Thursday, April 23, 2015

Cycle high

Weekend and first of Month.
Still look for 2044 Spx this week. Full Moon. Sell still in effect.Over bought. If we gap higher then I'm totally wrong.
Jerry O
Wed 4-29 -15 close update
Broken record again.  Received a MA sell and a mechanical color sell. No EDT buy this time.
We did have an inside day I usually consider that bullish, however we had a -16.68 drop in momentum vs a drop of 7.91 Spx points. That calls for a lower price. If the market was to follow the DAX level we would be at SPX 2044 or Spy 204.5. My call is a sharp down at some point Thursday.
Jerry     EOM position challenge.

Monday close update.
Received a MA sell and a mechanical color sell . However you can count 5 waves down and a EDT signal also posted. I think we need to watch Dax for weakness, need at least Spx 2097 to get the bearish juices flowing. No charts tonight.


Still think we are near a cycle high and one more day could put the MFI into OB and the DPO giving a better signal.

30 CD Cycle looks about right. On 2 -25 we hit a high and closed 6-8 points below the high.
On 3-23 high closed 6-8 points below high.
On 4-23 high close 6-8 points below high with following.
A cycle H+H+H  look very good here. I expect a few days of strong weakness
Is this a top? Probably not because the 4.94% model would have us at Spx 2160  today.
I have a 4td MA on the MFI, very weak here. A better fit would have been O.B.

Sunday, April 19, 2015

NO technical damage YET!

Other then the NYA we have not had the technical damage we would hope for.
I have a chart with $DAX over $SPX both are holding, but $Dax did plunge first and all eyes will be on it tonight.
I also have a $DAX lower in that chart with the 50dma just to show you we need a big break in the trend is going to change. The money flow did take a crazy dip on Thursday close
Erik Hadik says we are in for heavy selling I hope he is right.