Thursday, January 21, 2010

SPX 1112/08 next, DOW 10,200ish

I'll be looking at charts more closely, doing further analysis, but right now, the most likely scenario, as I see the charts, is for SPX to decline further to 1112 (actually 1108 is my real target, but stall and possible halt at 1112).  Then a rise up to 1134 /36.  Then likely back down again, toward 1085 (more precise targets to be calculated later).

A bounce tomorrow "seems" like it should happen, but I'm thinking that SPX sees 1112 / 1108 before 1136. But of course, Mr. Market might decide to bypass all that, and shoot upward in a rally tomorrow from 1116 (last SPX).

Last SPX was 1116. There is also Horizontal resistance at 1132 that would need to be hurdled in order to get the 1134/36 ... a stall would be expected at 1132, and a possible halt there and turn back down.

This is a tough one... i expected the 1112 today... now spx might get 1108 since 1112 not hit today ... got the 1115 as i expected but not 1112

60 min spx suggests sideways consolodation at least, with that possible 1112/08 ... unless there is a gap up in morn.

Dow "ballpark" target down is 10,200..... I'm in DXD from 10,700ish

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".

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