Thursday, August 5, 2010

Put the 6th on watch. but bullish

Above chart is max pain about 1075 Spx for Aug . Do we have to go down no but it does add downside pull. I have the 6th as a 8TD and 24TD high so I need to watch that. It's amazing how the 5th TD of each month can be a major high or low leading to OE on the 20th (OEX).
The 6th is also the 5thTD like 3-6-09 if ones remember that event. (major low)
For Thursday I 1116 as a pivot B/S agressive to wiping, nothing to do with today's low. My indicator are still not overbought. 1168 anyone?

Wednesday, August 4, 2010

Back and fill.

Market personality of late looks to continue. We rally come back to a pivot and rally again. Yesterday B/S pivot was 1108, not to worry I said, today it’s 1112 possible we hit it before a close higher. Just happens to be a ballpark 50% retrace.

I keep saying spx 1168 is doable. If W(2) 1060-W(3)1125 is 65 points,W(4)1101 +65 =1166

As long as the vix is in a down trend and my 3 price based cycles are in up trend, how can I get bearish? Bulls are rare so far.

Tuesday, August 3, 2010

Bullish not for Day traders

Remain bullish, Monday action suggest a high Thursday. I'm not over bought either. I do have a B/S pivot at 1108 not to worry.:)

MOB ( not complete) is looking at 8-9 high ( see chart)

MACD target suggest more time is needed since it is slow.

Target is SPX 1168 at least.

Never invest your money on a thought on the internet.

Chart below.

Sunday, August 1, 2010

Still bullish less 1070 falls

I have 3 cycles still projecting up, and AGET to 1168 or 1225 spx. We are in a cliff hanger area. If 1070 falls on a close basis and the macd does a crossover then the rally could fail. Lets watch my pivot at 1100 for Monday and expect a test of Friday's low only to recover from either buy the dip's or bears in fear, covering their shorts. Thinking Friday 6th will be H.O.W. based on an 8 TD, a 3*8TD and 13+13 (Sat-Sun)TD pattern +/- all from 7-1-10 ( spx 1010)