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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (9318)	11/14/2008 11:01:35 PM
From: Ron	Read Replies (1) \| Respond to of 41408

That's interesting, the 13 EMA certainly is acting as a magnet/resistance here. TA is open to so much interpretation. The chicken/egg cause-effect aspect: What I see on the recent daily SPX charts is traders buying these hard thrusts down- then another wave of bad economic/earnings news driving another round of selling until the spike down comes and then... It is possible a rough and sloppy bottom is forming here, but if the breakdown comes, there won't be much doubt. The volume of forced margin and desperation selling will put an exclamation point on it. I enjoy the different charting methods here. Lots of good ideas.