I have no reason to doubt charts edge projections this weekHis charts and predictions are not expensive and easy to read
sometimes they are quite good, and sometimes not so good, but worth having
regardless
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JUST A NOTE OF CAUTION ABOUT USING CHARTS EDGE
ITS FOR GENERAL direction only -
do not use it to get exact SPX pricing
NOR
exact turn HOURS
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I had previously inferred an UP Monday and still think it is correct
Monday we have the typical hours
11am
1pm
3pm
plus or minus 10 minutes either way for directional turns
Pivot LOWS
The 50%/13 day cycle hit at 2pm Friday March 27th - EXACTLY
NEXT
the 55% /13day cycle is due at 11:29 on March 31st
62%/13day cycle @ 10:43 on Tuesday
100% /13day cycle on April 7th at 10:30am
Monday's bars
126b@ 11;30am
150B @ 1;30pm
180b @ either of 4pm or open on Mar 31st
lets piece the Monday puzzle together
A bar cycle & 13 day cycle are hitting at 11;30 am, and that should setup a trading low
should you wish to buy into it, or to sell you shorts if you still held them over the wkend.
Then a 1pm and or 3 pm high should give out to a close that's off the high
Tuesday has a 13 day low at 10:43
and 204b @ 11;30
the pic above doesnt show those cycles, so do be cautious
However, a MID DAY high AGAIN at 1pm does appear to me very likely ,
and does seem like a very good place to buy puts which at this point in time look
good till April 3rd. & or April 7th
Now just remember these are FUTURE projections and will be updated
as the week progresses
My power index and propensity index are both shorter term measures
Natural energy is powerfully negative for April 3rd
and there is a Bradley date on April8th
along with a midnite low tide
As written b4, the first 8 days of April tend to look difficult for everyone
including stock prices
More Later
Jay
8 comments:
Jay -
Your so right. Charts Edge charts are really good, but when they are wrong (not often), they are wrong by 180 degrees.
I'm really glad to be a subscriber.
Steve
I'm skeptical of Charts Edge forcast for Monday, the 30th. Interpolating the chart, it looks like a dip to to about SPX 811 or so. That's quite deep, and being so, the bears would like to take over. I'm on the side, if we break below 812.5, the current short-term trend line, we're going lower:
http://photos.plaxo.com/photos/get/49/0/84/90/380/1587881-l-0.jpg
You have a great blog going here, Jay.
Coy
Jaywiz,
Dave Iler from Crystal Ball.
Phil Grande is mentioning that the markets are likely to hold up through quarterly window dressing so managers can report better results.
Makes sense to me.
I've been reading your comments for a while, and enjoy your site.
Thanks COY
YOU cant USE charts edge
As AN EXACT measure
Its good for APPROXIMATE Direction ONLY
The 13 day cyle at bars indicate a low at 11:30, then a new rally
BUT A very short lived rally
GOOD ENUF to get short
Jay
Quarter-end markups are just hype.
One of Quantifiable Edges recent study:
"First I ran a test which showed the return of the S&P 500 on the last day of each quarter going back to 1960. Of the 186 quarter-ends over the period, 90 have had a positive last day of quarter, 94 finished negative, and 2 were basically dead even. The average win was 0.065%. The average loss was 0.06%. The net average day was 0.001%. Not even as good as an average day over the period."
http://quantifiableedges.blogspot.com/2008/03/what-are-chances-market-gets-marked-up.html
Getting a nice rise in the US$.
Dollar goes up, then Gold down, Gaso up, Stocks down.
http://www.quote.com/us/futures/currencies.action
I always liked Charts Edge too.
As for the rest of the month I see profit taking. These opportunities are far and few in between in a bear market, and the boys probably need some cash.
Jay. Just wondering if you could repeat where you see a top before we head down into June/July and the 1 year cycle. Are you looking for a top around the Jewish Passover April 10/11 or do we never get back up above last Friday's high?. Just curious what you think or any body else for that matter. I have an idea but would like to compare forecasts.
Alvin
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