low volume melt up AGAIN – and maybe some end of day adjusting from short ETF’s – which means a little sell off, so we end off flat and positive, just above the opening (spx)
well i think the top from 1/19/11 for the spx is in. And i agree, that minuette wave 2 ABC three wave corrective would be complete somewhere around that FP. And as someone noted the manipulation “chop” happens till the FOMC meeting which is the beginning of WEC (DAVOS summit).
I don’t think the market was ever a “free market” GSspy. But it seems a whole lot more manipulated and controlled since the March, 2009 low… that’s for sure.
If we do go up to that 129.53 spy FP, then that should complete an ABC move up for wave 2 up. Like I said, we could put in a double top, fall slightly short of one, or push through a little. But a move up from the 1271 low was expected. How far is another story?
http://www.csmonitor.com/World/Global-News/2011/0124/Moscow-blast-at-Domodedovo-airport-The-search-begins-for-who-s-responsible
We now have a “cup and handle” pattern forming, which is a bullish one. This means we could breakout to the upside and put in a new high. Bummer…
low volume melt up AGAIN – and maybe some end of day adjusting from short ETF’s – which means a little sell off, so we end off flat and positive, just above the opening (spx)
Any guesses as to where we will close?
well i think the top from 1/19/11 for the spx is in. And i agree, that minuette wave 2 ABC three wave corrective would be complete somewhere around that FP. And as someone noted the manipulation “chop” happens till the FOMC meeting which is the beginning of WEC (DAVOS summit).
APPLE CHART
http://niftychartsandpatterns.blogspot.com/2011/01/apple-gets-cloud-support.html
I don’t think the market was ever a “free market” GSspy. But it seems a whole lot more manipulated and controlled since the March, 2009 low… that’s for sure.
If we do go up to that 129.53 spy FP, then that should complete an ABC move up for wave 2 up. Like I said, we could put in a double top, fall slightly short of one, or push through a little. But a move up from the 1271 low was expected. How far is another story?
Could be Diablo’s? That’s a ritual number for them, that’s for sure!
Red, no thoughts of any pi ritual, 1314 spx, say, late thursday?