Saturday, October 27, 2012

EOM rally

 We have the John M 13/34 ema right in the sell area but not happening. When yellow look out below.

Right on the sell line!!!!! 3 sideway days not helpful ...
 P& F ready to break down but hasn't .
Looking  for 1350 but since it had 1500 ear marked I would say for many reasons 1375 is a target  IF..

The king here has a new buy bias on 10-26 and I will stick with 1425 to 1433 strong resistance.

I will guess 31st and Nov 1st as EOM rally days

Volume and Spread sheets tell me we are in limbo,
so news like  Sammy not that bad could spark
a rally.
Earning are under pressure so expect a short lived

Wednesday, October 24, 2012


Today was a 144TDL  with a 144TDH on Nov 1st.
We could kiss 1400 tomorrow or lower but I think next week will be up since it is EOM window dress.
Will Wall Street be open? We get that rain with Wall Street lower than sea level it's in trouble.


Targets on the upside is 1425 and strong resistance 1433.81.
With the PC at .99 and a trin of 2.74 a rally attempt is ahead.
We had upvol of 12% so over sold.
Soon the down side target will be 1376.34    or    1370
We have a 144TD hit Thursday.

 Looking at the VIX breaking above the 54 ma shows a lot of weakness ahead, doesn't have to be tomorrow.

 200 DMA  picks the hot spot with fibs support.
Using weeks here is a possible area for the 2012 low  but on a 90 TD basis I would look for Dec 14 ish.

Sunday, October 21, 2012

Day 20 of 40 TD cycle Monday

Monday is the 20 TD cycle but the low for a few days probably was Friday.
If we look at the volume bar circled it has the bottom look.
I think we will attack 1438 then strong resistance at 1445-1448 with a fictional double top at 1451/52.
Support is 1425 then 1410.

Best Jerry