October 3, 2010

SPY Weekend update

  • SPY daily chart is showing a bullish moving average crossover. 20 has gone above 200 DMA.
  • Last week closing was above 61.8% Fib level . Trading above this level will increase the chances of going up to 78.6% level(117).

1 comment:

  1. The latest bear Crushing Ramp Job is actually steeper with less pullbacks than the March 2009, climb out of the bottom. See Chart.

    And this Summation index chart lifted from Breakpoint Trades shows a very strange effect starting Sept 2010....a complete wipe out of the cycle that has been so consistent.

    Finally, OMG! An update from TOS on the same Weekend as an Elliot Wave Financial Forecast. What madness drives this market now?

    http://oahutrading.blogspot.com/2010/10/rate-of-ramp-and-fear-factor.html
    This indicator (another Fear Factor) TNX has predicted market declines well in the near past. Will the real triangle please stand up. could be bouncing here, for an October run up. My thoughts...3% more frog boil, into the full moon.

    The Fear Factor, deeply conflicted, at support for courage (aka foolhardiness)

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