Friday, March 6, 2009

Whether 664 in S&P 500 might "do it"

we are approaching SPX 664 which is one of my numbers, and a possible small triangle in the QQQQ's that might get to a poke down at same time - possible level to look for whether the markets want support

this is NOT a recommendation for swing traders to try picking a bottom - only a short term trading comment

swing traders should look for confirmation of a trend reversal before considering SPX for a bullish swing trade

this might be a matter of shorts considering tightening stops ...

PS - I DO remain concerned about the possibility of a drop in early next week however - so as always, be careful out there!

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