SPY making a triple bottom + hammer?

I

IronFist

Is today the bottom?

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I think so. There are major positive divergences. Just about all the indicators show positive divergences.

I'm back long from 866.

PS: This is a temporary bottom. I still think we'll revisit the 2002 lows but not until next year.
 
I agree with the divergence...big time! And not just your RSI, MACD and stuff (which I don't count for much anyway).

More importantly, many asset classes and important indicators didn't make a new lower low today: oil stocks, gold stocks, carry trade pairs, riskier bonds, VIX (far from previous high and clearly breaking down on chart), etc.

Quote from cunparis:

I think so. There are major positive divergences. Just about all the indicators show positive divergences.

I'm back long from 866.

PS: This is a temporary bottom. I still think we'll revisit the 2002 lows but not until next year.
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Quote from MrDODGE:

Go long this rally and get blown out when the GM bailout isn't passed.
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dont need to wait that much.

this market is not for the faint of heart.

a reversal is under way already just a couple of minutes after the so called long term bottom has been established here by the technicians.

hilarious.

:D
 
go long for the next 14 months and do nothing.

buy stocks I recommend like GOOG AAPL RIMM BIDU

dont overthink this market

dont trade in and out
 
Quote from stock_trad3r:dont trade in and out
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That's the thing that has been working like clockwork in this market actually. In and out until it stops working.

Then it's back to trading breakouts out of solid bases.
 
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