TA: SPX - 10 yr weekly chart- 'Bottom Finder' | Biotech Message Board Posts


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Msg  41875 of 42073  at  5/19/2022 11:18:58 AM  by

berkstump2


TA: SPX - 10 yr weekly chart- 'Bottom Finder'

 
While we have time to spend as we sit in the Biotech ICU, might as well survey some larger
Market behavior. 
 
1. Thus chart is annotated with all the times that the SPX has reached a bottom and reversed.
 
2. The vast, vast majority of those times are picked up using only one TA indicator .
 Yes, Virginia, a barely literate moron, using only this chart, COULD TIME MARKET ENTRIES THAT WOULD END UP MAKING Money.
 
3. But that's all past, isn't it ? What can you do for me now ?
 
Observations-
- The SPX has reached a 38.25 down retrace off of the significant high/lo's of the past
two years.
- The Indicator that is used predominantly on this chart sys that the SPX is currently 'bottom-fishing.'
- But will the the SPX stop descending at the 38.2 ?
Given everything that is on the world plate right now, this question is the burning issue.
One thing for sure, if the 38.2 gets broken down and through, the 50% retrcew
will be
the the instant destination.
 
- And what to do with this kind of 'iffiness'? 
As always,
Wait and See.
Remember, it will only  be with a reversal into a Bull Cross on the Full
Sto  that  'Retailers can poke their heads out of their bunkers.
 


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Msg # Subject Author Recs Date Posted
41879 Re: TA: SPX - 10 yr weekly chart- 'Bottom Finder' Steve_382 3 5/19/2022 2:29:09 PM


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