Friday, January 21, 2011

Trend Change Pending

Trend change if we close under 1277.92 Spx
This chart offers a view of what could happen Friday since volume has followed this same 5 day pattern of 11-16 taking us to 1262 spx support.

click chart to enlarge.

Wednesday, January 19, 2011

Update on bar count

The bar today was more bearish than expected. I have been saying to any one that would listen we will mount a rally Thursday. The way I see it. POP the open , HOD by 9:45ET, then down 10+ SPX points, mid day, to recover to close.
Today Vix went over 17, I said we would be lower if that happened. watch it.
Isee was too Bearish 86 = bullish 1 day
Trin 2.31 bearish = bullish 1 day
Upvolume 11% =Bullish 1 day
The trin,isee,upvol and you match up with 5-18, or 8-19. We mount an afternoon rally I would say it is shorted.

Sunday, January 16, 2011

Trend Still UP unless

UPDATE 1-18 today vs my drawing lower on this page- So good So far.

We need to take some of these target if a turn down is in store 1269

Here we have a bar count from my video. Since this is still imagined it should go something like this. Closing near high of day a MUST as we did Friday 1-14-2011 showing great optimism.
So the next bar as shown should look like this.

This bar 2 is the most important as described.

What is bar 2 fails and we have a blow off top? It would still have this pattern leading to that blow off. But must close lower than bar 2 and 3

Click charts to expand. Recap: You must see a pattern something like this or the count starts all over again. In our minds we think markets run up and crash but not really there are clues.
This is one clue.................................... Jerry O