Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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To: GROUND ZERO™ who wrote (45148)	2/2/2013 8:01:56 AM
From: Vendit™	1 Recommendation Read Replies (1) of 220537

Here is some more technical Chit for the morons that lurk here. Most importantly the $SPX closed slightly above the center fork tine so the middle tine has established itself as the mathematical support target. That means we have to move higher by EOD Monday for the $SPX for maintain its upward direction. The top indicator Williams R% is always first to signal a directional change. It is currently pointing up but happens to be at the extreme top of its scale. It can remain there for days or even weeks or it can reverse within 1 to 2 trading days and we will see the bottom drop out of the $SPX. The two lower indicators, Stochastic and MACD are now both flat to neutral and both show the $SPX is mathematically overbought. As Fintas says, it is not a matter of “if” more than “when” the bottom will fall out. V

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