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

To: POKERSAM who wrote (62740)	8/2/2014 8:26:46 AM
From: Fintas	Read Replies (1) \| Respond to of 220483

POKERSAM.. When you say.. MARKET BOTTOMED.. ARE YOU SAYING it has BOTTOMED and goes UP from here to never land? OR are you saying it bottomed for this moment to rise to a point you are considering to then drop and go lower? I ask because that statement doesn't fit with your previous possibilities re BULLISH statement or Bear statement. One which could see 2080 and the other that could see 1650. Just asking . From where I sit the 1915 area was just an area to allow for a near term bounce that will fail and end up heading to the 1851. Fintas

To: POKERSAM who wrote (62740)	8/2/2014 10:49:04 AM
From: Mevis	Read Replies (1) \| Respond to of 220483

I think it could be shrewd to expect the gap down from last Thursday to fill.....and when/if it does THAT would be a nice entry point for bears. I would not be surprised to c a quick jolt to 1940/45 and than a tug of war up to that gap - when no one is watching. That could take us into October and ultimately the midterms.....but I am not sure if the timing will. We could ultimately form a bearish wedge that breaks down post election or early in 2015. That's my bias. There was some juicy technical damage done in a short amount of time. The bearish structure on the SPY over the past few weeks finally and expectedly resolved downward. That structure means business and IMO won't be negated with new highs.