Tuesday, January 19, 2010
Jan 19th update
As I mentioned b4, the MAIN problem with using this graph is determining WHERE
one day ends and a new day begins- most especially over the weekends,
and of course with a holiday added for Monday makes it even more complicated.
So, now we have to see where today peaks out and we did mention 1145
which has been exceeded
some of you have data which shows where the buying is coming from,
and of course there seems to be NO desire to sell-
SELLING usually accompanies some news to create selling-
or at least they make it appear that way for the most part.
Regardless of these small moves within a 13 pt range
it still appears we are making some type of intermediate peak this week
to top out on Friday, possibly late Thursday,
and the exact timing is still not available yet.
So far the HOD was at 1pm, one of the hourly turns
with the first high at 11am
a minor low at noon at 30bars as indicated.
If that remains as the hod, then our ORIGINAL
call for a high at 11am got extended to 1pm. - not unusual at all.
I found a chart of SPX for 1998 to 2000 and will put it up next time
I had written in the past that I expected 2010 to emulate 2000,
and it still looks that way to me, thus making 2011 the BAD year, and or 2012
Which means that any sell off would get met by a near equal rebound
albeit some what less thus making lower highs and lower lows.
And this outlook ALSO has similarities to 1938 thru the 1942 lows
and it would make 2012 equal to a 70 year TURN