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Strategies & Market Trends : Longer-Term Market Trends
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To: Fintas who wrote (2968)11/25/2014 9:34:11 PM
From: Fintas1 Recommendation

Recommended By
toccodolce

   of 3209
 
SPX and some commentary.

If you look at the link I shared from HUMBLE you will notice a few things.

First the monthly is very extended. It's not hard to consider a sell off.

More importantly as one looks at the daily below it is VERY UNLIKELY that many gaps up down to the 1800's will not be filled.

It is unlikely as one looks at the DAILY that the MACD or RSI that are very extended are going to stay extended. It's objective that they will begin to roll down.

What one has to consider is the depth.

We know there was a recent 9.9 % We know it ended in the 1820 area.

So is a re test likely of the 9.9%.. or 1820.

OR is the gap up in the 1700's and 1648 going to be filled.

Let's look at the monthly to see where there is true support.

You will notice the bottoming in the 2011-2012 area.. So as you look to the LEFT all of that to the left was taken out on the woos.. Then the breakout at 1405 in 2013.

Here it sits at 2067 ish and there are those who want to suggest we build a platform in this area with extremely high indicators.

Many thought VRTS was going to 220 back in 2000's. NOT... it dropped and never came close to such again.

It is my OPINION that when we do come down LOWER and that LOWER is yet to be determined. Even though I have a 1458.. Let's say it's 1566.. SPX could hang in the 1566-1836 for a LONG LONG TIME..

Those who talk their books would have ya believe UP and away. Others will do the not to worry look how fast we bounced off 1820..

Yet what is my point of view.. we could get caught sideways as many of the problems have to be worked out.

AGAIN. .I had asked for many to look at the SPX with the 54 value box. Looking at the MONTHLY HUMBLE PUT UP in the link tied to this post allows ANY who are objective to see the extended nature. While doing so they can also determine if a platform is going to be built to life up an other 20%. OR is it better to drop 20% to build.. spend the time to one day lift again.

Once again 972/1458/1944/2430.. It is now to be determined if 2430 can be hit. I'm on record it is IMPOSSIBLE for the 54 value box to go to 2430 without a retrace of 162. And that would lead to 200 points and that means 1890 and lower is coming.

Fintas
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