Will the S&P go to 1000 or 1200 ?

will the S&P hit 1000 or 1200 first?

  • 1000

    Votes: 60 39.0%
  • 1200

    Votes: 80 51.9%
  • I cannot give an answer at this time

    Votes: 14 9.1%

  • Total voters
    154
Quote from fly down:

Volume shrinking up is always a factor when markets form tops.

It's my guess that the S&P will, at best, only make it back to the April highs. If the S&P can do that, it will form a massive double top. I am also looking for it maybe to fail somewhat below the April highs, in which case it could be a right shoulder.

Either way there's very little upside ahead. And there appears to be major downsdie possibilities for those who are a tad more patient.

Take a look at the weekly spy. Once we reach the 121x level...
 

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I never gave any real credibility to the DJIA, but that is a double top there at 11,250 now. A perfect double top between April and now.

I always gave the most crediblity to the S&P, which is why I was looking for a double top in this index at 1220. But maybe the DJIA pattern is real.
 
Quote from fly down:

I never gave any real credibility to the DJIA, but that is a double top there at 11,250 now. A perfect double top between April and now.

I always gave the most crediblity to the S&P, which is why I was looking for a double top in this index at 1220. But maybe the DJIA pattern is real.



It looks like this market is going to run even more if 1220 is the double top for the SPX, many are anticipating 1250 on the spx by the end of 2010, even as high as 1300. I don't know what happens after this initial break out and where the charts lead, but it looks like they will race the SPX back to 2007 highs by mid to late 2011. It seems nothing is going to stop this market from moving higher, day after day this market moves higher as if it only knows one direction. QE2 and plenty of stimulus is just going to keep the rally intact probably for another 2 years.
 
Quote from fly down:

I never gave any real credibility to the DJIA, but that is a double top there at 11,250 now. A perfect double top between April and now.

I always gave the most crediblity to the S&P, which is why I was looking for a double top in this index at 1220. But maybe the DJIA pattern is real.

Everytime price comes back to retest resistance, at the precise moment it's doing so, it looks like a double top, most of the time the resistance is taken out but before it happens it traps people into thinking it's a double top. The same thing is valid for support and double bottoms.

Truth is you can't really tell its a double until after the fact.

ESD
 
Quote from ES.Dreamer:

Everytime price comes back to retest resistance, at the precise moment it's doing so, it looks like a double top, most of the time the resistance is taken out but before it happens it traps people into thinking it's a double top. The same thing is valid for support and double bottoms.

Truth is you can't really tell its a double until after the fact.

ESD
This is true.
 
Cramer always starting his show off bashing the bears, anytime the market sells off he tells the bulls not to run scared and when the market is up he says how bears have no clue what they are talking about.


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Quote from S2007S:

Looks like another up day tomorrow!!!!


S&P FUT
1185.0 2.2 +0.19%
DOW FUT
11142.0 18.0 +0.16%
NAS FUT
2124.0 8.0 +0.38%
This did not turn out to be the case.

Please oon't post every little thought you may have on this thread. Thanks.
 
Quote from fly down:

I never gave any real credibility to the DJIA, but that is a double top there at 11,250 now. A perfect double top between April and now.

I always gave the most crediblity to the S&P, which is why I was looking for a double top in this index at 1220. But maybe the DJIA pattern is real.
After all these years, it's time for me to follow the DJIA chart and give it the credibility it may deserve.
 
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