Saturday, June 23, 2012

Low in volume wise, uptrend

Looking at the MEBOB indicator but not as strictly as he goes I see an upward trend for this month of June and it matches the seasonal pattern of early July strength.
1-1 was low to high
2-1 was low to high
3-1 was low to high
4-2 was hi to low
5-1 was hi to low
6-1 is looking low to high ????
7-2 could be high to low ****

Thursday Close
Guess I'm the black cat because today looked more like a STL or a 1 day later 55TDL
These markets that plunge into the close near the LOD seemed to have dead cat bounces.
Look for a lower low then rally. IF we can't close above Thursday close then more down.
trin 3.43 and a few vol spikes.

This chart on Friday has the low in for now. Jerry O

Sunday, June 17, 2012

Bernanke Wed and new stink

I have the cross hairs of a sell but with Bernanke Wednesday we could go up another 10-15 spx points.
That AGET sell failed-DOA nest day.
I don't think the angle I drew a week ago will stop us but it could. (red)

If we did turn down here it could complete a w4 and ran us down to finish w5. or it could be trying to finish a crash W3 or C wave, time will tell.

As far as Friday my spreadsheet put me in a cross hairs to a sell.

However this volume chart had no spike Thursday or Friday making this move not complete. It's not Greece,
it's the world.

Japan could default in 2014-15, India
on the Cusip of a down grade. This is new stink.