Breadth was pretty terrible today. Usually on these doji days following a big upday, the breadth is generally flattish to slightly positive.
Todays SP high====1399.42 makes it 732 pts from the 666.79 low and 324(888).65 pts from the 1074.77 low and 28.84 pts above the May 2011 high. I still like it getting to at least 733pts though.
The end is nigh……….Apple is nearly 50% above its 200 day average. 100%+ above its 200 week average. This is extreme extension or 2 standard deviations. 55% above the 200 day is about max extension. That puts it at around 626.2. Interesting number where the 200 day average is and multiplying 55 to it creates an interesting number. Let’s just say numerologically appropriate.
Michael Belkin was the expert on econometrics and standard deviations above moving averages but he seems to have disappeared from the face of the earth partly probably because he didn’t have nice things to say about about the drug industry and their pimps (MDs).
Watch for a spike in Apple up into that area and then a reversal for a sign of the end times.
But there was some nice action today indicating a possible top but they might hold it up one more day to screw the SP putholders.
If I had to guess (which is what we all have to do anyway in this manipulated market) I’d say they will gap up and sell off tomorrow… falling short of the 1425 spx level from 05/19/2008 where every bear is waiting to get short at.
I think it’s going to fall short because I think Apple will hit the 600 mark and get attacked by bears… which means the overall market will fall too. I’d guess around 1415-1420 spx and then a sell off.
They never make it easy for the bears and they know bears are waiting for 1425… and since they have already cleared out all the stops parked just above the previous resistance zone of 1370 spx, there’s nothing left in this market but retail bull sheep.
Yup…
…and don’t forget to heckle the Fed on @federalreserve (like 99% or more of the tweets are negative on the Fed), which just went on today.
SPX Analysis after closing bell:
http://niftychartsandpatterns.blogspot.in/2012/03/s-500-analysis-after-closing-bell_15.html
Breadth was pretty terrible today. Usually on these doji days following a big upday, the breadth is generally flattish to slightly positive.
Todays SP high====1399.42 makes it 732 pts from the 666.79 low and 324(888).65 pts from the 1074.77 low and 28.84 pts above the May 2011 high. I still like it getting to at least 733pts though.
333 pts off the SP 1074 low of October 4 would be 1407/8. It’s already had two 333 pt rallies (666). SP 1399 though is 733pts off the 666.79 low.
The end is nigh……….Apple is nearly 50% above its 200 day average. 100%+ above its 200 week average. This is extreme extension or 2 standard deviations. 55% above the 200 day is about max extension. That puts it at around 626.2. Interesting number where the 200 day average is and multiplying 55 to it creates an interesting number. Let’s just say numerologically appropriate.
Michael Belkin was the expert on econometrics and standard deviations above moving averages but he seems to have disappeared from the face of the earth partly probably because he didn’t have nice things to say about about the drug industry and their pimps (MDs).
Watch for a spike in Apple up into that area and then a reversal for a sign of the end times.
But there was some nice action today indicating a possible top but they might hold it up one more day to screw the SP putholders.
Or they just keep melting this up to infinity, its all just FIAT Pape anyways.
If I had to guess (which is what we all have to do anyway in this manipulated market) I’d say they will gap up and sell off tomorrow… falling short of the 1425 spx level from 05/19/2008 where every bear is waiting to get short at.
I think it’s going to fall short because I think Apple will hit the 600 mark and get attacked by bears… which means the overall market will fall too. I’d guess around 1415-1420 spx and then a sell off.
They never make it easy for the bears and they know bears are waiting for 1425… and since they have already cleared out all the stops parked just above the previous resistance zone of 1370 spx, there’s nothing left in this market but retail bull sheep.
Some of the gold stocks i follow, the prices are very low today. i’M BUYING!
Silver chart analysis:
http://niftychartsandpatterns.blogspot.in/2012/03/silver-chart-analysis.html
IWM at resistance level:
http://niftychartsandpatterns.blogspot.in/2012/03/iwm-at-resistance-levels.html