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Strategies & Market Trends : Humble1 and Swing Trading Friends
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To: robert b furman who wrote (6435)9/6/2011 11:02:23 AM
From: Z-M-L  Read Replies (2) of 41172
 
Since completing the three wave A-B-C move from the August 9th low, a lot of technical stuff indicate we move lower:

1) The 1231 resistance is formidable since it is the 62% retracement of the 910-point decline from October 2007 to march of 2009.
2) 1230 was also the 50% retracement of the decline from 1356 to 1102.
3) On Friday, September 2nd, the Gap Down open formed an Island Reversal from the Gap Up open on Monday, August 29th in the NDX.
4) Last week we had a Gravestone Doji formed (after a rally) on the WEEKLY SPX.
5) If we close negative today, we will have Three Black Crows.
6) A 5/10-day MA Bearish Cross should again emerge tomorrow.
7) Dr.Copper heading down again.

and more:

8) Daily Full Stochs on Bearish Cross.
9) Daily MACD about to have a Bearish Cross.

So everything I am seeing points to new lows below 1102 in the coming weeks.

Just sharing what I see.

Z-M-L
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