The Investingfreak Special SPX chart re-visited

Posted by Investing Freak on April 14, 2010
Market Analysis

Back on March 28th I posted an InvestingFreak original chart of the S&P500. ¬†Blue line is 10SMA and It has held for a few months now but as the market heads higher it faces a few resistance points, is 1216 the absolute top (I have preached that number offline for a while now) and a good correction of 100 points upon us? ¬†Remember that at this point all positive earnings might be faced with a “sell the news” attitude.

I don’t have time for the nightly recaps but I will leave you with an updated chart that you will like. (Click To Enlarge)

Have a good night and make some money!

-K

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3 Comments to The Investingfreak Special SPX chart re-visited

  • Hi K,
    It’s Paula, and I wanted to let you know that I also visit
    your site every night. THANKS! for the effort. I would
    like to see a SPX correction of 100 points, but don’t
    you think that is too big for a W4 move?
    Julie tells me you are trading penny stocks. How are
    you doing?
    Paula

  • Paula,
    Thanks for visiting! I’m very busy but have made it a point to try and update it every weeknight.
    Penny stocks are crazy since most are spammed stocks I take for a ride.
    I am keeping my eye on one though (THRR), they are supposed to announce a deal by end of April and finalize a buyout offer at 0.01 per share (currently at 0.0018). we’ll see if its true or another spam.

    What is your target on a W4 move?

  • K,
    When the SPX reachs the top around May 20th I look
    for a 100 point SPX correction. I think W4 will be 50
    to 70 points.
    Take care,
    Paula