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TFC Commodity Trading Forum

Re: S&P Crashing/Randolf *PIC*
In Response To: S&P Crashing *PIC* ()

The Aug 8 and 10 lows of 1119 held up on today's Friday close at 1123. So far so good. This "W" pattern 'could be' explosive on the upside as long as that 1119 low doesn't breakdown. A rally back to 1205 would easily be cleared as well running back to the June or March lows resistance around 1265 or even the uptrendline breakdown pt of 1300. And this is coming from a die hard BEAR!!!!!!!!!! After that it would be crash and burn time again but 1st things 1st. The bears hit this market with everything they had and then some and couldn't breakdown the SPX below 1119 on today's Friday close. They just might be in the mood to trade the other way as they've got to be out of ammo one would think. The SPX 1119 is the acid test early next week for sure.