Tuesday, September 23, 2008
Timing seems to Be Right!! RedDirtUpdate
The reverse H&S pattern neckline has been tested and the pitchfork timing seems to be aligned with that retest. This would appear to be a very good long term opportunity for investors. We even got a little bit of a bargain with the S&P 500 trading below the 1176 line and making it down to the true neckline support. Click on this link to see the true reverse head and shoulder support line. I would place a target of 1950 on the S&P 500. I've not completed my timing to that target as of yet. I believe from what I've seen so far it will be sometime in 2010. This is not trade advice, it is only the observation of the RedDirtTrader.
Labels: growth stocks, sp500, stockcharts, technical analysis, trading desk, weekly update
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http://finance.yahoo.com/q/op?s=SDS
The options look like they're thinking that the S&P 500 is going lower.
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The options look like they're thinking that the S&P 500 is going lower.
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