SPDR S&P 500 (SPY): Foot, The only problem is ur only cou...

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Re: Footquarters post# 38308

Friday, 01/25/2008 9:50:50 PM

Friday, January 25, 2008 9:50:50 PM

Foot,

The only problem is ur only counting the major ones, and discarding the minor ones such as Nov26 and Dec27. This should be one like the Nov26 and Dec27 a minor turn.

Today's retracement is 38% of the rise from the low of Jan22.
There is not enough time to form a W before FOMC. Either it rises until FOMC then sell off, or if it falls again on Monday then another leg down.

Right now the bet is rise till FOMC then sell off.

2bit

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