Wednesday, October 20, 2010

Tuesday report for Wed.

Tuesday plunge, was Monday the high. I don't know.
I do know For Wednesday we have support 1 at 1157.73 and i think that will hold if we even get that low.
I also have an aggressive sell at 1157 to confirm a trend change.

Not thinking this is it yet. But 1157 knows all. SPX

Sunday, October 17, 2010

Pending Market Action

Not much has changed in one week as we get more over bought.
I still look for high ahead of us. The 25th-26th low I looking for could be highs .(inverted)
My official sell is at 1142 SPX trend model, but will offer 1155 SPX for the next few days.
Banks look to break down, and earnings should be in general high gear this week, after that I don't know what the bulls would want.

2 charts weekly showing the yr.2000 -10 year pattern and a current possible H&S pattern with the Advanced Get wave 4
Upside possible target 1197 to 1206 but 1155 would offer panic down. Nothing bullish about QE2, me thinks.
Wave 4 click image to enlarge