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Friday, January 13, 2012

SPY - Timing Cycles Due

Markets have been slowly grinding higher into the due date of the following timing cycles.  One was due yesterday, and the next is due on the 17th.  A minimal amount of upside looks possible. 

While the market has been quiet, I have been working on detailed charts and timing for January and February.  Stay tuned!  

Daily Chart

21 comments:

  1. A couple days ago, the two levels of support mentioned were 1287 which was tested yesterday. The other was 1279. Hit that today.

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  2. Did you go long the Spooz today SC?

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  3. Yes, hit support and next week can push higher.

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  4. Just sayin'

    http://tinyurl.com/753q4pu

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    1. Zigzag, I saw your chart, do you mean stocks will go up and up after Jan 13~16?

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    2. Hi Steven, Market should follow something close to this for this year and should see highs and lows match this chart. Can be a few days off at times.

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    3. Zigzag, can you attache current S&P numbers to the chart that would correlate to the different points?

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    4. You bet. I'll try and post it tomorrow. I use it for time more than price, and usually a big swing on the chart correlates very well for price. Right now it says the uptrend will continue to October.

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  5. Interesting read concerning next week.

    http://www.safehaven.com/article/23973/spx-at-multi-month-high-before-opex

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  6. SC if you have a turn date cycle this weekend..
    why would you go long?

    Just curious

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    1. It's just a short term view as a pop over 1300 seems likely. The timing comes due early next week.

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  7. zig zag. do you see a weaker h1 2012 or h2?

    thanks

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    1. Next week is my mid January cycle and I don't see much a pullback after that. I think we have a strong 1h and weaker 2h.

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    2. What do you mean by 1h and 2h?

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    3. 1st half and 2nd half of the year is what I think stevesteve121 was asking.

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  8. SC I've gotta be honest. I find it odd, given that you have foretold a 20% potential decline in the SPX, that you would chase a few lousy points higher, especially since things appear to have rolled over on Friday.
    What happens if things deteriorate in Europe over Monday and the US gaps down Tuesday?

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    1. Still a little early beetle. Bulls still have control but the tide is slowly turning.

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  9. "deteriorate in Europe"??
    Doubt is what markets hate. Now the downgrades are out. Doubt is gone. European markets are gonna rally next week.

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  10. yvan, just like the markets rallied last year when the US was downgraded huh?

    Check out the US treasuries as of Friday. The 5 year broke above a 5 month consolidation and the 10 and 2 year are about to.

    That says something about a continuation of any rally. Oh and Greek debt restructuring talks broke down late Friday. Default now looms.

    Cheers

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    1. Beetle, there is a big difference. The market didn't expect the US downgrade, it was a complete surprise. Did you see ES after the close? Next week I think will be bullish.

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    2. Greek default is priced in.

      DAX, CAC and other european charts are very bullish.

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