Friday, October 7, 2011

My Post in October 4, Tuesday

This is the Post of my Private Blog in October 4, Tuesday, where I indicate a buy point in case S&P500 go above 1097 points:

Ok, we arrive to my very important minimum target at 1095 points circa, it was more than 1 month that I'm waiting this price. Now the forecast say that we are near the Low. I would prefer to see the S&P500 Index to remain low until at least tomorrow, but it must not stay remain under 1096 for more than 3 days. Start to accumulate could be dangerous, we can not be sure that market will rise, but my work say that the probability is very high.

Prices: at 1083-1085 there is a mid term price that statistically push the market up in the next days. Attention that it is not a precise price, market could stop for 2 days under this area before rally.
1096 is a very very important mid term price. Consolidation above this area will be a buy signal. Statistically market should not go under 1066 points. Another mid-term price at 1083.
Today key prices are little far: 1114 and 1069. Others key prices but not so strong at 1074.5 and 1097. I could buy with consolidation above 1097. but stop loss under it. I want use patience, this trade will be for a mid term position, not for only some day. I would prefer wait tomorrow, but above 1097 I will try to enter Long with something.
Market did a Low at 1074.77 that was one my key price. We bought above 1097 points, as I indicate. This is the S&P500 chart today:

Why do I bought above 1097? In my course The Law of Cause and Effect, that you can buy in the site I explain why this is a fundamental price where you can expect an important move. This is a tool that are working very well in the last 11 years on the S&P500.