Not sure yet Anthony? But since we couldn’t rally up very far this does make me wonder about the “when” part concerning the 138.41 FP. This down move to retest the lows again has a high chance of continuing lower.
The current support isn’t likely to hold. This means we should hit the 1335-1337 support zone at least. Will it hold or break is the question? Volume is very low right now, so this move down is very controlled.
Ok gang, it looks like we put in the low yesterday and won’t be going down to the support zone of 1335-1337. The lowest we came yesterday was 1341, so I guess that’s the bottom of this 4th wave down and we are now in the 5th wave up.
I think we’ll hit the 138.41 SPY FP and then rollover. No guarantee that the print will be a turning point but the charts agree with that forecast currently. We’ll have to see what they look like after we hit the target.
Silvers weekly chart looks ready to rally but it’s also putting in a bear flag on it. The daily chart is mixed and could go up more or rollover and head lower. Short term though I could see it hit 27.00 and then stall.
This guy see’s 87-88 on the Dollar once it breaks out, which should take 4-8 weeks he thinks. Obviously he’s not a reader of this blog as we all know that the dollar will hit the FP of 86.47, but it’s nice to see someone else with the same thoughts.
So, the plan could be to drop down one more time tomorrow (maybe?) and hit the support zone of 1335-1337, and then rally to the SPY FP of 138.41… followed by a 4-8 week sell off as the dollar races toward it’s FP of 86.47… simple huh? LOL
Based on the volume being “extremely” LOW right now I fully expect a rally to start once the market finds its’ support level. So, if we close down here near the lows I’d expect a quick move down tomorrow morning to hit the 1335 area on the ES and the 1337 area on the SPX.
Then a reversal rally should happen. The time between today and tomorrow morning should be enough to get the 4h, 2h, and 60min charts oversold on both the ES and the SPX. Once they turn back up we should see the daily chart put in a smaller histogram bar on its’ chart and probably a slightly higher high… hitting the FP on the SPY from last week at 138.41 (about 1384 SPX).
Not sure yet Anthony? But since we couldn’t rally up very far this does make me wonder about the “when” part concerning the 138.41 FP. This down move to retest the lows again has a high chance of continuing lower.
The current support isn’t likely to hold. This means we should hit the 1335-1337 support zone at least. Will it hold or break is the question? Volume is very low right now, so this move down is very controlled.
still think the low is in?
Gold triangle pattern:
http://niftychartsandpatterns.blogspot.in/2012/07/gold-triangle-pattern.html
Ok gang, it looks like we put in the low yesterday and won’t be going down to the support zone of 1335-1337. The lowest we came yesterday was 1341, so I guess that’s the bottom of this 4th wave down and we are now in the 5th wave up.
I think we’ll hit the 138.41 SPY FP and then rollover. No guarantee that the print will be a turning point but the charts agree with that forecast currently. We’ll have to see what they look like after we hit the target.
ES Channel update:
http://niftychartsandpatterns.blogspot.in/2012/07/es-channel-update.html
Thanks red
Silvers weekly chart looks ready to rally but it’s also putting in a bear flag on it. The daily chart is mixed and could go up more or rollover and head lower. Short term though I could see it hit 27.00 and then stall.
Interesting….
http://beforeitsnews.com/story/2361/516/Most_Accurate_Stock_Market_Predictions_Next_Major_Move.html
This guy see’s 87-88 on the Dollar once it breaks out, which should take 4-8 weeks he thinks. Obviously he’s not a reader of this blog as we all know that the dollar will hit the FP of 86.47, but it’s nice to see someone else with the same thoughts.
So, the plan could be to drop down one more time tomorrow (maybe?) and hit the support zone of 1335-1337, and then rally to the SPY FP of 138.41… followed by a 4-8 week sell off as the dollar races toward it’s FP of 86.47… simple huh? LOL
slv looking pretty good today….euro strength i assume…. think its worth holding?
Based on the volume being “extremely” LOW right now I fully expect a rally to start once the market finds its’ support level. So, if we close down here near the lows I’d expect a quick move down tomorrow morning to hit the 1335 area on the ES and the 1337 area on the SPX.
Then a reversal rally should happen. The time between today and tomorrow morning should be enough to get the 4h, 2h, and 60min charts oversold on both the ES and the SPX. Once they turn back up we should see the daily chart put in a smaller histogram bar on its’ chart and probably a slightly higher high… hitting the FP on the SPY from last week at 138.41 (about 1384 SPX).