Thread: Piercing line reversal for S&P (C fund)

Originally Posted by twodaystocks

I would like to hear some feedback on this chart and/or the market in general.

I think this needs to be bought. The recent low would be the stop so the risk / reward is not too bad. The higher it goes the more someone will want to wait for a pullback, and eventually might feel a need to chase or miss out. Seasonality is good this week. If this turns out to be a dead-cat bounce, you'd sell a new low and take a small loss.

Originally Posted by tsptalk

I think this needs to be bought. The recent low would be the stop so the risk / reward is not too bad. The higher it goes the more someone will want to wait for a pullback, and eventually might feel a need to chase or miss out. Seasonality is good this week. If this turns out to be a dead-cat bounce, you'd sell a new low and take a small loss.

I'm interested in the close, those last few candlesticks.

Low volume today?

Yeah, I'd expect low volume "holiday-like" trading this week, particularly compared to last Friday's options expiration volume.

Don't forget about the typical post holiday reversal.

Originally Posted by tsptalk

Yeah, I'd expect low volume "holiday-like" trading this week, particularly compared to last Friday's options expiration volume.

Don't forget about the typical post holiday reversal.

Hence why I miss the old IFT rules......This frustrates me to high heaven!

I hate the IFT rules. 2 per month and the are a day behind? That's ridiculous. I wish, and I'll keep saying it, the TSP would give an "inverse" fund such as DXD or SDS. I guess I can't always get what I want.

Good post. Also take a look at AAPL. Talk about a piercing reversal!

This was a huge day, no question about it. My guess is that we'll have a few days to digest this move, and will eventually re-test the bottom.

The Nasdaq had a big gap up, which will want to get filled.

I'll be watching closely as well, but will be forced to remain on the lilly pad for the rest of the month in my TSP, as I've burned my measly two IFT's, but if this market shows additional strength to the upside, I'll consider putting some cash to work in my other accounts.

Good luck!

Originally Posted by MrJohnRoss

Good post. Also take a look at AAPL. Talk about a piercing reversal!

This was a huge day, no question about it. My guess is that we'll have a few days to digest this move, and will eventually re-test the bottom.

The Nasdaq had a big gap up, which will want to get filled.

I'll be watching closely as well, but will be forced to remain on the lilly pad for the rest of the month in my TSP, as I've burned my measly two IFT's, but if this market shows additional strength to the upside, I'll consider putting some cash to work in my other accounts.

Good luck!

Yea, AAPL has incredible momentum when it gets going. I think the 20% pullback the past couple of months has given investors a great entry point. Not a bad profit back up to $700 and beyond more than likely.
IMHO, I think, unless there is positive news, the markets won't move much more than they already have. I agree with you, they will come down again soon to test/retest their lows and possibly lower, depending on what the pres and congress have to say when they are back in session.