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Registered User
Joined: 3/16/2006
Posts: 2,214
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Registered User
Joined: 1/28/2005
Posts: 6,049
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I wont tell you the market cant go down but the indicators
were saying the same thing at 9630.2 in late Aug.
The first indication "its different this time" would be a break
of your red mav (55) since it hasn't happened yet.
(its been support in this up-trend)
Thanks
diceman
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Am I the only one that finds the title of this post funny when viewed in the context of that chart with prices rising from left to right?
If you're after the top, good luck to you. It has to come some time, right? I guess we have to assess how much one stands to loose trying to call the top vs. how much they stand to gain by getting in at the exact top once it comes.
Could be a good trade. Not sure...
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Registered User
Joined: 6/6/2005
Posts: 1,157
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...and also, how much ones stands to lose in missed opportunity convincing themselves the top is already in when the market keeps rising. these are all opportunity costs one has to consider. If you're trading a method that takes all of these things into account and you've decided it's worth it, who am i to say differently?
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Registered User
Joined: 7/1/2008
Posts: 889
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Look at past market recoveries...playing countertrend is not a wise choice. The 2003 rally didn't see a 10% correction until 2007.
If this market is going to break down, it is first going to breach the 50sma, then rally back up to it, and then fail, and then roll over again.
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Registered User
Joined: 7/1/2008
Posts: 889
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Demark propulsion suggests a near term target of 1130.
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Registered User
Joined: 1/30/2009
Posts: 267
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Dow futures down almost 260 now at 1:15am EST Friday after Thanksgiving. May have something to do with Dubai.
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Registered User
Joined: 1/30/2009
Posts: 267
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Dollar down also.
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Registered User
Joined: 2/5/2006
Posts: 1,148
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signaltap calls the top. lol.
dubai sinking.
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Registered User
Joined: 1/30/2009
Posts: 267
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Looks to be a very interesting 1/2 day of trading. Now the Dow futures are down almost 300 and S$P down almost 39. Maybe high volume for a normally low volume day.
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Registered User
Joined: 3/16/2006
Posts: 2,214
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Registered User
Joined: 3/16/2006
Posts: 2,214
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Registered User
Joined: 1/28/2006
Posts: 291
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Daily Indu Point and Figure now showing top unless it can break above 10560. SPX not confirming yet.
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