Technical case for the top being in?

[indahook]

okay. dead it is...

 

[swtrader]

20 month SPX moving average is 1054 -still hasnt made a monthly close above it

just 16 points below, and the $USD and VIX seem like they're bottoming

this thesis that it would not close above the 20 month moving average may end up being right after all, if impossible to play it, ie the nastiest play of the 20 month since fall of 1998


beginning of this thread 9/17/09

<img src = "http://www.elitetrader.com/vb/attachment.php?s=&postid=2578747">

now

<img src = "http://www.elitetrader.com/vb/attachment.php?s=&postid=2618291">

 

[swtrader]

2 days and 6 points to go for the spx 20 month close

 

[swtrader]

low today within a point of it

 

[swtrader]

now 4 points below

looks like the 20 month is going to hold after all, if doing it in the most gut busting manner possible

 

[ammo]

tl supp 1050

 

[swtrader]

looks like it's going to come in under the spx 20 month, for the 2nd month in a row

 

[swtrader]

looks like the 20 month is holding

although a heck of an implementation of it

i still think it's a good guide for long term investors to hedge


<img src = "http://www.elitetrader.com/vb/attachment.php?s=&postid=2623371">

 

[opuschild]

swtrader ... couldn't agree with you more! TA is working.

This monthly resistance has been stopping the bulls. If November can't beat this resistance, we are entering into a down leg.

Even without the 20 MA, we are hitting against resistance via a trendline

the last minute of this video goes over what I'm talking about ...

http://www.freetradingvideos.com/vlog/default.asp?Display=1470#Comments