Down till Fed Thursday, perhaps, or target

LET ME SAY IT IS HARD TO ORGANIZE THESE CHARTS.

This first chart shows we are just into sell territory using this indicator StockChart.com.

Read disclaimer not investment advise.
Click charts to enlarge.








This chart of mine has several scenarios all lower unless we take out 1379.94 on the upside I plan to remain short for Monday.
My target was 1358 Spx but my excel sheet now likes 1338 for an oversold reading that could offer a more sustainable rally.
The fact that the Spy went -.51 after the close is on a DAILY BASIS bearish
a weekend basis maybe not.


I hope these Gann boxes will offer more direction









Why should you worry? http://www.websterscommentaries.com/
of who is in deep trouble and growing.. Kit's site offers this chart.

Or many because of how the hedges are selling even Germany.
http://www.dailyfinance.com/2012/05/05/hedge-funds-betting-against-the-eurozone-why-you-should-worry/


That grey chart offers how the market looked in 1992 the last time a socialist ran France. As I recall that time period the economy was running good not like now where the cheap $$ is the only game.



























This chart shows we were not
oversold on the close. May mean nothing but with Spy selling -.52 after the close could offer direction, not as reliable as daily.







Federal Reserve Chairman Ben Bernanke will speak about bank lending in Chicago Thursday morning. Speeches from presidents for the Federal Reserve banks in Richmond, Minneapolis, Dallas and Philadelphia are also on tap.

AGET has downward Bias

Look at red lines, track record is good.
A move above 1415.31 will kill the bias.

The time and price are right!

The Gann circle looks great and with the back off today even better.
Why do I say time is right?
The 1422 high ( Spx) was the first day of April, 30 degree later a near high on the 1st of May. If we take out todays high and close above it then this scenario is dead.
Advanced Get has the daily Dow in a wave 5. The weekly Spx is in a wave 5
so the daily is an issue.


If we break higher then here is scenario #2 using pitchfork,cycles,
and Elliot targets.

Click charts to enlarge.

I will add I never seen the oversold levels to promote this rally so it could fizz just as fast depending on a few more earnings.

Jerry O

Will it happen?

These Gann fans always look nice, but I have seen many fail.
Just a scenario!