I think we have one more move up tomorrow Seawind. The target is around gap window at 1652 spx area. Then we should drop next week and head toward the lower trendline in a falling channel. It’s around 1575 area I believe and that should be hit sometime next week.
Watching the $VIX for a stong break of 17+ to go short the market or a break under 16- to go long….as well as other indictors for me. $SPX did break 1641 but not the $VIX yet…. Until then I’d rather say in cash and keep it! Smile! hmmmm 50 dma
If anyone has sent me an email I haven’t been able to answer as my main computer still isn’t up yet, but I hope to have it fixed today. It went down last Thursday or Friday and I’m having to use a 2-3 month old clone copy that I’m working on today.
As for the market, I’m looking for a bounce back up to around gap window or gap fill. The target is around 1659 SPX where the 50dma is, but more importantly there is a downward sloping trendline of resistance coming in around there. If we hit it by tomorrow I believe it’s a good short for another move down. I don’t think the low is in yet on this move down from the 1709 high. But there should still be one more final rally in September before we crash in October.
The Nasdaq, Russell 2000, Dax,Cac, retail, xlf all joined everyone else down at their lower BBs today.
A component of a certain little indicator rallied back to its 0 line Friday and since then has reversed south again with the certain little indicator about to venture into unchartered waters.
Some recent highlights: Aug 25 was 26th anniversary of the high of the lesser grand ritual double five years ago. Aug 24 2 years ago, Steve Jobs resigned from Apple and on August 24, 1814 the British burned down the White House during the War of 1812 spawning the genesis of 2 White House Down movies this year.
I think we have one more move up tomorrow Seawind. The target is around gap window at 1652 spx area. Then we should drop next week and head toward the lower trendline in a falling channel. It’s around 1575 area I believe and that should be hit sometime next week.
Watching the $VIX for a stong break of 17+ to go short the market or a break under 16- to go long….as well as other indictors for me. $SPX did break 1641 but not the $VIX yet…. Until then I’d rather say in cash and keep it! Smile! hmmmm 50 dma
Have a great day one and all! Seawind
SILVER Update: http://niftychartsandpatterns.blogspot.in/2013/08/silver-chart-update_28.html
If anyone has sent me an email I haven’t been able to answer as my main computer still isn’t up yet, but I hope to have it fixed today. It went down last Thursday or Friday and I’m having to use a 2-3 month old clone copy that I’m working on today.
As for the market, I’m looking for a bounce back up to around gap window or gap fill. The target is around 1659 SPX where the 50dma is, but more importantly there is a downward sloping trendline of resistance coming in around there. If we hit it by tomorrow I believe it’s a good short for another move down. I don’t think the low is in yet on this move down from the 1709 high. But there should still be one more final rally in September before we crash in October.
GOLD Support and Resistance Levels: http://niftychartsandpatterns.blogspot.in/2013/08/gold-support-and-resistance-levels_28.html
CRUDE Oil testing the breakout: http://niftychartsandpatterns.blogspot.in/2013/08/crude-oil-testing-breakout.html
S&P 500 Analysis after close: http://niftychartsandpatterns.blogspot.in/2013/08/s-500-analysis-after-closing-bell_28.html
APPLE Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/08/apple-support-and-resistance-levels_28.html
The Nasdaq, Russell 2000, Dax,Cac, retail, xlf all joined everyone else down at their lower BBs today.
A component of a certain little indicator rallied back to its 0 line Friday and since then has reversed south again with the certain little indicator about to venture into unchartered waters.
Some recent highlights: Aug 25 was 26th anniversary of the high of the lesser grand ritual double five years ago. Aug 24 2 years ago, Steve Jobs resigned from Apple and on August 24, 1814 the British burned down the White House during the War of 1812 spawning the genesis of 2 White House Down movies this year.
Now back to my Shining research.
Tomorrow is also…hump day……just a smile your the blog….SMILE!