Re: P&F Chart School
Originally Posted by
James48843
I concur JTH- Everything I am seeing here is telling me the S&P 500 is on it's way down to around 1950, where there is a harder floor, and then then is another resistance point about 1900-1910. I think that we are around a 50% chance of hitting 1910, and then a 20% chance of falling below 1900. Yes, it is possible, but not likely to go below that, if the P&F chart this afternoon is correct.
We'll see how it pans out. I am out right now, but will be looking for a good entry point to get in if we dip to 1920 or less.
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I may just take a shot if we get down below 1920. There's a gap on the daily chart between 1905 and 1909 that needs to be filled. Then again, my favorite DeMark indicator guru says market close today below 2002.39 means market goes longterm neutral, intermediate/longterm bearish, so I may just sit and watch for awhile longer after that even. Trade Trekker
"life can only be understood backwards, but it must be lived forwards" - soren kierkegaard
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