9:00: the futures are trading slightly to the downside in pre-open, currently projecting the SPX CASH to open around the 1107 figure, plus or minus. heading into Tuesday's session we have first support at or near the 1102 level, which is the current daily projected support low for this index. resistance will be first at the 1116 figure, then more important at the 1121-1122 range, which encompasses both the current daily projected resistance high - as well as the larger 50% retracement of the move down from the October 2007 high to the March 2009 bottom. I think this 1122 figure will also be important closing resistance going forward; In other words, a close above the same - if and when seen - is also likely to constitute a major breakout to the upside, while holding below will allow for a continued consolidation (and ideally a correction with the 20-day cycle). daily chart has the major 45, 90 and 180-day cycles headed higher into late-December or later, while the smaller 20-day cycle has either topped at yesterday's high - or else has a slightly higher high between now and Wednesday's session. intraday today, the patterns may favor weakness into a low in the first 30-60 min of trading, then up off the same into early-afternoon - then potentially weaker again into later in the period. here is the hourly cycle/channel chart updated to yesterday's close: Jim
I think we see consolidation for most of the day today before making one last rally before da plunge swing trade down.myagi
slow sideways trading so far favors we are in wave "4" of (5) with 1120 the favored top. Larry
I wonder how bearish Meredith Whitney will become when we hit 2010 & really blast upward, after the 18 yr cycle low of course ! The Flash
watch the Dollar today, it's up pretty strong today. and if you have the ability to watch a 5 min EURO chart, watch that - in Tradestation the symbol is EURUSD.Matt
The dollar was up huge today, but the market held up well. Once the dollar comes back down we should rally into the close. 1118 is the next target and then 1150+. Loading up on tna here.ptg
Resistance today at 1115/1120 and support at 1103/1099 Larry
ptgsorry to hear u have to pay for some TnA.loly
I expect the 3 major indexes to track higher following the New Moon at 14:14. Should top today.
market's are flagging on intraday. Should have a nice rally soonx
JImThanks for your detailed analysisIF you go back to the main page and see the natural energy chart.SHOWS a HIGH on 16thLow on 19threbound on opt ex daylower on 24thTHE most important feature of the next 2weeks is that high on the 25th and of course what follows into the 30thJay
Coythanks. Sounds about righty
Right into the bell.
Coycheck your emailJay
Break of 1101 target gives 1095Fred W.
12:07Break on futures or sp index?
Dip around 13:25.
I haven't received your message, Jay.
Do u think we get to 1120 today Jay? Just loaded up on fas. Seems like the market wants to head higherc
If yesterday's strong internals and volume are any indication, today market is just taking a breather b4 heading higher later. 1120 or 1118 looks dead on for now
JayWhere's my message? I'm important too, ya know'lolx
Looks like another wave down might be in the cards before she goes higher. We could be in a "b" of a 4th wave down .rex
Hi Coy,If you don't mind me asking, are you expecting a high today at the close or at 14:14 based on the New Moon?TIA!
Clear sailing from the Full Moon, 14:14, to the bell, 'cept for a teeny hit at 15:05. Sticking my neck out, calling the top at the bell.
Thanks Coy and do you still see the closing tick as a top, at least a short term top? I still think "they" might ramp it up one more time on a gap up tomorrow am but I guess I need to watch the close first.Best to you!
Tomorrow is another day, and frankly I'm not concerned about it now. I'm seeing an accelleration before the bell, and this, to me constitutes a top of major importance.
SPX is done for the daybtw. Do you see the wicked negative divergences on some of the other indexes. It's a beautiful sight.y
I expect another up-wave right into the bell.
Coy... U DONE GOOD :)Congrats and thanks for sharing your work!Best to you!
DOw from 11:15 low to close looks like a possible EDJay
wow futes are blasting up ah now 1110 also euro blasting up but dollar up also .....wow
Who is this imposter ptg. Why r u impersonating me...that bored? Anyone notice that oil might've broken out today? Look at a long term daily to see what I mean. This market should keep rallying.ptg
Iam the original.Get lostJay...remove this guy. This is an outrage!ptg
This market is going to the moon. All BULL and no time for bears whining about crashes and 10% corrections. The powers that be will not let the markets fail for too long. We had our ochestrated crash. Now it's party like it's 1999.Booooooyaaaaaaaaaaaa baby!!!!!!!!!Let the good times roll right over all thise stupid perma-bears.ptg
yep ptg i'm short holding until dec 2nd for that full moon and the low heheheheh
big headfake stop running move on the futes its almost all came back off we must be going to drop all night now after that little trick
Not much to say, it's really on auto pilot right now. The SPX is going up in wave (v) of [v] and more than likely will reach its 50% retracement level of 1121. This is opex week, so it's automatically an up week, just like all the rest since March. Next week will be interesting with the short week of Thanksgiving. I can't imagine they let the market crash in front of Turkey Day and not to mention the biggest shopping day of the year, the Friday after Thanksgiving. So, anything can happen really. The wave counts and the channels both say its due for a trend change. But, in these highly manipulated markets, it's anyone's guess really.Tomorrow I expect a gap up in the morning or shortly after the open for wave iii of (v). If the dollar doesn't start to show some strength, then we might start talking about the 61.8% retracement level. For now, if you must be short concentrate on that which is showing weakness: banks and the Russell.alphahorn
MKT: make that 1173 SPX up to 1190 if we get past SPX 1110 & 11/23/09; Nite 25 minutes ago from web MKT: SIMON gave me 1190 if we get passed 1110 on the S&P & 11/23/09; we will know shortly; Whewwwwwwwww The Flash
Post a Comment