Friday, February 20, 2015


update close 23rd
So far not ready to fall. We are over bought.There is a 96% correlation to the 1956 stock market that was a very choppy year. We need a gap down at the close to change the air or pattern.

Going to add a few charts I think worked.
Looking for Spx 2010 by next Friday the 27th based on this CIT on today's close. (19th) Hopefully it will be  WAVE A of an ABC  as pictured below.

click charts to enlarge   Jerry O

Wednesday, February 18, 2015

Oil in free fall?

Update posted at 10:30 Pm on the 18th
Reviewing my work *I see today is an inside day -I usually consider that bullish if it is near a low but I don't think we are at a low so watch that one.
* 4 TD  sum of volume is low showing confusion with traders.
*Blowout days. I have not spoke of that of late but today was the lowest reading since the last high on 12-29-14 .  FWIW.

I don't know if OIL rules the Stock Market or not but looking at these charts I would think it has a big hold over the market. The only reason I bring this up is the big dip in USO and OIL today the 18th Feb.
After hours the drop continues. I write in Red because I'm bearish.

Jerry O
I expect fireworks with the options this last 2 days.

Tuesday, February 17, 2015

Down Wednesday

Today was not a good day.
We jammed the close.
We had the Vix up with the SPX = down next day ( 85% of time)
The market internals were not great with deciners more than advances. The last 1/2 volume was a hedge trade I would suspect.

Monday, February 16, 2015

2088 on watch for Tuesday 2-17

The last high we had was on 12-29-14 @ 2093.55 Spx leading up to that we had 8 days in a row of higher highs. Currently 2-13-15 we have 4 Days of higher highs. If we look at the Market internals for the 29th we see a strong thrust into the close with 2/1 advances but nothing as strong as last Friday where we had 190 new highs only 5 new lows and 2/1 up volume. Friday the 13th was much more greedy all around.

I don’t give it more than 2 TD if that greed rate keeps going.

The Advanced Get chart I have built offers a pitch fork nightmare putting us right in that triangle. I offer 2088 as a line in the sand.

You will notice AG has us in a Wave 5 configuration so a sharp move down of 100 SPX points would be expected when we turn.

Is this the final top, I have no clue.

Jerry O