Saturday, September 29, 2012

STill 1430 Support 1500 R 10-22Low

Last week I said 1430 support and we stopped at 1430.53 . The week 1430 should break and take us to 1400 real quick.I look for a low 10-22 at 1390.xx cash.
The above charts just shows the weakness we all know about, but a chart is worth 1000 words.

Monday, September 24, 2012

Trans vs Dow update

This chart above is how Stockcharts explains the Dow Theory.  The chart below is several charts  of Tran/Indu and several bare charts to help get a view. If you wait for the Dow Theory you will leave a lot on the table.

The common wisdom is if the transports go down the market will follow. Going back to 1999 I find that a little hard to prove. I'm open to suggestion because I maybe looking at this chart wrong but there are times the trans seem to have no effect on Spx. I draw a few lines to help line up the Trans with the Spx on the bottom.


Sunday, September 23, 2012

1500 Resistance 1430 Support Spx

1500 Resistance 1430 Support Spx. Till some thing happens I guess these are the cards.
My 40 TDH hopefully came last week and we can correct. First down Friday in 8 weeks.
I'm still overbought. Can the Transports lead us down yet again, or will energy tumble.
Click chart to enlarge.