today's a key day!

[SethArb]

tony ... I do not see any incredible rally like the one late last yr ....

whats your best case / worst case for the SP500
into dec 31 st?

 

[gharghur2]

Quote from SethArb:

tony ... I do not see any incredible rally like the one late last yr ....

whats your best case / worst case for the SP500
into dec 31 st?

Hi seth,

No I don't see a 2004 scenario, that's done and gone, only one to a customer in a bull market.

Worse case? I'd say a retest of the April lows, but that's highly unlikely...1190 is much more likely, worse case maybe 1180.

Best case? we put in a bottom this week, and rally right into January...can see 20+% gain

Based on my technicals, the risk/reward here is very good...

 

[gharghur2]

Quote from CharlesTrader:

Well, you now have me wanting to look at this Value Area thing in more detail.

The High Volume Buying Range of 1217.5 to 1214.75 occurred over a three day period. That is a lot of buying volume. Lots of support!

The High Volume Selling Zone between 1227.75 to 1225.75 occurred over just one day. Resistance, but not as strong as the buying range.

It will be interesting to see if the market takes the path of least resistance to the upside or just wiggle waggles between 1227.75 and 1214.75.

Charles

Charles!

It's a good day to put this indicator to the test?
We'll likely open in the upper end of your resistance range
Let's see how it develops!

Tony