The charts could support one more move down later today or tomorrow but with the heavy manipulation in then I wouldn’t chance a short. However, I wouldn’t be going long today either as I believe even with the manipulation the charts will need another day to reset back upwards.
I don’t see it breaking that level… if it even gets there? But the trend is still up and will probably stay that way until a new all time high is put in… which again I think will happen on a ritual “eleven” date like the 1st of April or the 10th.
Of course that is just speculation there, as well as the target of 1666. My main focus is on May 22nd, and until then I see nothing much but chop. It’s good for the short term daytraders but I’m looking for a large move, so it’s better to wait for me.
I can only hope that they do hit a new high before then and start down with the wave 1 and back up into late May for the wave 2, as I’d really like to see the charts setup for a wave 3 by the time the next Legatus meeting happens.
Watch for 3:02 tomorrow for a major turn in the markets. Going up I suspect. I have been short since Friday. 1/2 position and shorted just off the highs today.
Support is around 1532 SPX from a rising trendline (also a channel) should the market continue down tomorrow? There is a good chance that it will as a high of 1564.91 this morning is still under the all time high and could be close enough for this attempt. They did get a new high on the DOW which means the odds are very high that they will get one on the SPX too… but it doesn’t have to come right now.
They could push out this new high into the first week of April like I posted in the latest update video. So possibly a bottom short term above 1532 and then back up into April for the all time new high. The 2 important dates are the 1st and the 10th as they are both “eleven” days and could be the date the high is made on?
The charts could support one more move down later today or tomorrow but with the heavy manipulation in then I wouldn’t chance a short. However, I wouldn’t be going long today either as I believe even with the manipulation the charts will need another day to reset back upwards.
BLACKBERRY Chart update: http://niftychartsandpatterns.blogspot.in/2013/03/blackberry-chart-update.html
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/03/s-500-analysis-after-closing-bell_26.html
I am only day trading at this time. I will be back long tomorrow at approx 3:02.
I don’t see it breaking that level… if it even gets there? But the trend is still up and will probably stay that way until a new all time high is put in… which again I think will happen on a ritual “eleven” date like the 1st of April or the 10th.
Of course that is just speculation there, as well as the target of 1666. My main focus is on May 22nd, and until then I see nothing much but chop. It’s good for the short term daytraders but I’m looking for a large move, so it’s better to wait for me.
I can only hope that they do hit a new high before then and start down with the wave 1 and back up into late May for the wave 2, as I’d really like to see the charts setup for a wave 3 by the time the next Legatus meeting happens.
I would be a extremely happy man if the sp got down to 1532 level.
Watch for 3:02 tomorrow for a major turn in the markets. Going up I suspect. I have been short since Friday. 1/2 position and shorted just off the highs today.
Support is around 1532 SPX from a rising trendline (also a channel) should the market continue down tomorrow? There is a good chance that it will as a high of 1564.91 this morning is still under the all time high and could be close enough for this attempt. They did get a new high on the DOW which means the odds are very high that they will get one on the SPX too… but it doesn’t have to come right now.
They could push out this new high into the first week of April like I posted in the latest update video. So possibly a bottom short term above 1532 and then back up into April for the all time new high. The 2 important dates are the 1st and the 10th as they are both “eleven” days and could be the date the high is made on?
BLACKBERRY Weekend update: http://niftychartsandpatterns.blogspot.in/2013/03/blackberry-weekend-update.html
APPLE Weekend update: http://niftychartsandpatterns.blogspot.in/2013/03/apple-weekend-update_24.html