Will the S&P go to 1000 or 1200 ?

[fly down]

Quote from volente_00:

1220-1240 by year end on the IHS is what the chart says

And your credentials are?

 

[shortie]

 

[Larson]

Inverse H&S, triple bottom, whatever you want to call it. The Fed's footprint is all over this chart. It would be a stretch to see it go down a fourth time, not saying it cannot happen. Unlikely though. The bear case is getting old.

 

[fly down]

Quote from Larson:

Inverse H&S, triple bottom, whatever you want to call it. The Fed's footprint is all over this chart. It would be a stretch to see it go down a fourth time, not saying it cannot happen. Unlikely though. The bear case is getting old.

I think you are looking at the chart upside down. I see it the exact opposite. And that's what makes technical analysis so great.

 

[ArchStanton]

If the mythical PPT (the big boys using free FED money) really wanted a rally this month, they would pull their support until we're below 1020, then go back to the usual game.

That would satisfy the technical retest. Then they might trigger a real rally to 1200 into the year end with all the cash on the side.

Archy

 

[Nine_Ender]

Quote from fly down:

I think you are looking at the chart upside down. I see it the exact opposite. And that's what makes technical analysis so great.

You can suggest for fundamental reasons you think the market might go down but to suggest that the charts say this is ridiculous. All this does is suggest you lack ability in reading charts. I remember when the S&P last hit around 1040 there was a very noticeable bounce on volume that looked like program trading. Anyone who participated has already made on average 6% while you deny the bounce.

 

[fly down]

Quote from Nine_Ender:

You can suggest for fundamental reasons you think the market might go down but to suggest that the charts say this is ridiculous. All this does is suggest you lack ability in reading charts.

It's your right to have your opinion. I suppose time will tell who is right. I firmly say 1000 before 1200 according to my technical analysis.

 

[fly down]

Quote from ArchStanton:

If the mythical PPT (the big boys using free FED money) really wanted a rally this month, they would pull their support until we're below 1020, then go back to the usual game.

I think it may be out of their control once during this season.

 

[FabTheBear]

How can this be a breakout if we've got so much overhead resistance at 1120ish?

RSI is also very stretched.

 

[Tsing Tao]

I voted 1000 first, but now I'm not so sure. This massive buying despite 18 weeks of equity outflows is making me think it's going up no matter what. Fundamentals no longer matter, technical no longer matter. All that matters is the power of the POMO.