Replies to post #18743 on T/A ETF AND INDEX

[northam43]

No, today there was confirmed EMA 3/8 bullish crossings on the Daily SPX & QQQQ chart. Also the PPO (3,8,4) on the SPX Daily is attempting a bullish crossing. The last one occured September 4th and lasted 11 trading days (of course I'm not saying the same thing will happen here). So until the ST indicators turn bearish we could possibly see SPX 1093 in the near future.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40101910

[MONGO]

YOU GO FIRST

[stkboy1]

Is the IT top in at 1080?

No.
I think this has been the fifth time since July that you have called the move down as a i of iii and a ii of iii and the next move was going to be a iii of iii down.
I understand your eagerness as it doesn't make any sense for the market to move up but we have to have some market negative news that they also spin in a negative way and we have to have a five way impulsive move down to get the bulls scared and not a buy the dip opportunity.
We have a bullish engulfing candle with negative divergence. I think the iv was Friday and we are now in the v and the next high is the high....IMO

[capt_jmj]

No, not until the Fed starts unwinding their balance sheet and lending facilities, and they have said that won't happen until ~ Dec at the earliest, and then only if the markets and the economy are not in danger of collapsing, in their learned opinions (i.e. they have sucked enough dumb money back in to keep the markets afloat). You will admit yourself that the markets are all about perceptions and not reality, so enough investors/traders simply have to *believe* that Bennie has their backs and the market will grind higher, with only an occasional tradable pullback.

FYI, last week the SP500 P/C Options volume for Dec was running ~ 40:1...

[thespookyone]

No. I think the top lies between 1086-1095. I'm viewing this, so far, as a possible ending diagonal A trip down to 1035 or so followed by a rally would confirm this for me. I want to see the internals more divergent at the top, with corresponding EXTRA froth in the NAZ garbage. JMHO. of course.