07/06/2009白天灌水: It looks like SPX 880 will hold - at least for today

csw2002

Dow (based on the Dow Future) probed its May bottom at 8205 earlier today during Globex night session as European markets sold off. If you look at the previous 2 times when Dow approached this key support level in in May, the support rejected the probe lower during overnight session before North American market opened. This appears to be a repeat of that previous 2 instances. Considering that $INDU leads $SPX, we could reasonably conclude that $SPX should hold its 880 support. In both the previous instances where SPX880/Dow8200 support held, we had held significant gains at the end of the sessions. Thus day traders may want to look into buying into strength this morning as the market opens. However, if during the regular market hours, Dow and SPX starts to probe these support levels, I'd be more careful with going long at all.

多吉

Dow (based on the Dow Future) probed its May bottom at 8205 earlier today during Globex night session as European markets sold off. If you look at the previous 2 times when Dow approached this key sup ...
csw2002 发表于 2009-7-6 09:04 AM

agreed.

thx...

feelucky

板凳

fufu

上周short的，何时应该cover?

dara

3rd time?

wow, I ride the low each time, I should go long from 880 too, haha.

dara

what is going on to India market? drop 5.8%?

It looks like FXI is the next target.

csw2002

XLF relatively strong - but $tick negative - divergence indicating indecision.

jiaming12

ajs

TECH_LOVER

finance holds well

yoy_158

we will see.

csw2002

Gap from last Thursday on Dow has closed.

palm

morning.

aveda

Good Morning

dd_xu

morning, very professional comment. thanks

COS

开小差

1# csw2002 thx.

csw2002

XLF losing steam - combined with negative $TICK - this does not look good for bulls. Best case scenario if there is no turn around in $tick would be consolidation around VWAP.

yoy_158

10:30 new low is expected

dara

hoho