S&P 500 is still in a good shape for the bulls

S&P 500 is still in a good shape for the bulls. See below the chart, until 1060 is broken down, I am not worried about the bullishness of the market.



As expected,see previous prediction post here, the market is pulled back from 1080, "So I am expecting the market may pull back again around 1080, and the pulling back target is around 1000, as previously predicted. "

But, here, I give up my correction target of 1000, which seems not practical for now. it seems the 50MA works well for the bulls. Only after 50MA is successfully broken down, I will call 1000 as a correction target again.







at 10/12/2009 08:24:00 PM

3 comments:

  1. AnonymousOctober 12, 2009 at 8:56 PM

    S&P already 6 days UP so far. A hard drop will come sooner or later. 1000 is a very reasonable target. JMO --John

    ReplyDelete
  2. AnonymousOctober 12, 2009 at 10:37 PM

    Tiger, instead of betting on the UNG, why not try the gas companies, like apa and chk. UNG just too much BS in the ETF?

    --bokchoy

    ReplyDelete
  3. TigerOctober 13, 2009 at 9:41 AM

    bokchoy,

    It doesn't matter to me. just paper trading for fun and practice. Tiger

    ReplyDelete

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