Forget the SP Jan Low
March 10, 2008 11:40 PM
I do not consider the Jan low on the SP “critical” anymore to prevent a market collapse because of where the Dow is. I suspect we will take out the Jan low on the SP rather easily, but the Dow low was 11508. That is where the eyes will shift for this month, IMO. Will it spike down once we clear it the SP Jan low?? Almost certainly. Will the market collpase? Most likely not as everyone will be watching the Dow low once the SP clears…
Comments
Got something to say?
-
Recent Commentary
- Site Update: It Has Been Fun, But Closing It
- Morning Call: Open Sold
- Market Recap: GM News Was Not Really A Deal, Dow Low Cleared Late and Down She Goes
- Morning Call: Open Sold, Dow 7773
- Market Call Revisited: Sell Asia
- Market Recap: Not Good
- Market Update: Doesn’t Look Good, 818 and 826
- Market Recap: Buyers Above 818
- Morning Call: Open Gap Bought
- Market Recap: Buying On A Big Number, Now What?
- Morning Call: Still Uncertainty
- Market View: GM Holds The Cards
- Stock Charts VS Market Charts
- Market Recap: Somewhat Predictable, Low Came Where I Said Was Likely
- Morning Call: Unclear, Risk Is High
- Huge Rally: Now What
- Market Comment: Does News Even Matter?
- Market Recap: Close Day Craziness
Our Mascot Trading Goal: Ferrari 599
