ajtj99's Market Pulse

[teaparty]

The bull and the bear....there could be a triangle still...but I'm not going to force one...charts below..
Best to be neutral here and have an open mind...make sure that if you are bearish here...have a good reason...and make sure you aren't bearish because in the back of your mind you want to buy another low and you are afraid that you've missed a good bottom.
Been there...done that....Wishing for another low after a good move can screw with your head....if a good low is in..there is plenty of time to take advantage...I'm not saying we can't go lower...just give yourself an honesty shake and make sure your stubbornness doesn't play a roll in decision making..


http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=3&i=p84548124339&a=81733073&r=4367

1010 area and Friday's high are key...the 200 Hourly SMA on spx is also at the 1010 mark...along with that TL shown on this daily that has many hits. I think if we find ourselves above 1010 at any point and it's used for support....we might have a decent bottom in...conversely ..if we hit a C=A target in the 1050 area and move back below 1010....that ABC is probably correct. Sorry for the ramble

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&st=1994-07-28&i=p73099456061&a=142133285&r=7406