Dayton and Stanford move on to face each other in the Sweet 16. I’d say Warren’s billions are Really safe now.
Biotechs, GOOG, NFLX, the Nasdaq indices and the Housing Index all dropped to and through their lower BBs today portending something ominous on the horizon. Only problem is there still is a disconnect between them and the SP , Dow, transports which still need to drop to their lower BBs. Usually a pause is seen once the indices hits their lower BBs. RTH dropped to its lower BB but they are still contracting and the 20 day average is still rising and needs to flatten before RTH can continue its march southward.
Duke upset by Mercer in the NCAA Tournament. Warren Buffett’s billions should be safe now.
Thinking about last year’s champs, the Louisville Cardinals, they were the 1986 champs so if the 1987 champs don’t work out for the ritual, I guess you can always use the previous year’s champs especially when they’re helmed by a 1987 icon. The 1987 champs, the Indiana Hoosiers were a #1 seed last year but failed to make it to the Final 4. The star of that squad, the tournament MVP and 1987 player of the year, Steve Alford, did get the crown jewel of basketball schools’ gig at UCLA last year and they did look quite impressive in their first round game tonight. And they are Bears after all. I saw quite a 1 11s flashed in the game as well on the Tulsa side which was helmed by Danny Manning, the 1988 NCAA champ and player of the year. The Bruins were flashing a lot of 45s at times in conjunction with a 3 at times. 4 11 (42 I guess) as well. Noticed the 4 11 backcourt combo for Gonzaga as well, the 11 being John Stockton’s kid.
As for today’s action, the $hgx and the biotech index got creamed down to and below their lower BBs today setting up a precarious postion for Monday, coincidentally Popgun’s 38th birthday. Dollar had a small pullback today setting up for an attack of its upper BB band while its shorter term moving averages start to catch up to the dollar’s initiation upthrust and mid BB line gets in position to turn up with the dollar. USO went up and tried to tag its mid BB line near the open and then fell back.
Getting close to a breakout new high, which should hit some time next week I think. If it’s early in the week then I’d think we’d be in the 1890 area, but it could be later in the week and be closer to the 1910 zone.
I’d look for 1890 area on “Turn Around Tuesday” and/or the 1910 zone on Thursday. The problem is that the weekly chart is still bullish, but in overbought territory. So even if we top next week and start to drop we could fall all the way down to the rising trendline on the weekly (around 1790-1800) and as long as it held the bulls would still be in control.
But, that’s about a 100 point drop, which is still a very nice move down. In the past moves down that averaged 80-100 points took 18-20 calendar days, so I’d expect the same thing here. However, even if the support holds the charts should incur enough technical damage to allow them to break after the bounce off the trendline ends.
My best guess is that we’ll top out next Thursday and then start the 18-20 day drop to the 1790-1800 area. Then bounce for awhile and drop again later in April breaking the rising trendline of support from October 2012 (around 1074 SPX then). At that point we could safely assume that Primary Wave 4 down has started.
Harvard with the upset of Cincinatti earlier in the day in the NCAA tournament. Harvard once again with the 12-5 upset in the tournament. The STATUE OF 3 LIES reveals the Truth!!!!!
Harvard on the 376 year cycle according the Statue of 3 Lies but missed the 377 year cycle by a year. It looks like Bitcoin played the part of the tulip in the 377 year cycle but technically it’s still active. 377===314, PI. I need to reacquaint myself with some Social Network dialogue.
1987 icon Rick Pitino and his defending champ Louisville Tigers were almost upset by his protege’s Manhattan team but it looks like they are being set up for a loss in a rematch with Witchita State next week. WS probably should be the defending champ except for the 1987 ritual as in last year’s Final 4 match up Louisville apparently was allowed to mug the Shockers with impunity something which I noticed in the finals against Michigan. 1987 champ Indiana didn’t even make the tournament this year so denouement is possible before the 2014 tournament ends.
Anyway, for the markets today’s “big” upday featured slightly negative breadth sending a certain little indicator on its continued southward trek. Transports were down as apparently Fedex has terrible earnings and predicted terrible winter conditions for the rest of year in their earnings guidance. Retail stocks were down and the nasdaq and russell 2000 had weak updays. Dollar continued its rally and is nearing its upper BB. Nikkei is also in a precarious condition dropping down to its lower BB last night with the lower band flaring open. $hgx index(housing) doing the same thing—down on the day as well.
Popgun’s 38th birthday is coming up but I like the 37 number better….might need to revisit some of his Superbowl stats but can they compare to his record breaking 55 tds for the year.
We’ve spent too much time in the 1880 SPX area, which means there’s a lot of bear stops just slightly above that zone. Even though the charts are bearish right now I still think “SkyNet” will sweep up above that zone and clear out those stops before we drop.
Dayton and Stanford move on to face each other in the Sweet 16. I’d say Warren’s billions are Really safe now.
