Thursday, July 19, 2012 11:53:27 PM
additional comments
DowDeva
Thank you for your kind words!
QE3 hype anchors market’s bullishness. Hard to perceive the outcome.
From a technical view, both the 1389.07 and 1381.05 are important pivots to watch. the former one is the 0.786 retracement between recent high 1422.38 and recent low 1266.74, the latter one is the 0.786 retracement between all time high 1576.09 and all time low 666.79. I have an impression that 0.786 is a good gauge and can be applied for the current condition. Now, the 0.707 retracement between October low 1074.77 and the unrealized high 1440-1443.88 is 1333-1334. so, if index can surmount 1381.05-1389.07, the odd to see 1440 is increasing. A pullback but can hold above 1333-1334, there is good odd to see 1400-1403.
IMHO, Even if Fed launches QE3, after an initial spike up, it will be sold hard. Monetary policy is not omnipotent, and Bernanke knows it, therefore, investors acknowledge it too, they will treat QE3 as the last chance to escape. Let's see what will happen near the coming September Equinox.
Feb 17 2012, 01:43 AM
After the tangential movement above the inflection zone 1334-1342 for 6 trading days, Index ascends to a juncture that either it will turn down before breaching 1376.55 or pave the road to a more bullish route (1376.55 -->1342-->1443.88).
comments: déjà Vu
Feb 17 2012, 01:43 AM
By reviewing the 0.236/0.382/0.616 retracements for layer 4,5,6 in the following chart. It is very clear that 1292.66, 1267.06, 1381.50 are critical check points. It has to ‘grow’ higher so that the 0.618 pullback will not be lower than 1292.66 & 1267.06.
comments: on 06/04 index breached 1266.74 then reversed, himmm
DowDeva
Thank you for your kind words!
QE3 hype anchors market’s bullishness. Hard to perceive the outcome.
From a technical view, both the 1389.07 and 1381.05 are important pivots to watch. the former one is the 0.786 retracement between recent high 1422.38 and recent low 1266.74, the latter one is the 0.786 retracement between all time high 1576.09 and all time low 666.79. I have an impression that 0.786 is a good gauge and can be applied for the current condition. Now, the 0.707 retracement between October low 1074.77 and the unrealized high 1440-1443.88 is 1333-1334. so, if index can surmount 1381.05-1389.07, the odd to see 1440 is increasing. A pullback but can hold above 1333-1334, there is good odd to see 1400-1403.
IMHO, Even if Fed launches QE3, after an initial spike up, it will be sold hard. Monetary policy is not omnipotent, and Bernanke knows it, therefore, investors acknowledge it too, they will treat QE3 as the last chance to escape. Let's see what will happen near the coming September Equinox.
Feb 17 2012, 01:43 AM
After the tangential movement above the inflection zone 1334-1342 for 6 trading days, Index ascends to a juncture that either it will turn down before breaching 1376.55 or pave the road to a more bullish route (1376.55 -->1342-->1443.88).
comments: déjà Vu
Feb 17 2012, 01:43 AM
By reviewing the 0.236/0.382/0.616 retracements for layer 4,5,6 in the following chart. It is very clear that 1292.66, 1267.06, 1381.50 are critical check points. It has to ‘grow’ higher so that the 0.618 pullback will not be lower than 1292.66 & 1267.06.
comments: on 06/04 index breached 1266.74 then reversed, himmm
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