SPDR S&P 500 (SPY): Yeah, I definitely see the downtrend cha...

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Re: GLENO34 post# 58422

Wednesday, 08/27/2008 4:27:04 PM

Wednesday, August 27, 2008 4:27:04 PM

Yeah, I definitely see the downtrend channel on the 30 and 60min chart. But, the C+H pattern on the daily $NDX is still possible so long as we do not go below $NDX 1867. Below that line all bets are off and we will most likely retest the July lows. I am still in cash so I will wait and be patient this time in order to see which way we break.

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