Are we at a top NO!

 Click image to enlarge.
Why do I make a bold statement like that? History.
* 1st Chart is 2007 high where the Dow and Spx peaked together with a 16TD cycle (roughtly)
That Oct 11th was a GREEN DAY
look at Color days to left under favorites. Volume got heavy 16TD before top.

Next we have the chart of 2000 highs
You will notice or still remember that the Dow did the job on Jan 14th
 2000 a RED DAY and the SPX hit a high on March 23rd  with Dow close, a 16td pattern and a BLUE DAY


The 1987 CRASH, I don't have a chart since the data is hard to find.
Here is what I found out.In 1987 the heavest volume was a Aug 11th a BLUE DAY  and 10td  before top. On the Dow the actual closing high was 8-21-1987 a GREEN DAY.
Yet the Dow theoretical high was on Aug 25th and the Spx intraday and close I 337.89 c 336.77.
A GREEN DAY. Funny HANKS says a green day is go, I say run.
StockCharts in their history charts show 335.89 spx I don't know what gives there.

SO GREEN days are high on the list.
Early heavy volume and 16TD, high on list.

AND SPX MUST HIT A HIGH near the DOW.
Yes we can have a big correction but it won't be over till the SPX  fat cats sing!
Jerry

Wave 3

Charts look weak, BUT!

 NYAD getting weak?

 SP industrial getting weak?

 Daily candle looks on a sell.
Oex P/C ratio .80 too bullish?
not shown.

 Stocks above 50dma breaking down?

Black line is Spx vs Dax.  Dax is breaking down can Spx resist?

Dax vs Dow

 I don't know the Spx Industrials are looking weak.
The market could be playing rotation and this group will catch up. If not look out.

Here we have the Dow vs Dax.
If the Dax was leading and now falling some thing has to give. The DAX is down  264 points in 13 TD's

AAPL resistance ?

Click to enlarge.
AAPL  hit a double bottom blue line, then hit the support green line, only to break down to the gap fill. It has now rallied back to the green now resistance and circle gap.

$483.10 could stop it cold .

Jerry O



More- Nightly business report:

Year of Snake down 3% since 1900 .

Monday Feb 11th was a weird day. It was neither SU,SD,inside day or outside day. I had to go back to 12-29-2009 to find the same and suggests to me we could test 1500 by Wednesday Spx.

Tops rwo

The Fib Queen
Watching her the other night, she has 2 favorites. The 8/34 MA  and 1.272
If we take the 11-16-12 *closing* of spx 1359 *6.272% we get 1446 the almost exact close pivot high on 12-18-12

So if we take the 12-31-12 pivot close low of 1426 *5.272% we get *1520* close.

Now 1520 close can't be a top because we need a candle like this for a top!


http://stockcharts.com/school/data/media/chart_school/chart_analysis/introduction_to_candlesticks/candle1-longshadows.gif


Many will shoot this down. LOL

So let me say it this way. If 1220 close  is a top, intra day we need to run up to ideally to 1229+

thoughts?

Looking at Tops

 This is a weekly view of the SPX just to see if things look right or wrong.
First is 2000 top then 2007 top and current market.
Jerry


The look ,could they be waves?

Oex P/C ratio 3.26

 OEX ratio at 3.26 offer a big move. I think it will be down. Yes Dow futures are up +33, what me worry.

P&F suggest a 1370 target

 This charts looks to be weak as stock about 50 dma are not looking  so well.

Spx industrials are weak and have a sell


















 RSI could be a sell