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looks like a tough resistance to me according to your chart since there's a green line resistance there.uempel wrote:Watch DMA 377 at 1211.20. If it get's broken SPX is a buy, if SPX stays below this MA is only resistance...
do u think we will fill the gap above the 125 area? 123-125 is my target area... And im skeptical that we will rally that far.... though ive been holding UPRO for quite a few days now....BullBear52x wrote:next Gap area 125
Dow Utilities is really strong as well. Signals to me that it's a "stock picker's market" at the moment. AAPL is easy example. Wasn't hit nearly as hard as market and will likely take out it's all-time highs soon. For DJ-15 people want yield, way better there than in bonds right now. You have solid earnings vs. macro-economic concerns and really history proves the market cares more about the earnings...hence why the stock market tops so late heading into recessions.heavenskrow wrote:Hi Cobra, 1st post here! Been slowly observing your intraday thread and finally registered!
U seem legit!
Anyways, have some of u guys noticed that some indicies have closed back above their H+S neckline already? Look at the AMEX Composite or Nasdaq 100, S&P500 O-Strip charts.... They closed 2 days above it!
What do u guys make of that?