Saturday, August 25, 2012

I like this cycle

I'm going with this cycle unnamed as of yet.These cycle have been working well but not calling the aptitude.
I have this low on Sept 7-10th +/_ 1 TD. The 8th 9th are weekends

This will conclude with a 110 TD low from 4-2-12 or 1422 Spx.

click image to enlarge.

We seem to test the up trend line again and again but have held close to it. A break will be trouble for the bulls. The bulls BTW are buying oil,gold,silver,in the hopes that Uncle Ben will pull the QE3 trick.
Will he help Soros make even more
or will he understand it will be hyper inflation and stag flation.
I don't think he can win this one.

Why Friday was a dufus rally. The EW boys are all happy and saying this will lead us higher. I will show a divergence on the bottom of this chart where volume is not confirming this rally so look out below. 1405.75 could start a fall.

The technical high is in and we need a technical low to get back in the game.

One worry the EOM rally.

Thursday, August 23, 2012

Thursday Intraday 1414.15 is key

We take out 1404.15 on the close then 1390 will be quick. Nothing on volume yet