Wednesday, May 11, 2011

$SPX - May Timing Update

An additional bounce to form more of a rounded top would look best.  I consider this market to be dangerous at this point in time though so caution is warranted.  The minimum requirements according to this cycle have nearly been met. 

We do have a triangle that has formed with the apex May 20th.  Many timing cycles are now converging on May 20th.       

I am watching intensely, and will post additional details as available.    

30min Chart

I am also pleased with my 2007 top cycle.  It has been quite accurately predicting the significant movements. 

3-day Chart


  1. Nice call on Rounded Top for yesterday (sold out on Tuesday and shorted yesterday).

  2. Yes, Thai the target is far down. The reasoning and calculations that I have done previously are still valid. I will likely tweak the target slightly though because the top came in a touch higher than my estimate. My targets have been typically conservative.

    I plan to show charts with target prices soon. In the past I have shown the target prices early, and reflecting back, I think it is better to be more patient and show those targets nearer to optimal timing.

    Most important is that there is a certain bottoming pattern that my cycles indicate.

  3. Thanks 928, nicely done. We could still bounce here, but as I've said the market has basically met minimum requirements already.

    I don't "trust" this market.

  4. Thanks SC. The market looks heavy, but should get one more push into the 1340's

  5. As expected we did see a solid bounce. It can push higher, but this should be the last bounce.

    Financials are weak (rifin). They were testing the April 18th lows this morning, and the bounce has only filled this morning's gap. Much weaker than SPX.