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

To: DebtBomb who wrote (14556)	2/24/2011 2:01:16 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 220889

I don't have any targets, so I'm never "looking for" any price... but I do have a vertical price for the March SP's at 1291.20... look at the header for a definition of what a vertical price is... you could be right, we missed it by 2 points, that could be close enough to trigger a rally now... a vertical price is NOT a target... Here's what a vertical price is, from the header: The Vertical Price: A vertical price is the price of maximum stretch during a rally or a decline. In a down market, there is a price where excessive selling becomes completely exhausted (at least for the meantime) and where buying is mostly likely to enter the market and begin a rally. This vertical price is NOT a target, there is no certainty that the market will actually reach the vertical price. But, if the market in fact hits that vertical price, then I may cover my short position and go long but it is not a buy signal, it's just a warning that the market is extremely oversold and that you should expect a brisk rally from that point. The inverse is also true in an up market. Interestingly enough, the market typically turns around within a few ticks of that vertical price, so it's a highly reliable indicator. On any new buy or sell signal I will also post the new vertical price so we can watch for it in advance. GZ