Re: [RT] follow up sp500

[Ben <profitok@xxxxxxxxxxxxx>]

hello Ira

thanks for your input,

over the week end i was also convinced we will get to 1440-1460   before going down,

but,

now i think   we get there after we visit  1360-1365

and

made tons on your CL  short recomendation

enter a week ago at 114  and added 2 more at 113

bought to cover at 110.69

problem is re enter short too early

have a great week

Ben

----- Original Message -----

From: Ira

To: realtraders@xxxxxxxxxxxxxxx

Sent: Monday, May 05, 2008 7:23 PM

Subject: Re: [RT] follow up sp500

Ben:

 

I have price reaching the second price objective for the move up.  It is acting as resistance as it should.  The target for this move higher, a retracement, is 1456.  For price to start a major move down it would have to go through 1355 and than the first price objective would be 1289.  There is major divergence at the high and now there is downside pressure being place on price. The divergence indicates that the interior of this index is far weaker than price indicates.

 

Just one man's opinion.

Ira
www.delta100.com

----- Original Message -----

From: Ben

To: realtraders@yahoogroups.com

Cc: TimeandCycles@yahoogroups.com ; vincenn

Sent: Monday, May 05, 2008 4:13 PM

Subject: [RT] follow up sp500

Here is the vince indicator bottom chart

top chart is the sp500

 

notice the bearish divergence,   its now on for over 5 days

 

p,s

 

you most likely get a gift tomorrow, to get out of longs ,and enter shorts, at about

1409-1411

Ben

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