Targets

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.

Jerry

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.

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

way off-count change

I keep saying all year the market was not over sold enough to have this big a reaction. Sure would like to know the algorithm the street computers use!

Here is a change in AGET with the count chaning to wave 4 from wave 5.
Also AGET (mob) had a target of Spx 1425 I felt we would blow through that to 1410 ya right.
The bias has given another buy.

Looking 1410 Spx by Tuesday

 More of the bear look click charts to enlarge

 NYAD ready to fall?IF it does you can see the target at bottom.

 My 1410 target spx and volume review

 If it turns yellow it will be too later. 13-34 is a little slow buy a good indicator.

 6 TD moving average on P&F

 Could be the crash wave,
or just a normal wave 5 sell off.

This is not my chart I think it was Stockcharts.com but it shows Q3 will be a
big failure ay least in my mind set.
How so? Well the old adage the market never
reacts the same way to the same news.

Market weakness is appearing.

Here we have the Railroads. After the gap down and break of support they tried to recover to gap fill but have failed.

 New York  adv/decl showing real weakness. You can see real downside if this pattern continues. Blue line suggests a target

 This chart I never got posted here the other day. At that point I was looking for 1430 now the possible target is 1410. Volume is in no mans land usually bearish till we break out.

 Stock above 50  dma are in trouble but this all can change in a heart beat. We need to get under 1390 for that to happen.

 Here I have put the Bollinger bands on all schemes. The blue line just shows a point in time thatbecause we have hit BB and 50 DMA that we could go a few more lower.I would say we are MOB ( make or break)

Click charts to enlarge.  Jerry O

STill 1430 Support 1500 R 10-22Low

Last week I said 1430 support and we stopped at 1430.53 . The week 1430 should break and take us to 1400 real quick.I look for a low 10-22 at 1390.xx cash.
The above charts just shows the weakness we all know about, but a chart is worth 1000 words.
Jerry

Trans vs Dow update

This chart above is how Stockcharts explains the Dow Theory.  The chart below is several charts  of Tran/Indu and several bare charts to help get a view. If you wait for the Dow Theory you will leave a lot on the table.

The common wisdom is if the transports go down the market will follow. Going back to 1999 I find that a little hard to prove. I'm open to suggestion because I maybe looking at this chart wrong but there are times the trans seem to have no effect on Spx. I draw a few lines to help line up the Trans with the Spx on the bottom.


Jerry

1500 Resistance 1430 Support Spx

1500 Resistance 1430 Support Spx. Till some thing happens I guess these are the cards.

My 40 TDH hopefully came last week and we can correct. First down Friday in 8 weeks.

I'm still overbought. Can the Transports lead us down yet again, or will energy tumble.

Click chart to enlarge.

Probably a little higher.

• Chart #1 shows a fib circle with higher out prices possible.
• Chart #2 shows the strong resistance area from yr 2000 and yr 2007 also suggesting we could hit the grey area
• Chart #3 suggests 1495 or noted out come.
• Vix + Spx suggest Wednesday up as does upvolume.
• Still very overbought but that is when s**t happens.
• Oex p/c ratio tells me nothing.
• I have a 40 TD cycle on the 21st most cycles have been lows except the  4-2-12 (1422H spx) and the  5-1-12 1415H 20 tdc so we are due for a cycle high.

THE WHAT IF BAR DIDN"T HOLD FOR THE SNAP! but you get the idea .

More charts from my Stockcharts.com site.  
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=1045838,1&cmd=show[e273048185]&disp=E

Jerry

Monday down 17th

Top chart upvol down on an upday calls down Monday
2nd chart we have come down under the blue line once we go above it a correction should start..

Nice gann box showing perhaps a completion. And the Get 5th wave.
Wave 5 is longer than 3 probably not legal.