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 : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (11822)	10/27/2010 11:41:40 AM
From: TraderMann	Respond to of 220704

Hum... Anyway the 1168 pivot pt. lines up with the 20dma on the charts. If the 13dma 1174 is rejected as resistance a few more times we will drop next to the 20dma and pivot pt 1168. It is fighting good at the 13dma now...we'll see!! Also see how it handles the 1177 pivot pt. after the 13dma 1174. I am just looking for a turn and I am unloading shorts and going long again. To me it's all about exit and entry pts.

To: GROUND ZERO™ who wrote (11822)	10/27/2010 1:10:54 PM
From: Chip McVickar	Read Replies (3) \| Respond to of 220704

GZ and Friends Weekly SPX cash chart DOWN andrew's pitchfork median line is sitting near 1030-1040... Its origin - 9 august high 1219 and 1039 23 aug to oct 11 high at 1184 Weekly forward UP origin is low of 1010 28 aug... looking at 1400... High 1129 9 aug and low 1039 23 aug - The market has been following this median line perfectly in the weekly and daily bars since it was formed in august '10... both are looking forward about 3-4 months. Todays weekly bar is the first bar to drop off the median line in a reversal... since this fork was created 10 weeks ago. The markets sit IMHO... at an apex throughout this chart of Aug - Sept - Oct - Nov... actually it goes back into the summer... What happens here will determine the direction of the overall equity markets. Also in the currency and commodity markets. We could see both 1400 or 1020 depending on the out come of pressures the markets are watching. So far the 1400 has the upper hand... So far the prospect of a reversal is getting weaker and thinner for this broad time band. Lets hope it stays that way... but to me it's still 50/50. stockcharts.com Chip