Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (197043)	4/20/2009 1:45:14 PM
From: ajtj99	Respond to of 306849

skeeter, I thought 835 SPX would be the maximum downside today, and we nearly hit that area. I think the upside this afternoon will likely be contained by 845 SPX. I initially thought the downside to this move would be contained by the 812-825 SPX zone. However, there is now a Head and Shoulders top possible on the SPX with a neckline at 835 SPX. That formation, if we get a right shoulder, targets about 795 SPX. That's also a .382 re-trace off the highs, so it would make sense to visit that zone. A fractal pattern I'm following would limit a drop to around 803 SPX, so I'm a bit uncertain about a landing zone other than it's below this area.