N QQQQ 46.46 - 47.16
N GLD 63.35 - 63.88
O USO 49.49 49.92
O ECA 64.54 - 65.66
N SPX 1480.35 - 1494.48
O TSX 14114.38 - 13906.11
10:07 ET SPX and INDU have hit important support levels in their lows. Be careful with shorts here.
Jim Taylor, JD said...
Final 50dma bounce from the NAZ
50dma:2568.04; Low 2560.95; now 20 points higher.
Rally fizzles at 09:30-09:45 PDT
Jim
6/27/2007 7:44 AM
11:20 ET as suggested this market looked ready to go higher. So it is, so it shell be? meanwhile we reaproach the 47.16 My first reseistance second time
Jim Taylor, JD said...
At Resistance:
2588.26
1495.75
50dma: 13357.15
Jim
6/27/2007 9:45 AM
13:16 ET JD had right the seloff between 12 and 13 ET! all hands for JD
For those who maybe confused with 50dma, it means 50day moving average
OK the correction JD predicted was just that, correction in an otherwise up day, which was our overall call for today. I told Dear Danno, that I did not have a real turn down time for today and there is only one ( I see now) at around 13:45 tomorrow. Until then I do not think this market is going to encounter any real problems, which is plenty suggested by the Pressure Instruments as well. You do not go from oversold to overbought in one day. It takes 3-5 days at least. Now the QQQQ levels to watch are 47.56 and 48? as we just passed the second resistance at 47.32
15 comments:
Hi Boris.
Yes . Looking for bounce . Can you get a good read on approx. Time reversal. 11:00 et ...11:30...12.00??
if not it's ok.
thanks
danno
Dear Danno, I am not sure this market is going down again hard down today. Is this what you mean?
I have no meaningful downside retaracement target time at this point.
Do I answer correct question?
good Trading
Final 50dma bounce from the NAZ
50dma:2568.04; Low 2560.95; now 20 points higher.
Rally fizzles at 09:30-09:45 PDT
Jim
It's ok Boris. You're right. The reversal has begun.
Thanks.
danno
Ok Dear Danno, JD thinks this rally ends 12:xx today. I think we just got the market stopped by my first resistance target.
Good Trading to all
Sounds good.
At Resistance:
2588.26
1495.75
50dma: 13357.15
Jim
We may be getting close to the high of the day in SPY. 149.73 ought to be real close to the price a lot of sales happen.
But who knows...I guess only the Shadow.
John
Dear John, good call we got the seloff.
Good trading
2 geniuses for the price of one! who would have thought it possible...
regards
malcolm
Dear Malcolmm, our genious lies in our selfless devotion to help others. Everything else is our perspiration on display (: :)
Good Trading and Thanks a lot to everyoen and JD of course.
Well, it made it to 149.73 and beyond. I doubt there is much more upside from here.
John
Dear John, our resistacne point for SPY was 149.98. Now the next one is much higher at 150.76. It is 50/50 getting there, in my opinion.
Good Trading
Dear John, You perception of the upside potential may turn out more correct. We just got the exhaushtion bar, which will, most likely, cap the move up.
Good Trading
If you look at what's up today, it's the sectors that took it on the chin the past few days...BSC +4 , GS +4.5
This is starting to smell like an oversold bounce.
John
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