Biotechs, GOOG, NFLX, the Nasdaq indices and the Housing Index all dropped to and through their lower BBs today portending something ominous on the horizon. Only problem is there still is a disconnect between them and the SP , Dow, transports which still need to drop to their lower BBs. Usually a pause is seen once the indices hits their lower BBs. RTH dropped to its lower BB but they are still contracting and the 20 day average is still rising and needs to flatten before RTH can continue its march southward.
SPY Analysis After Close: http://niftychartsandpatterns.blogspot.in/2014/03/spy-analysis-after-closing-bell.html
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And the 22nd is a double eleven too, but it’s also a 33 day.
april 11 is a double 11 day could be final high of year !
Duke upset by Mercer in the NCAA Tournament. Warren Buffett’s billions should be safe now.
Thinking about last year’s champs, the Louisville Cardinals, they were the 1986 champs so if the 1987 champs don’t work out for the ritual, I guess you can always use the previous year’s champs especially when they’re helmed by a 1987 icon. The 1987 champs, the Indiana Hoosiers were a #1 seed last year but failed to make it to the Final 4. The star of that squad, the tournament MVP and 1987 player of the year, Steve Alford, did get the crown jewel of basketball schools’ gig at UCLA last year and they did look quite impressive in their first round game tonight. And they are Bears after all. I saw quite a 1 11s flashed in the game as well on the Tulsa side which was helmed by Danny Manning, the 1988 NCAA champ and player of the year. The Bruins were flashing a lot of 45s at times in conjunction with a 3 at times. 4 11 (42 I guess) as well. Noticed the 4 11 backcourt combo for Gonzaga as well, the 11 being John Stockton’s kid.
As for today’s action, the $hgx and the biotech index got creamed down to and below their lower BBs today setting up a precarious postion for Monday, coincidentally Popgun’s 38th birthday. Dollar had a small pullback today setting up for an attack of its upper BB band while its shorter term moving averages start to catch up to the dollar’s initiation upthrust and mid BB line gets in position to turn up with the dollar. USO went up and tried to tag its mid BB line near the open and then fell back.
Getting close to a breakout new high, which should hit some time next week I think. If it’s early in the week then I’d think we’d be in the 1890 area, but it could be later in the week and be closer to the 1910 zone.
I’d look for 1890 area on “Turn Around Tuesday” and/or the 1910 zone on Thursday. The problem is that the weekly chart is still bullish, but in overbought territory. So even if we top next week and start to drop we could fall all the way down to the rising trendline on the weekly (around 1790-1800) and as long as it held the bulls would still be in control.
But, that’s about a 100 point drop, which is still a very nice move down. In the past moves down that averaged 80-100 points took 18-20 calendar days, so I’d expect the same thing here. However, even if the support holds the charts should incur enough technical damage to allow them to break after the bounce off the trendline ends.
My best guess is that we’ll top out next Thursday and then start the 18-20 day drop to the 1790-1800 area. Then bounce for awhile and drop again later in April breaking the rising trendline of support from October 2012 (around 1074 SPX then). At that point we could safely assume that Primary Wave 4 down has started.
Harvard with the upset of Cincinatti earlier in the day in the NCAA tournament. Harvard once again with the 12-5 upset in the tournament. The STATUE OF 3 LIES reveals the Truth!!!!!
Harvard on the 376 year cycle according the Statue of 3 Lies but missed the 377 year cycle by a year. It looks like Bitcoin played the part of the tulip in the 377 year cycle but technically it’s still active. 377===314, PI. I need to reacquaint myself with some Social Network dialogue.
1987 icon Rick Pitino and his defending champ Louisville Tigers were almost upset by his protege’s Manhattan team but it looks like they are being set up for a loss in a rematch with Witchita State next week. WS probably should be the defending champ except for the 1987 ritual as in last year’s Final 4 match up Louisville apparently was allowed to mug the Shockers with impunity something which I noticed in the finals against Michigan. 1987 champ Indiana didn’t even make the tournament this year so denouement is possible before the 2014 tournament ends.
Anyway, for the markets today’s “big” upday featured slightly negative breadth sending a certain little indicator on its continued southward trek. Transports were down as apparently Fedex has terrible earnings and predicted terrible winter conditions for the rest of year in their earnings guidance. Retail stocks were down and the nasdaq and russell 2000 had weak updays. Dollar continued its rally and is nearing its upper BB. Nikkei is also in a precarious condition dropping down to its lower BB last night with the lower band flaring open. $hgx index(housing) doing the same thing—down on the day as well.
Popgun’s 38th birthday is coming up but I like the 37 number better….might need to revisit some of his Superbowl stats but can they compare to his record breaking 55 tds for the year.
We’ve spent too much time in the 1880 SPX area, which means there’s a lot of bear stops just slightly above that zone. Even though the charts are bearish right now I still think “SkyNet” will sweep up above that zone and clear out those stops before we drop.
Yeah..could chop….but..hey..the line is 1875…so..we can’t go above that.
I gotta guess the low 1840s tomorrow..and maybe a weekly close in the 1850s.
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All things considered.. it looks weak on those weekly charts!