SPDR S&P 500 Message Board
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You people want to see something potentially scary? Check out the S&P500 chart on Yahoo, click
interactive and proceed to the max chart. Unless I am wrong, there is a triple top forming. First Jan of 2000 at 1500, then July 2007 at 1527 and right now at 1513...both 2000 and 2007 ended dropping to around 800. I am not a technical analyst, but could another full blown correction occur like the previous two and drive the S&P down to...dare I say it....800 again? Just curious what the board thinks....thanks for any feedback....
GO San Francisco-
trouble is, the markets around the world are so centrally planned now with primary dealers and hedge funds playing along to the demented pied pipers at the central banks with very little retail
so i dont know that charts matter anymore -
Triple top would work some times especially if retail traders don't know. There are many retail traders like you that know about it as I have known for the last 2 years or more.
If it rips through the triple top, S&P will double from where it is and so will DOW. We may enter a period of inflation where everything including stocks become expensive and therefore, stock prices will rise and sky rocket. That's why some analysts are predicting DOW to 55,000.
Look at Greek stock market, they said, it has quadrupled in worst economic conditions known to any modern country.
But I am shor! because I am always shorty pants and I am always wrong!- 2 Replies to wanttobeamillionairefromstocks
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55,000...holy cow...maybe even poor old Apple can gain back some of its lost charm at that price....AAAHHH....not likely! LOL
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471 to 1029 is a quadruple for the $ATG? Still down 50% from its prior highs. The New Errarist Math is going to be quite costly.
Sentiment: Strong Sell
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Looks more like a head and shoulders that was 12 years in the making
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$SPX topped out in March-2000 at 1550 and then in October-2007 at 1579.
Sentiment: Strong Sell
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The first was due to the dotcom bust, the second of course was the financial meltdown....could the third if it occurs be due to the 16.5 trillion dollar and rising debt?
- 1 Reply to blackmonday1987
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The reversion to mean can drag this to 500 in 2 years
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