Trend is UP, top watch

On Top watch.
OOps,
I made an oops when I failed to belive my trend program.
I should have offered an aggressive buy on 9-2 @ 1080.39 the best you could have go, with a gap up open. Next on 9-7 it offered a 1104 cit that hit on 9-9 had I reported it a better price was at hand.

SO TREND IS UP.
I will add a target of either 1121 squaring 1039 or a fib of 1130 all Spx
What we want is a shot to one of these numbers then a close below day before.
I will add we have UP pressure at this time since that secret number is above 50.
We also had a small move in a ratio that offers a big move. ( could be round trip)

Support 1091 both break even and real support.


Will the boyz come back and sell this???

CIT in the works.

Breaking above 1105 spx if it holds, puts the trend to up.
I don't know :( I'm in denial fighting my model :)

So many have the EOY at spx 1250 based on earnings that are as we know, from cuts not expansion .

Compression week working

Compression week is working as the tight range is getting ready to bust out, as I start to get over bought
Lets put some numbers on this. Resistance at 1105 still holding.
Spx 1105 we rally, 1090 we test lower.
Longer term to see how important this R line @ 1105 really is,is this chart of the SPX market. We test the lower line again it won't be friendly.



Click chart to enlarge..................................

Resistance 1105 spx

Strong resistance at 1105 Spx. Downtrend line, fib hit and SQ 180 degree from 1039 hit.
As far as the trending model it offered a aggressive buy at 1080.39 (9-02) not reported.
We have a bullish CIT if we remain above 1088 for Tuesday.
Next few days should tell us if this was a violent bear rally or there is legs under this market.

Our 1122& 1082 purchase we covered at 1070/71 or at the market when I posted that info, so at least 62 spx points bagged that should be at least +$1500 depending on the 2 etfs.

Flat till model can catch up.

We sold at spx 1070/1071 . I will stand aside now till the air clears.
The big rally was not seen sorry to say.

Still looking down

Edit Wednesday Night .
Still not over sold and looks like max pain is 1050 on Spx into Friday so we watch.
We could center that price by Friday.
J.O.








Holding short or in bearish ETF.s
We never got close to 1070SPX so we hold. I think low is days away yet.

Think about covering.

The Friday low looks to be here. Not as low as I had hoped.Friday at 2:35 Pm ET you can cover your shorts at 1070 if hit or right now @ 1062 if you want, but this may only be a gap fill to 1067 and for sure it is an over sold bounce.
You bought a bearish ETF at 1122 or better on 8-9, a second on 8-12 @ 1082 and a third @ 1060 on 8-24 but I didn't report it, because a long term cycle.
Still 1060+1082 =2124/2=1071spx
1122+1082=2204/2=1102-1070 =32 point capture.

Trend still down til it isn't . Thursday Friday

I still look for a low Friday based on patterns I see. I thought I could add a spreadsheet here with the count. I can't! I have been calling for Friday low since Monday we will see.


Any-who I have a 144L Friday. and a 144H Wed 9-1-10. The Low so we get the EOM window dressing rally anyone :)
Todays high looked like that time frame. I think the HOD is in by 10:30 am Thursday26th and we go down rest of day.

The alternative is the low is at 10:30am and we rally all day. Use your own indicators!

Jerry went a blog'en

Wednesday 25th rally how powerful?

Wed 25th :
I don't think the rally will be as powerful for Wednesday as I first though. I wanted a close near L.O.D. Come to find out the Yahoo live chart I was watching had the low of 1048.88 ^spx when in fact it was 1046.68 so close, was not near the L.O.D. Then the ^vix spiked higher showing a lot of fear by investors. As long as it stay's above the 50dma it's bearish.
I will stick with resistance at 1085/88 ^spx but look for 1040/1010. Wait Jerry O you missed it by 6.68 points and that is not good enough? Not really a take out of 1040 opens the air pocket to down.
The market is over sold, but not sold out. Time will tell if they will write songs about me :)


I post at Khalsas pad and Time & Cycle group.

24th of August

We had no violation of the 1085/1088 area, that could be used as a stop loss, but the breakeven is 1102 if you want the path to bigger fish. I'm hoping this down trend will be in the 90 day time frame.
Pure speculation for tomorrow(Tuesday) but if we close at LOD (low of day ) or near it, it should be bought, as Wednesday could be a 1 day wonder up!
So far target is 1040-1010 SPX or SP500 and then see how oversold we are.

This is for fun and games. Contact your professional money manager and let them spend your money.
Jerry O
PS no charts tonight since no violations