false recovery

[malvado xetra 10]

I think the todays recovery in the mini sp500 is a recovery to keep falling.

 

I dont think we see in the following days the level of 1459 again. It is clear that the long term trend is bullish but for the following days there are two scenarios:

 

1st.- a diamond is going to be formed between levels of 1445 and 1451 (maximum at 1452,25). when this diamond will be finished, will go back to the long term trend strongly to look for levels at 1472.

 

2nd.- if the diamond doesnt forme finally. will fall to levels of mini sp500 between 1432, 1435. from this levels will go back into the long term trend to highs at 1472.

 

different opinions are wellcome

[notouch 10]

Big volume came in at the 50 fib level in YM (daily chart) to buy it back up so I see another wave up if earnings are good. It's still a bull market.

[malvado xetra 10]

whats a YM?

 

thank you

 

malvado

[weiwei 10]

YM is future on mini dow.

[wrbtrader 10]

whats a YM?

 

thank you

 

malvado

 

CBOT mini-sized Dow Futures (YM)

 

CBOT - mini-sized Dow ($5) Quotes Electronic

 

Barchart.com - Quote - YMM7 DJIA MINI-SIZED June 2007 CBOT

 

malvado_xetra, I thought all you Eurex DAX traders knew about the YM futures.

 

Mark

[malvado xetra 10]

I see the dow mini but didnt know that traders call it YM market

[malvado xetra 10]

replaying to notouch.

 

seeing the daily chart of sp 500 I can see that another wave up is commimg but, think that before that we ll see levels at 1442 - 1445 or even 1435 and then we ll get back to the up trend to reapet 1459 and 1470-72

 

at the moment, I dont see a 1459 for tomorrow. I think tomorrow will go down again. another wave going to 1445 at least have to come. probably I was to bear to think that 1452,25 was going to be todays high but dont see repeating 1459 yet

 

thank you for replays

 

malvado xetra