Strong bounce today

[john12]

pabst is right everywere i look all are saying buy buy buy. i've yet to here anyone on cnbc say sell it all. till that happens we go lower over time

 

[S2007S]

I think the markets are ready to see Feb/March 2007 lows within the next 4-8 weeks.

 

[dtrader98]

Watching this congestion zone (20 day intraday) like a hawk. If they can hold this range, there is potential for a squeeze. Otherwise, there is going to be some major technical damage done.

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=1568621" border="0" alt=""><br /></font></p></font></p></font></p>

 

[Trendytrader]

Looks to have dropped under the support trend line already? i'm looking at the 200 SMA on the DOW....not that far away.

 

[just21]

Look at the may/june/july 2006 decline. Market rallied back to 20 day ma before falling to new lows then rallied into options expiration. Options expiration is this friday, similar pattern ihmo.

 

[just21]

Mar 2007 3 days before option expiration is the bottom. Today is 3 days before august expiration.

 

[tcosync]

Quote from sobemark:

1360-1375 ... thats where we are going . feb crisis low ....

Oct would be a nice time for that, wouldn't it?

 

[just21]

Oct 2005, 3 days before option expiration market rallies, options expire above the low of three days previously.

 

[Bogan7]

hate to spoil your party but it has been a pretty strong rally so far this moring though a bit early

 

[Pa(b)st Prime]

What a close call. If SPX had printed anywhere on a 1519 handle I was history.