SPX- 75% chance of going to 634

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Port1385

That formation on the chart (still forming) is a symetrical triangle with a 75% chance of it breaking to the downside. I know of this formation quite well because BAC was in such formation months ago.

If the price breaks to the downside then the target is 634. If it breaks to the upside, then we get 1250. 75% chance down, 25% chance up.

My P/E earnings calculations suggest that the SPX is fairly valued around 500-600.

Buffett is placing his chips by the 25% section.
 
I am sure Buffet is not going long the broad SPX and I am sure his research dept has down their work on forward earnings and forward PE's etc.
 
Quote from Port1385:

My P/E earnings calculations suggest that the SPX is fairly valued around 500-600.
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The S&P 500's PE is within shouting distance of its long term historical average. You are correct, though, to believe lower lows will eventually happen before there is a sustainable up trend.
 
Quote from Port1385:

My P/E earnings calculations suggest that the SPX is fairly valued around 500-600.
More...

1) That's why it's called the S&P-"500"
2) At a bottom, stocks need to be "undervalued", not "fairly valued". Maybe you're not bearish enough. We'll see. :cool:
 
Quote from Port1385:

That formation on the chart (still forming) is a symetrical triangle with a 75% chance of it breaking to the downside. I know of this formation quite well because BAC was in such formation months ago.

If the price breaks to the downside then the target is 634. If it breaks to the upside, then we get 1250. 75% chance down, 25% chance up.

My P/E earnings calculations suggest that the SPX is fairly valued around 500-600.

Buffett is placing his chips by the 25% section.
More...

lol the charts dont matt
 
Quote from Port1385:

That formation on the chart (still forming) is a symetrical triangle with a 75% chance of it breaking to the downside. I know of this formation quite well because BAC was in such formation months ago.

If the price breaks to the downside then the target is 634. If it breaks to the upside, then we get 1250. 75% chance down, 25% chance up.

My P/E earnings calculations suggest that the SPX is fairly valued around 500-600.

Buffett is placing his chips by the 25% section.
More...

it's a BS that chart stuff
 
Quote from Port1385:

That formation on the chart (still forming) is a symetrical triangle with a 75% chance of it breaking to the downside. I know of this formation quite well because BAC was in such formation months ago.

If the price breaks to the downside then the target is 634. If it breaks to the upside, then we get 1250. 75% chance down, 25% chance up.

My P/E earnings calculations suggest that the SPX is fairly valued around 500-600.

Buffett is placing his chips by the 25% section.
More...
werent you like a raging bull a while back?
 
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