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Strategies & Market Trends : Humble1 and Swing Trading Friends
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To: humble1 who wrote (9941)1/17/2013 5:41:03 PM
From: Fintas  Read Replies (1) of 41060
 
I've been on a buy since spx 810.

What will happen if 1486 is hit and held is that the lower numbers become less possible while the longer trends stay in place.

So that would rule out a 1270 and maybe the 1296 depending on how high we move.

Here and now that spx 1305/1324/1350 looks doable once we decide if 1486/1512/1540 get hit. It would take a 1620 for me to give up on a 1305/1324/1350.

And give me one awe chit re some unknown event and the fluidity of it all changes

Finally with many indicators continuing to add a point here or there re bell curve sectors and their 7 other indicators although the spx can thrust here I don't see how it continues without some selling in certain sectors. I don't know what the catalyst will be. I just know the numbles are too high for many a sector.

On an aside for I rarely mention weekly distribution and etf's. Most of them are also showing RED which means overbought. Many are in the 60-80. Only a couple are in the 25-30 area or under bought.

That too suggests a rest is needed.

So not to confuse you for I'm BULLISH.

But YES a close above 1486 and held makes under 1300 unlikely.

Fintas. I'll post an update to bell curve, spx momo's, spx bp later. They have not been updated yet.
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