I should add that based on the monthly we are currently below the mid-bollinger band @ ~1214 and it looks like the mid-band is starting to rollover. The bottom band is rough ~1016…past two recessions, prices just skidded down the slippery lower band slope after failing. The market seems to be trying VERY hard to get back above the mid-band after collapsing through it in August, so it seems the longer it fails to get above, the more likely the LT trend turns down. My two cents.
the IYR inverse etf’s dont have the strongest signals to go straight down.
they look like they can put in some up days, next 72 hours.
so, there will be some down days on the indexes, next 72 hours… imo.
One of my weekly charts that I follow to keep my emotions in check. I know, it’s an ugly chart! Right now I am short due to weekly < 21MA but trendlines are holding and we haven't breached 200 weekly MA. While I think LT we get to three digits, I am going to refrain from going all-in until the 200 weekly MA is breached.
I have signals, there will be a higher high within 48 hours, on the indexes.
any dip tuesday, should be bought.
i wonder if we’ll get a RED sized dip?
1210 target
I’m thinking we could go to gap window at 1206 spx tomorrow morning, and then crash. That would be a nice gap up to squeeze out any bears that go short today at the close, and to give the bulls the hope that it’s going higher. They will buy the dip once it rolls over only to keep buying the dip as it continues lower all day tomorrow and turns into a wave 3 down instead of a “B” wave down from an expected “ABC” wave 2 up.
One of the monthly charts added here.
I should add that based on the monthly we are currently below the mid-bollinger band @ ~1214 and it looks like the mid-band is starting to rollover. The bottom band is rough ~1016…past two recessions, prices just skidded down the slippery lower band slope after failing. The market seems to be trying VERY hard to get back above the mid-band after collapsing through it in August, so it seems the longer it fails to get above, the more likely the LT trend turns down. My two cents.
the IYR inverse etf’s dont have the strongest signals to go straight down.
they look like they can put in some up days, next 72 hours.
so, there will be some down days on the indexes, next 72 hours… imo.
One of my weekly charts that I follow to keep my emotions in check. I know, it’s an ugly chart! Right now I am short due to weekly < 21MA but trendlines are holding and we haven't breached 200 weekly MA. While I think LT we get to three digits, I am going to refrain from going all-in until the 200 weekly MA is breached.
I have signals, there will be a higher high within 48 hours, on the indexes.
any dip tuesday, should be bought.
i wonder if we’ll get a RED sized dip?
1210 target
Maintaining shorts too. Relief rally expected by all, now time to see if this has legs for the next week or two.
Was late on the turn obviously. Wish I bought Friday rather than waiting for Monday. Dunno what I was thinking.
Red,
SPZ 11-18 mid day update
http://markethighsandlows.wordpress.com/
Scotty
I’m thinking we could go to gap window at 1206 spx tomorrow morning, and then crash. That would be a nice gap up to squeeze out any bears that go short today at the close, and to give the bulls the hope that it’s going higher. They will buy the dip once it rolls over only to keep buying the dip as it continues lower all day tomorrow and turns into a wave 3 down instead of a “B” wave down from an expected “ABC” wave 2 up.
CRUDE OIL Analysis: http://niftychartsandpatterns.blogspot.com/2011/11/crude-oil-analysis.html
At the rate they are going right now, most all of the short term charts will be overbought tomorrow morning at the latest.