Looks like we might be getting a C wave down (or 3 wave?)… assuming the move up from 1500 a couple days ago to the gap open high today was a B wave up? Or, this could be a B wave inside the final 5th wave up from that 1500 area last week? That would mean C wave up to take out 1530 spx is next. Tough call here…
On Tuesday, there was a +1200 tick reading with a high $cpci (index put) number matched with a low $cpce (equity put) number. There was also a gapup open with 700+ new highs all indicating exhaustion. The tick reading was the highest number I believe since October 2011.
Not much worry or mention over the Italian elections tomorrow. Markets rallied into the elections. Then we got the UK downgrade of its AAA rating after the close.
Monday is 2-25 or 27 and it is 999 trading days from the 3-6-9 low. As I mentioned in a previous post 207 weeks is 3×69 but I didn’t see the 369 number in there. (from the 3-6-9 low)…..39==27 or 999…
Bounces pretty much everywhere in the stock indices to help positon a proper BB setup but they left the weekly setup pretty ambiguous. No weekly TD bear flip and a minimal if any weekly reversal lowers. And the Dax, Cac, and the euro were on the brink of a 13,34 ema bearish crossover but had not triggered a sell signal yet. A perfect moment to plunge the market on some nasty news while most participants are waiting to board the bearish bus and watching it leave without them on board?
GOLD Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/02/gold-chart-update_26.html
Looks like we might be getting a C wave down (or 3 wave?)… assuming the move up from 1500 a couple days ago to the gap open high today was a B wave up? Or, this could be a B wave inside the final 5th wave up from that 1500 area last week? That would mean C wave up to take out 1530 spx is next. Tough call here…
EURUSD Support and resistance levels: http://niftychartsandpatterns.blogspot.in/2013/02/eurusd-support-and-resistance-levels_25.html
IWM Weekend update: http://niftychartsandpatterns.blogspot.in/2013/02/iwm-weekend-update.html
On Tuesday, there was a +1200 tick reading with a high $cpci (index put) number matched with a low $cpce (equity put) number. There was also a gapup open with 700+ new highs all indicating exhaustion. The tick reading was the highest number I believe since October 2011.
Not much worry or mention over the Italian elections tomorrow. Markets rallied into the elections. Then we got the UK downgrade of its AAA rating after the close.
Monday is 2-25 or 27 and it is 999 trading days from the 3-6-9 low. As I mentioned in a previous post 207 weeks is 3×69 but I didn’t see the 369 number in there. (from the 3-6-9 low)…..39==27 or 999…
Bounces pretty much everywhere in the stock indices to help positon a proper BB setup but they left the weekly setup pretty ambiguous. No weekly TD bear flip and a minimal if any weekly reversal lowers. And the Dax, Cac, and the euro were on the brink of a 13,34 ema bearish crossover but had not triggered a sell signal yet. A perfect moment to plunge the market on some nasty news while most participants are waiting to board the bearish bus and watching it leave without them on board?
GLD Weekend update: http://niftychartsandpatterns.blogspot.in/2013/02/gld-weekend-update_23.html
SILVER Trend update: http://niftychartsandpatterns.blogspot.in/2013/02/silver-trend-update.html
BAC Chart update: http://niftychartsandpatterns.blogspot.in/2013/02/bank-of-america-chart-analysis_22.html
ES Update: http://niftychartsandpatterns.blogspot.in/2013/02/es-chart-update_22.html