SPDR S&P 500 (SPY): Cool chart Foot. It looks like an H&S s...

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learningboutinv

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learningboutinv

Re: Footquarters post# 21234

Saturday, 08/04/2007 10:53:29 PM

Saturday, August 04, 2007 10:53:29 PM

Cool chart Foot. It looks like an H&S starting from last July 06 and with the recent backtest to 1969 and failure. If it truely is an H&S/bear market there's huge gaps to fill. 2060 High - 1912 = 148, take the neckline at 1912 - 148 = 1764 which should cover all three gaps.

But that makes things too easy I guess. I'm still waiting to see what happens at the 200ma. (Whether it's a bounce off the 200ma or whether we breakdown.) Closed my QIDs and SDSs on August 1 and am in cash right now.

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