Saturday, March 19, 2011

Still looking down


>This is not Japan 1995 after that EQ this is two different major events the out come will be different. Forget that history template.

>The Fed will find its hands full with Japan, Yen vs. QE2 vs. Japan treasury holding.

A severe cut back in QE2 US purchase program.

>Inflation will climb as shortages create demand in certain products. Aka Richard Nixon freezes.

Our 1250 target filled faster than first thought, so fast is good.

Charts as we look at Advanced Gets Elliott Wave format we notice that SPX 1250 was there to be hit, we notice an overlap at 1294.26 so we should not go much above that and 1300 should be strong resistance. Or this count is wrong.

You will notice on the gap charts that 1257 is a huge target.

On the chart of stocks % above the 50sma you will notice we were weak before Japan and last 2 days with a lot of market noise we are still on a sell.

I stick with my target of 1115 SPX on or near 4-25 currently, sell the rallies.$SPX


Thursday, March 17, 2011

Finding the low.

The major correction in April 4-26-10 H was a 17% lower move to 7-1-10.
If we use that as our template then 2-18-11 - 17% would = spx 1115.58

If 4-26-10 to 7-1-10 is 66CD (calendar days) or 45 degree.

Then 2-18-11 H to low 4-25-11 or 45 degree and 360 degree from the 4-26-10 low. H to L anniversary.

Summary spx 1115.58 target on 4-25-11

Jerry O

Wednesday, March 16, 2011

Thud coming

I think we will just fall out of bed by Thursday I could be early!
Give Wednesday a chance to rally more but hope it is contained at 1296 spx
Advanced Get has us in a bearish count. We had an 18% upvolume day not the sell out volume you would expect. Vix spiked the Bollinger Band many say that is a rally sign but not always.
Second chart has the % of stocks below the 50dma on a sell.
Still like 1250 as target, a fib and a 7% correction from the high.

click image to enlarge

Sunday, March 13, 2011

Still looking down 1250 good target

This has nothing to do with World events since the market was getting weak per the Thursday chart of the stocks above the 50% ma.