Significance to S&P 1115.1 ?

[volente_00]

WUZUP blowshan



1115 is significant for sure


We went 70 under it and now the market will go 70 above it sometime this year.

 

[Ivanovich]

So much for that resistance level. Just blown out of the water. I'm telling ya, buy everything.

 

[woody anderson]

Quote from Ivanovich:

So much for that resistance level. Just blown out of the water. I'm telling ya, buy everything.

No Ivanovich, this did not happen. Your post was way premature and could almost be construed as a "flame attempt".

To the contrary, this resistance is alive and well at this moment and still looking pretty good.

 

[Ivanovich]

It's not a flame attempt, Rowschan. It's just a comment. Deep breath.

 

[ess1096]

Quote from ess1096:


On 1/04/10 the S&P opened for the year at 1116.56....................
................. Just draw horizontal lines on your charts using these numbers and you'll see they are significant.

selloff stalled at 1116.57

yesterday's low 1116.51

significant?

A close below could bring another leg down.

 

[woody anderson]

Quote from ess1096:

selloff stalled at 1116.57

yesterday's low 1116.51

significant?

A close below could bring another leg down.

Close below coming by the end of the week ?

 

[Petsamo]

Quote from ess1096:

selloff stalled at 1116.57

yesterday's low 1116.51 significant?

Isn't this a double bottom? Doesn't this mean we rally from here?

 

[coolweb]

chopping around the open price of the year means nothing..
it will go up/ stall / then go up/ go down a little/ then go up a lot

probably price action:
thursday -0.50% red
friday +0.20% green

Next Monday +0.70% green
Next Tuesday +1.0% green



ok
1115.1? not in the picture.
--------------

The important question is: what is the big picture of price telling you.
Would price rise to (open of the year) and flutter its arms and do a drastic sell down? -not probable

 

[Ivanovich]

Quote from coolweb:

chopping around the open price of the year means nothing..
it will go up/ stall / then go up/ go down a little/ then go up a lot

probably price action:
thursday -0.50% red
friday +0.20% green

Next Monday +0.70% green
Next Tuesday +1.0% green



ok
1115.1? not in the picture.
--------------

The important question is: what is the big picture of price telling you.
Would price rise to (open of the year) and flutter its arms and do a drastic sell down? -not probable

+1

 

[woody anderson]

Quote from Petsamo:

Isn't this a double bottom? Doesn't this mean we rally from here?

There's always the option to turn the chart upside down and see the exact opposite formation.