Update 12-23-14

10-23-14 Market closed.
PRO's-I see no reason yet not to be bullish. All MA are on buy's. We remain above middle pitchfork so strong market.

CON's WE are at a minimal wave 5. Keeping the support at 2035 incase of a fat finger trade. Will move it up soon when we see how weak the first down day will be. NAS and Rut were weak today. New highs are where trouble can start.

Spx 2169 by Oct 2015?

First the Short Term

Nothing goes up in a straight line so we have to expect some weakness sooner or later.

Even thought I’m bullish,I have to keep a S.T. worry on the table. That is we could have a failure soon and a big drop.Many of my friends are in that bear camp. I think there is little worry but need to keep eye on supports. Personally I think we have low volume  with a higher tilt week. SUPPORT @ 2039.50  SPX CASH ALWAYS.

Click Charts to enlarge LONG TERM View
WHY Oct  2015, 360 degree of Oct 2014 low.   Jerry

New worry Wave failure

Click chart to enlarge.
New worry. We have broke out of the pitchfork that is not sustainable.
You would be hard pressed to find such events.
The other worry is a wave 5 failure or wave 5 top.
So key area is 2079.47 the old high.
Friday will be important day for all of next week.
Jerry

Whats not to like?

 Looking at interest rate stock that should have better days ahead with rising rates,I show one on my 2015 picks.
Double bottom and ending 5th wave. There is a list below. Buyer do your own
D.D.

 SPX ---Well we had an inside day by .14.
I like inside days as being bullish. Lets hope we go no lower than 1991 the original support line. Soft open can lead to big things. Or yesterdays close + today close /2  offer almost same support. Wave 4 support on chart. click to enlarge

Here we have my MA crossing another bullish sign if we can stay up.
2020 seem key number not my number but sounds good.
A straight shot probably not.


Jerry O

Fun and games

If I was to buy a group it would be these.
I do own a lot of FSC some bought yesterday.
Some under water.
They will love higher rates and will not wait 6 months to get on board.
( Scenario market 6 months ahead.)
Jerry

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FSC	03:48pm EST	7.94	+0.12	+1.55%	1,196,394	Chart, News, Stats, Options, Board
FULL	03:45pm EST	4.599	+0.01	+0.20%	89,184	Chart, News, Stats, Options, Board
GARS	03:44pm EST	14.20	0.00	0.00%	48,598	Chart, News, Stats, Options, Board
MCC	03:49pm EST	9.04	+0.20	+2.26%	775,812	Chart, News, Stats, Options, Board
MRCC	03:33pm EST	14.095	+0.01	+0.04%	27,842	Chart, News, Stats, Options, Board
NMFC	03:49pm EST	14.27	+0.13	+0.94%	409,448	Chart, News, Stats, Options, Board
OFS	03:33pm EST	11.96	+0.48	+4.18%	12,887	Chart, News, Stats, Options, Board
PSEC	03:49pm EST	8.47	+0.15	+1.74%	4,887,147	Chart, News, Stats, Options, Board
TCPC	03:48pm EST	15.655	+0.17	+1.11%	356,188	Chart, News, Stats, Options, Board
TCRD	03:48pm EST	11.73	+0.42	+3.71%	208,742	Chart, News, Stats, Options, Board
WHF	03:43pm EST	11.3701	-0.1599	-1.39%	55,507	Chart, News, Stats, Options, Boar

Could be within a day.

Click chart to enlarge.

OK my 1982 was hit today.. We could be at that very important point in time..
Auto gann say's this is important point. (arrow)
My target area.
MA confirms but has not turned up.
Normal 90 point range is in.
Looking back over the years the 18th/19th could be up strong 
Need a close over today is #1.

Cons    6 TD is very fast and if we are going for 200 points down, then pink ball is target.

Jerry


Tuesday late night. Well it didn't work today so till we see a higher close, all you can do is pick support.
Lower highs and lower lows are not telling.

My thoughts

Support seems to be in yellow area. If we look at the last  drop on 10-15-14 where we had a 50 point intra day drop, then adding the close of 2002 -20 puts us in that same yellow area of 1982.
I know many have the 26th as a low but the market seems to move to fast.
Bye the dips  still envious.

We take out that 10-15 low then the bull is over.

Hope to post soon.

http://www.mysiteforsoreeyes.com/Bobs%20Downloads/mechanicpounding.gif


Jan thru May was tough for me. My heart went out of beat and it took 10 months  to get better.

April /May 2nd

Thursday model said Fri would be down. Now Friday model is saying Monday down.
A simple model says Monday low is also a buy.
How low??
The Spx  100 sma is @ 1835. P&F has 1850.
If we look at my zig-zag wave chart I have 1845 as strong support based on b and d. As alway the opening gap is usually the day leader.  I would like to see us plunge to the close.

Wed-Thur-Fri

Nice if we hit resistance of Spx 1884.89 yesterday high and fail.
Earning are supposed to be sour as time goes on, does the market look ahead?
Model not all that telling except an o-b signal.
I have to get my car inspected and have a Dr. so will watch from mobile one.    later review if possible.  Jerry
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12:30 PMModel not impressed today. If we can't go down more than what we have seen then a rally tomorrow is very possible.
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Late report: 3:55pm I bought a call oex.
Model still saying todays action was bullish for Thursday.
I notice we have a TD high Friday. The highs should be in very soon-days.
Any time now.

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Thursday  1pm  Model looking for a down day tomorrow (Fri)  If we hold this area. Will  retest at 3:30 today. Jerry
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Thurs 3:40pm still pointing to down tomorrow after a CIT high.
Last 5m vol rush can change everything.