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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by audreyh1
Secular bear markets still have strong rallies.
And the S&P500 did manage to close above 1100 after all.
Audrey
I know you are timing the market so look at the update of the first chart I posted. I didn't change the line; just updated it for Friday's info.
Let's see if the down trend line holds.
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Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
Don't start that again.
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"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by audreyh1
I don't follow charts. You had expressed strong doubt that the S&P500 could close above 1100 on Friday.
Audrey
Confess, you looked at the charts and were surprised as I was. There isn't anything wrong with looking.
Is a guess (see below), a strong doubt?
Quote:
Originally Posted by dex
Let's not forget this is a secular bear market.
The 1100 area is one place to watch, on a closing basis (it isn't a magical number - don't think if it closes above 1100 we are in a new bull market; just an area of resistance to watch). My guessis that people don't want to be long into the 3 day weekend so the S&P won't close above 1100.
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Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
jeez, you two. Get a room!
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by audreyh1
huh? What surprise? Since I can't interpret charts, they don't tell me anything except what has happened in the past.
Market goes up, goes down. The reasons escape me.
Audrey
Stop! You're killing me. You told us you visit a technical analysis site. You probably know more about it than I do.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
For those not familiar with technical analysis, an explanation of the charts may be in order:
When Dick Cheney's EKG reading (spikey brown line) is on an opposite and converging trend with the seismometer reading from Santa Monica (red line) and the convergence is due to occur near the Indonesian Prime Interest rate (green line) then we are due for an up day on the Dow.
It's a classic "cup and handle" (or maybe "diamond"--or "that cloud looks like an elephant to me") pattern.
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,139
Quote:
Originally Posted by dex
Stop! You're killing me. You told us you visit a technical analysis site. You probably know more about it than I do.
Yes, I regularly read a technical analysis site. For this reason, I have some idea of what my investor buddies who do T/A think at any given time, or if someone has identified a "Hindenberg Omen" or we are at a key "Bradley Turn Date".
But I have never learned T/A, and cannot, in fact, read charts myself. I do not particularly believe in it - or maybe it's that I'm just not interested in doing all that chart work, and/or don't think I would be any good anyway. My T/A investor friends also spend a lot of time talking about macro economic issues in addition to T/A, and it's the former that has me repeatedly reading the site. Besides, they are a well-informed and witty bunch of writers. Their approach to investing is so radically different to mine, that I find it very entertaining to watch how the other half invests.
?
Quote:
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