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Ya, to be exact OEX 486.5 and approx 1070....look for macd, candle sticks turns around that area. I will be a buyer. But if it breaks that line to the down side, run for hills but I think chances are slim.
I would have shorted the market today..but due to other issues and not feeling entirely well, I let it go.
2bit
The pullback is expected to go to OEX 485ish by Wed/Thur then the buy opps should come in for 911 rally...
2bit
Did anybody short today? It looks like the pullback will be down to OEX 490ish ...may be one or two more days of down..
2bit
Bob & Den,
My targets are derived by using multiple Fib and EW scenarios, but for simplicity sake, you can use the Jap Candle sticks "8 to 10 days high"...that means the high probability for a pullback would be exactly 8-10 days high...compare the last two uptrends.
Bob, don't look back at what you did or didn't do. Every trade is a new poker game. I used to freeze up if I missed the first huge uptick, but that usually means the start of something big, chase it...besides most of the time I only get 70% of the theorectical move...slippage, hesitation, stupidity etc etc
2bit
This is my forecast.
After considerable analyses with back testings to the beginning of this year, I have the following OEX targets: 521, 527, 548 and 557 and with 2 target dates of Oct6 and Oct28 2010. The most probable number would be 527 by Oct6. This does not mean the market will not continue to go up to 557 by Oct28. As a matter of fact, Bradley has an important turn date of Oct25.
Therefore, it means with pullbacks from time to time, the month of September, contrary to a lot of beliefs would be an up month. This will also invalidate all TTheory propositions.
This is also the start of the 8th trade from the beginning of the year, going long/short and holding till it turns. You would have made approx. 16,000 per OEX contract so far.
Coincidentally, it seems the market will be trending up till Nov election.
If you still prefer shorting, it is advisable that you watch the market closely and have fast fingers to close all short trades the same day.
2bit
Out of my shorts with 20% gains. Take over folks, I am done for the day...can't watch the market today...have a great long weekend and will be back Tuesday...
2bit
I am out and turned short, but the underlying is still bullish, there will be a pullback...may be down to OEX 490...ISM services is crappy...be careful about going long now this is the third day..
2bit
As of today, buy on dips folks, buy on dips...
TTheory is wacko again
2bit
You can wait for EM no but I do expect the gap at OEX 490 the first gap to be closed before the market comes down again. It has started a new up trend. The em no. will probably be around 9.6/9.7 and if the market wants to go up it will be ignored. will see
2bit
Two major thrust days on Aug 27 and Sep 1. Would not be surprised to see OEX 510 again.
2bit
Taget reached.
All Calls doubled and out for reentry.
2bit
Bingo.
U've got it. However, they could set us back one way or the other if the market is in between.
2bit
OT : What would you like to do ?
2bit
Today is one of the Major Thrust Days...previous examples are Feb16, Jun10, Jul7 and take a look at what happens to the following days...
2bit
Beer,
I am looking at 10 OEX points to 490ish in about 2/3 days. It may be feasible. By Wednesday if the ADP report is bad, time to flee before Friday. 10 OEX points = approx 200 Dow points. That is why I said "against all odds" but doable.
good luck
2bit
Nasdaq needs a kick, it is the lagger. The only data I am worry about next week is Tuesday's Chicago PMI and Wednesday's ISM, but I guess the market should hold till at least Tuesday FOMC.
2bit
Koon,
Be careful about going back to short so quickly...a solid buy signal is out today...at least let it close the gap at OEX 485 first...
2bit
OT : Great folks everybody OT for non TA stuff, I skipped over 10 posts, save me time and if everybody follows rules then this may the board worth sticking around
2bit
Go OEX GO !!!!!
2bit
This may be a tad early, but the King's Crown is still in play.
We will know by Monday.
2bit
Once again we are witnessing the combined effect of TSBs on SPX, DJI, NDX, IXIC, XLF, RUT, AAPL, GDAXI, FTSE today.....
Lets see if the OEX 485 gap will be closed or not..
2bit
OEX 472/SPX 1040 has very strong support at least for now...
Wonder if Da Boz let the uninformed to sell at this level by a fake out and them clean them up afterwards...Hmmm
2bit
GDP 1.6 vs 1.4 UK also has GDP surprises Futures up...market has a very high probability of turning today...still looking for OEX 485ish
2bit
Today's sentiment value is much like that of Jan28, July2 and Aug16. A 10 point OEX bounce to 485ish is expected soon.
2bit
OEX 490...the market will rally on bad GDP unless it is really bad
2bit
UUP TSS
FXE TSB
2bit
US initial claims down 31K..Time to go long...
FTSE, GDAXI, EURO up
2bit
Renk and Desert,
I like your charts. Though I keep track of TS signals and they are piling up but I do agree there will more sellings ahead, I have not gotten a buy signal yet
2bit
TSB --- SPX, NDX,FTSE,RUT,XOI
TSB+1 --- XLF,DJI,GDAXI,SSEC,AAPL
hilo3sell - HUI,XAU
2bit
I am stuck. Ur right it is at s1.s2 and no way to short. But I made a promise to myself not to play counter trend...just sit and wait now....
2bit
the market will crash today, existing home sales plummeted to -27%
2bit
Desert,
I thought you still have some shorts and I was about to congratulate you. Ya, ur right, regret has no business in this business. Every trade is a new poker game. I will wait till after 10am housing nos to decide what to do...
2bit
Why are you still playing counter trend?
2bit
I still think there may be a pop before the big drop, TSB formations found in SPX, DJI, RUT, GDAXI and AAPL, XLF...I will not do anything tomorrow until after the housing data at 10 am
2bit
Well, I am done for the day, shorted it twice today with 15% gain...going to the gym to sweat it out...tomorrow will be more down..
2bit
You have a very good point, yes we have a TSB for the Dow, but counting back to a rounding top may have diminished it, I don't know...I normally play TS signals when it happens on all indices simultaneously...this time it may not be as strong as other times..
2bit
No, I don't ..get burnt many times..it is not as fair as indexes...
2bit