SPX broke below 1400 today

JAP said: "As I predicted a few months ago, we are back to the 1400 level on the SPX. We closed at 1390 today. I haven't seen such a high amount of intraday volatility on the SPX since last August. Over the past 2-3 days within 10-15 minutes we would gain 15 points, lose 15 points... gain 20 points, lose 30 points... nuts! If we break the August low of 1370, with big selling volume it will mark the official start of the next bear market. It should be a fun ride. Put your safety belts on... tight. If we get another August type capitulation (ie. sell-off of 300-500 points then a quick reversal) I plan to pick up many stocks on sale. As FF says, it's hard to imagine the powers that be would allow the market to fail before an election. For right now: If you are scalping long, make sure you sell into all pre-hours gap-up rallies. You may also want to short into intraday highs too. Happy trading!"

Rbreb13 said: "SPY fell through [B]all[/B] support today! I have tomorrow off so I'll be watching closely. The SPX is only 20 points away from the 1370 we saw in August. If it doesn't bounce off that level we could be looking at a really major correction in the making. The RSI(14) of all the major Indices are sitting right at the 30% level. Oversold conditions are just around the corner."

1997zj said: "Just saying howdy to all those shorts :wave:... This has been a long time coming!!! weee!"

FirefighterB said: "Man, I just wish we'd get to 1370 already. Bounce, no bounce. I just wanna know so I can load up/hold on loading up. While I think there will be some tampering, I'm wondering if it is even possible for them to prop this anymore. It has bounced twice off this range and, well, three times is a bit much, it seems. Who knows? Either way, I'm picking up lots of ultrashorts and shorting some of my personal favorites."

billytickets said: "Make sure you buy right.it is ALWAYS a stockpickers market"

JAP said: "Seems like [I]they're[/I] not gonna let this market drop below 1370... not yet anyway. Yesterday the SPX hit an intraday low of 1378, then it shot to 1409 by the close. So, was that it?... Was 1378 the pivot point? I'm not convinced. When the market capitulates (like it did in August) it will be the time to buy. I'm not going long on anything until that happens. In the meantime, I'll continue picking up some nickel and dime day trades."

billytickets said: "this market will be 1600 by year end"

FirefighterB said: "Billy. Go take a piss in the wind and stop posting crap on here just to build your post count so that you can further pollute the forum with more of your crap. Thanks. Hugs and Kisses, Johnny"

Airelon said: "ROFLOL - you guys are killing me today. Back on topic, I wouldn't be surprised to see 1440 or 1450 on a rally. But that's not how I'm playing it, or even what I really expect to happen. I do believe that we'll see 1350 this month . . ."