Mon & Tues point toward a rebound
863.19 on Dec 23 = 34 tr days from
Nov 4th High to Low
Hi to low dif = 68.61
68.61 X 62% = 42.54 - 931.80 = 889.26 hit at or
near close Friday
42.54 loss = Possible rebound highs
X 50% = 21.27 = spx 910.53
X 62 % = 26.38 = spx 915.64
X 78.6% = 33.44 = spx 922.70
STill got RADAR on the 16th IMPORTANT LOW
38 tr days from Nov 20 a typical LOW to LOW,
16th Also has:
78.6%/13 day @ 11:55
204 bar cycle LOW @ noon
NEXT week the spx should break under
890 to retest DEC lows at 863.19
From a HIGH of potential at 922 down to 863
= dow about 500 pts to 8400/8500 area
SOME are expecting A MUCH MORE serious decline
as many did in DEC 2008
Remember I warned several times not to
side with the WRONG CROWD
In fact I wrote that after Dec 15th , you can be as bullish as you want,
and buy anything that has take a hard hit.
Please DO NOT SUCCUMB to the NEGATIVE VIBES that
these people are subjecting their readers, and or
subscribers with such a heavy load
Dec held 8400, and more is coming the week of
20th to 26th, And it may be one of the best rallies of the year
Negative Sentiment should build into the
16th as per the LOWS on Jan 16.
More later
Jay
3 comments:
Yup. I think mid-end February may be the best buying opportunity for the next 6 months.
Can't handle this huge rebound. ya ok in reality I'll give anyone credit that sticks their neck out in this sideways mess.
Looking for a S/t low soon or by mid week to top out late this week or early next.
I am expecting a low in the middle of this week and will start closing long positions between 21-23.
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