Saturday, June 11, 2011

New targets if 1293-1303

I think the above chart has clean reading. click charts to enlarge.

Comparing flash crash (red line) with now and the final low at 1010 spx 2 months later.(blue line)

Wednesday, June 8, 2011

Mid Week Update 6-8 am

Many oversold indicators, yet Bernanke speak fails to rally us! Momentum is down so far.
If wave 3 is not complete then 1263 crossing the green lines is first target, but more likely 1249 as AGET see's. Upside for wave 4 is 1306/1313.
Jerry O

Sunday, June 5, 2011

Some thoughts.

The above chart shows the current AGET count. You would have to look back at an older chart where I said the bullish wave 5 was called by Get to fail and we did. Big time fail no not really. There are several targets lower that should be easy. Spx 1286.12 for one
MEBOB monthly May 1345.20,April 1363.61,March 1325.83, Feb 1327.22 and then Jan 1286.12
Since we smashed them all, but 1286.12 that should be easy.
Unfortunately we are oversold and I think Monday 6th or Tuesday we mount a rally.
Volume % are over sold=UP
Vix + spx call Monday =UP

On the bear side a hi P/C ratio of 1.73 could either plunge us sharply or rally us sharply.
The % drop of 2.5 is light so far.

Back in April of 2010 from spx 1219.80 on 4-26-10 we went to 1010 a 17% drop.
A repeat here from 1370 is 1129.

Wrap it up Jerry.
Either we need to do more w3 down damage to 1249 gaps or rally to 1218/20 then do the wave 5 damage.
I think we rally Monday Tuesday BUT WILL REMAIN IN BEARISH ETF's longer term.