) 300 x .786 = 236
1441 ( May highs ) - 236 = 1205
Thus, subtracting 236 points from the May counter-trend rally high at 1441 gives you the object of 1205, which was hit yesterday +/- 4.5 pts.
Also interesting to note, the sentiment numbers that came out today are at bear market extremes not seen since Oct. 2002.
Investors Intelligence Bulls: 27.8%
Investors Intelligence Bears: 48.9
Getting bullish for a size-able Bear market rally!
More blah blah blah analysis. Just go long and quit overthinking.
Why dont you check my recent post history and figure it out Sherlock.
