This series of lower highs and lower lows will not continue much longer. Target price is going to be 1430 with any break under 1484. I can only think the SPY will go lower in the days to come and I am very short.
Waterfall selloff coming on the SPY $SPX=1430
- Thread starter michaelscott
- Start date
spooz new highs soon
michael is a putz who never follows up on his picks.
michael is a putz who never follows up on his picks.
I copied this chart from TraderTim's website. This says exactly what I am thinking. The greater amount of times a price tests a certain point and the longer the price stays in a certain range, then the more explosive the outcome will be.
In this case, the SPX has been stuck in this range for over a month and the trend line has been tested twice and going for round 3.
Another indicator is the following:
Goldman Sachs . . . GS . . . . -$5.90 -2.64%
Morgan Stanley . . . MS . . . . -$2.20 -3.03%
Merryll Lynch . . . MER . . . . -$3.02 -3.54%
Lehman Brothers . . LEH . . . -$2.20 -3.03%
Bear Stearns . . . BSC . . . . -$5.93 -4.12%
Amex . . . AXP . . . . . . . . -$2.14 -3.43%
CitiCorp . . . C . . . . . . . . -$0.60 -1.163%
JP Morgan Chase . . JPM . . .-$1.28 -2.62%
Bank of America . . . BAC . . -$0.45 -0.92%
The financials are taking it on the chin lately, not a good sign.
The market is seperating itself. In fact, the following is very telling:
Russell Value 1000- -1.63%
Russell Value 2000- -2.01%
Rusell Mid-Cap Value- -1.55%
Russell 3000 Value- -1.66%
Russell 1000- -1.4%
Russell 2000- -1.85%
Russell Mid-Cap- -1.4%
Russell 3000- -1.44%
Russell Growth 1000- -1.18%
Russell Growth 2000- -1.69%
Russell Growth Mid-Cap- -1.28%
Russell Growth 3000- -1.23%
The pattern emerging is that value is out and growth is in. The SPX is now a value oriented index and will fall. Value stocks tend to fall much more slowly then their growth counterparts.
I maintain my price target on the SPX at 1430 and longer term target of 1130.
On pullbacks, buy mid-cap growth and dump value at every opportunity.
The number of mindless idiots and losing traders in this thread demonstrates to me that my prediction will come true very shortly.
In this case, the SPX has been stuck in this range for over a month and the trend line has been tested twice and going for round 3.
Another indicator is the following:
Goldman Sachs . . . GS . . . . -$5.90 -2.64%
Morgan Stanley . . . MS . . . . -$2.20 -3.03%
Merryll Lynch . . . MER . . . . -$3.02 -3.54%
Lehman Brothers . . LEH . . . -$2.20 -3.03%
Bear Stearns . . . BSC . . . . -$5.93 -4.12%
Amex . . . AXP . . . . . . . . -$2.14 -3.43%
CitiCorp . . . C . . . . . . . . -$0.60 -1.163%
JP Morgan Chase . . JPM . . .-$1.28 -2.62%
Bank of America . . . BAC . . -$0.45 -0.92%
The financials are taking it on the chin lately, not a good sign.
The market is seperating itself. In fact, the following is very telling:
Russell Value 1000- -1.63%
Russell Value 2000- -2.01%
Rusell Mid-Cap Value- -1.55%
Russell 3000 Value- -1.66%
Russell 1000- -1.4%
Russell 2000- -1.85%
Russell Mid-Cap- -1.4%
Russell 3000- -1.44%
Russell Growth 1000- -1.18%
Russell Growth 2000- -1.69%
Russell Growth Mid-Cap- -1.28%
Russell Growth 3000- -1.23%
The pattern emerging is that value is out and growth is in. The SPX is now a value oriented index and will fall. Value stocks tend to fall much more slowly then their growth counterparts.
I maintain my price target on the SPX at 1430 and longer term target of 1130.
On pullbacks, buy mid-cap growth and dump value at every opportunity.
The number of mindless idiots and losing traders in this thread demonstrates to me that my prediction will come true very shortly.
Uh huh...and you made that prediction last time and it broke through and you were gone. I hope you leave for good this time if it breaks.
