Yes I agree with you, that's why I'm interpreting it literally. It was very bullish near the bottom. I'm being and contrarian contrarian or anti-contrarian... if that makes sense... maybeYeh, I don't use these regular sentiment polls anymore, as I think most are aware these are contrarian indicators and hence, answer accordingly.
I'd guess very significant. Need a good reason for a break here.i don't seem to have even a fraction of the experience that some of the participants on this forum have so i would appreciate anyone's insight on this - i look at the XAO chart and it looks like we are coming close to an important Fib number, as well as the 200 DMA as well as previous support. Is that considered signifcant?
I'd guess very significant. Need a good reason for a break here.
So, we're probably going to push through hard.
Bottom Line: The ascending wedge pattern on the S&P 500 chart is a failry reliable signal that a short correction is due at any time. While it will make the bears happy at first, I don't think the correction will last more than a few days.
Coincidence or cycle? Would be interested to hear anyone else's views on that and if we might be coming close to a top even if it is temporary.
We are now seeing some selling into strength imo and I think we are really going to struggle to push through the resistance at 3950 ish.
Yeh, that level holds the key here IMO.
HUGE seller up there, this was talked about in Ivants SPI thread.
Hey MRC, when you say HUGE seller up there, what exactly do you mean? Do you mean there is someone selling the index at that level which keeps it from pushing through? Doesn't the index move with the individual SPs of the companies that make it up, eg BHP, WBC, WOW, etc? In which case, how can one huge seller stop the index from pushing through that level if the individual SPs are all moving up? Hope this isn't a stupid question
Futures down 92 points at the moment.
The next leg down starts now?
It's been called several times now. Started about 2 weeks ago, but it's just kept coming back. We'll see. Good luck Nun!Futures down 92 points at the moment.
The next leg down starts now?
It's been called several times now. Started about 2 weeks ago, but it's just kept coming back. We'll see. Good luck Nun!
Hey MRC,
Is this your kind of play? Double bottom. Potential break above the mid point high.
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