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SPDR S&P 500 ETF Message Board

  • thespyisfalling thespyisfalling Aug 6, 2010 11:34 AM Flag

    2009 highs seem to have failed

    so now let's look at the 2009 close as a possible failure.

    2009 high 1117.50
    2009 close 1101.75

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    • This debacle is now just beginning. We will hit 1067.50.

      Open gap on day session chart. Not today. But soon enough.

      The longs are just full of crap. And yesterday was the last straw.

      They will try to do a rally for the elections.

    • They will take it back to half back if not above .Did you cover in panic ? Ten handles + moves are unusual.We could see below 1101 to take out stops and will fill gap from Friday but bulls must keep it over 1101 close ,they have a lot of stock to try to unload now

      • 1 Reply to maloneksm
      • I will not start holding shorts over night until I see the proper sell signal.

        The 50 day sma death cross stuff really did not convince me that there was not some juice left to the market per my posts.

        I had said 1127's more than once as a target.

        The big sell signal for me will be when the 26 week sma has crossed the 39 week sma. It will still bounce back up and when the 26 and 39 have busted the 52 week, it's over until the next massive wash out.

        Those averages mean more to me than anything on the daily chart. The 200 day sma to me is a bull $hit line anyway. The 52 week sma imo is the most important average there is.

        1098.25, 1083.50 1081.75....the real support with an air pocket to 1050.75 and then 1002.75. Those are the BIG numbers. For now.

213.74-0.15(-0.07%)Oct 26 8:00 PMEDT