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Hi Cobra, Can you please comment on the pull back targets for SPY? Thanks! I think it could go to 142.73, 50% Fib retracement.
It is also the neckline for the 9/13 to 10/23. I maybe wrong because I am new in learning about charts.
Last edited by ellenlin on Mon Jan 07, 2013 1:46 pm, edited 1 time in total.
Q&A: Earlier I said CREE looked OK, but today's gap down changed the picture, it's a small double top now.
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Does anyone here use Point and Figure charts, or the related bullish percent indexes? I have not relied on them (looking at them more often now), but it seems they give good confirmation for trend.
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Charts posted are not recommendations. They are just a sharing of information.
BullBear52x wrote:Bears need to show off power by breaking 145.34 if they mean business.
Agreed!! I'm short from friday looking for 143.40 ish to exit
I will take 80% of the lot off and let the other 20% runs, what if the mid line doesn't hold.
Oh your saying 145.34 and under that the trap door could open? Maybe so but I'm looking for a gap fill es at 1423 and 143.25ish spy... I'll follow you!!
BullBear52x wrote:Bears need to show off power by breaking 145.34 if they mean business.
Agreed!! I'm short from friday looking for 143.40 ish to exit
I will take 80% of the lot off and let the other 20% runs, what if the mid line doesn't hold.
Oh your saying 145.34 and under that the trap door could open? Maybe so but I'm looking for a gap fill es at 1423 and 143.25ish spy... I'll follow you!!
taking profit never hurt, especially during consolidation phase. bears will sleep better if 145.34 is taken out. and gap area is definitely a key zone.
My comments are for entertainment/educational purpose only. NOT a trade advice.
JFR wrote:Bullish Percent Index for the S&P 100 ...
Does anyone here use Point and Figure charts, or the related bullish percent indexes? I have not relied on them (looking at them more often now), but it seems they give good confirmation for trend.
Yes.
They are useful lagging indicators used to confirm trend...
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possible rebound target. bulls need do more than that though.
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JFR wrote:Bullish Percent Index for the S&P 100 ...
Does anyone here use Point and Figure charts, or the related bullish percent indexes? I have not relied on them (looking at them more often now), but it seems they give good confirmation for trend.
Have used them for years and yes they are good for trends and stock researsh.GT
SPY is slowly moving to intraday sell spot, like most of the time all indexes must hit the sell/buy together before a big move. let see what the second mouse will do here, the early bird already done with their break fast.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Q:
If you had moved 4.16 points last week, like XIV did… the biggest weekly bull move in her history… wouldn’t you want a breather?
Of course she’s only 2 years old, but still, that is > 28% in one week, oy
Weekly chart:
(bull divergence but it’s on the WEEKLY)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.