Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, January 12, 2010

Targets

I'm still sticking with my sort of sideways suggestion here.

But Tony asked about targets, you can see the sort of wedge and the 20D-EMA is at the sort of 1120-1125 level. which is 5 points off the morning low or so. there are also 2 resistance levels below that.

Of course here I am counting chickens before they have hatched but that seems like a logical first target. for the swing.

8 comments:

Tony said...

You can always tell the unrepentant grizzly bears: they start referring to support as resistance.

I have 1127 as pretty solid support.

Tony said...

BTW, good call on the 1147 (I'm not sure if I mentioned that).

Eric said...

Support for bulls, Resistance for Bears.

If I had said 'I' i'd be correct, If I said "the market", I'd be wrong.

Life is Relative, and all politics are local.

Fairly gay about that story, aren't you.

Tony said...

gay? what story? how so.

Eric said...

Barry's little "What kind of bear are you"

and I meant gay, the actual definition.

Tony said...

lol. Whatever the 'actual' defintion really is.

Tony said...

My bad. The 1127 I was seeing as support is the ES_F, not the SPX. I was referring to the wrong chart.

SPX would be about 1131.50 support.

Eric said...

that is a good one

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