Replies to post #146593 on ajtj99's Market Pulse

[gloe]

I have a sign on my computer: Expect the obvious! Buy support; sell resistance.

Of course, I am, like Jerry O, a daytrader. :-)

Now here, SPX double bottom at yesterday's low -- good for at least a little scalp I'd say.

[Must Be Patient]

I think of TA as self-fulfilling prophesy as people position themselves in the expectation of the TA being right. From that perspective, it would make sense for the market rally to fall just short of the actual 200-dma as people start taking profits a bit ahead of the crowd.

Also of note is that NDX is testing its 200-dma from above today.