Hello Guys,
These are the reference points I will be following this week; subject to grandma's (fed) mood.
I believe we might be going up till Fed meeting only cause we bounced three times already from major trend line. We need to establish key reference points for cross to consider reversals...if we don't cross and close above those points we aren't going up (keep that in mind). First point is: 1110 and 1116 (white line represents 200MA!!! if we cross and close above it, we might be going North fast. Next point to watch is: 1121 (red line represents 50MA), crossing and closing above that we might see 1140s. Currently, I have a top at the yellow trend line...it's all up to grandma boys - ohhh and keep in mind, crossing these points require STRENGTH!!!! I will hold my longs till I see reversal...that's my plan! Hope you guys agree with most of it, maybe our time frame is off but our ultimate goal is the same (make lots of freaking money)...My view is that if we don't cross and remain above 200MA we are still in bearish market (which I think we still are) my bottom target initially is 1082.
Feel free to comment your opinions...Love to hear your side of the coin...
These are the reference points I will be following this week; subject to grandma's (fed) mood.
I believe we might be going up till Fed meeting only cause we bounced three times already from major trend line. We need to establish key reference points for cross to consider reversals...if we don't cross and close above those points we aren't going up (keep that in mind). First point is: 1110 and 1116 (white line represents 200MA!!! if we cross and close above it, we might be going North fast. Next point to watch is: 1121 (red line represents 50MA), crossing and closing above that we might see 1140s. Currently, I have a top at the yellow trend line...it's all up to grandma boys - ohhh and keep in mind, crossing these points require STRENGTH!!!! I will hold my longs till I see reversal...that's my plan! Hope you guys agree with most of it, maybe our time frame is off but our ultimate goal is the same (make lots of freaking money)...My view is that if we don't cross and remain above 200MA we are still in bearish market (which I think we still are) my bottom target initially is 1082.
Feel free to comment your opinions...Love to hear your side of the coin...