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Thursday, May 10, 2012

$SPX - Positive Cycles Underway

The low may now be in place, and it came in on May 9th, the date specified in April.  The cycle analysis was negative until yesterday, and has turned positive.  This weekend and next week are surprisingly positive using that method.

Resistance shown in the 1365 area has been tested a few times this week, and the market may soon have the strength to break out above that zone. 

60min Chart
Posted by at

41 comments:

  1. 11kMay 10, 2012 at 6:17 AM

    I am new here, sorry to bother - is there somewhere i can read more about your cycle methods? I could not find it on your site.

    best wishes,

    ReplyDelete
  2. AnonymousMay 10, 2012 at 6:21 AM

    SC

    I have to admit you did very good job
    sometimes it came late couple days but still comes
    i appreciate for sharing your information with us .

    Thanks

    ReplyDelete
  3. sun_shineMay 10, 2012 at 7:12 AM

    SC, first of all great call on the markets.

    Around what level do you see the bounce leveling and turning down again? Do you see this happening end of next week or after?

    Thanks

    ReplyDelete
  4. 11kMay 10, 2012 at 7:33 AM

    Thanks for getting back! I have seen a few cycle stuff around but yours smell good. If you are able to share some related cycle charts we could follow along, that would be helpful, tho I respect your private intellectual property of coz.

    You are always able to tell a likely turning point say half a cycle ahead?

    Thank you for sharing whatever you have already.

    ReplyDelete
  5. SCMay 10, 2012 at 7:34 AM

    My cycles are mildly positive today/tomorrow though I suspect the market rallies a bit first, but could be a little soft into the weekend. Monday has potential for a surprise move higher, and next week looks strong.

    I'm going to review price targets and timing further. The positives are in place, and then the negatives start late May. So the market should be on the upswing for a few weeks.

    ReplyDelete
  6. H2535May 10, 2012 at 8:05 AM

    Thank you SC for your analysis.
    ZZ do have any update to your older chart?do you still belive on your previous chart, or change? Thanks

    ReplyDelete
  7. joedMay 10, 2012 at 8:09 AM

    DOW MATER CYCLE

    http://img221.imageshack.us/img221/2449/dowdaily510g.jpg

    ReplyDelete
  8. SamiMay 10, 2012 at 8:48 AM

    Joed.. what timing cycle do you see for the next high?
    around what dates approximately.

    You did nail the top last time to the date.. which was very impressive.

    ReplyDelete
  9. AnonymousMay 10, 2012 at 8:54 AM

    Joed

    i missed it
    i didnt see your chart before
    will pay attention now
    keep posting them up

    Thank Joed

    ReplyDelete
  10. AnonymousMay 10, 2012 at 9:00 AM

    i saw some posts really good TA here ;

    SC , ZigZag , Goldgerb , Joed
    i need to learn more from you guy :)

    ReplyDelete
  11. KlaatuMay 10, 2012 at 10:42 AM

    Just looking at my own chartwork, I see the S&P hitting a high
    today/tomorrow, with a drop into Monday to test this week's lows and then have a strong up week. This might fit in with
    Joed's Dow c.i.t and SC's positive energy for next week.This move up here could be a 4th wave with final 5th to come but, the higher we go here the less likely we are to take out the lows.A test of 1380 might mean it is a bullish leg (1) and any pullback might be a wave (2) before a strong leg (3) up.
    Good trading.

    ReplyDelete
  12. AnonymousMay 10, 2012 at 10:55 AM

    Any body trade crude ??? Hou ???

    ReplyDelete
  13. H2535May 10, 2012 at 11:04 AM

    what do you guys think about this?May.15 is bond mature date for Greece.
    http://www.zerohedge.com/news/new-greek-bonds-tumble-all-time-lows-greece-about-re-default-5-days

    ReplyDelete
  14. SS76May 10, 2012 at 1:15 PM

    You guys a buyer of HZU here? I think I might be. Looks tempting.

    ReplyDelete
  15. SantaMay 10, 2012 at 2:41 PM

    Hi SC

    wondering if you are looking at AH right now...we are crashing down like 2009 style, crazy sell off...

    hope you have stop in place.

    Thanks!

    ReplyDelete
  16. Gold_GerbMay 10, 2012 at 9:05 PM

    well Destiny, at least I got the dollar reverse warning correctly.
    ok, maybe I was off by a day.
    we've have 3 weeks down, it would be fair to assume 3 weeks up.

    http://s15.postimage.org/ls01kwdff/uup.png
    -GG

    ReplyDelete
  17. ARMay 11, 2012 at 2:20 AM

    SC,
    I have been following your work for over a year now, and I am truely impressed by the consistency and accuracy of your calls! I don't fully understand how you do it, but you do it very well...
    A very public BIG UP to you! And thank you for being so generous with the rest of us!

    Cheers

    ReplyDelete
    Replies
    1. SCMay 11, 2012 at 6:04 AM

      Thank you very much AR. I appreciate that!

      Delete
  18. AnonymousMay 11, 2012 at 2:34 AM

    SC

    You are referring to Gold and Silver in a BULL MARKET..........the lower highs and lower lows don't bother you in this discription!? gj

    ReplyDelete
    Replies
    1. SCMay 11, 2012 at 6:10 AM

      It's all a matter of perspective. The larger trend is up for Gold though it has settled and consolidated for months.

      Delete
  19. SCMay 11, 2012 at 6:38 AM

    A lot of talk about the finacials today, but actually Rifin has shown relative strength since early March compared to SPX.

    RUT holding really solid this week too, and right now is above the April lows.

    The bear trap has been set!

    ReplyDelete
  20. AnonymousMay 11, 2012 at 6:47 AM

    I think so
    i dont buy hvu
    my SPX chart seem doesnt have much room to go down
    so i stay out of hvu for now .

    ReplyDelete
  21. SCMay 11, 2012 at 6:50 AM

    The timing of this JPM news seems so orchestrated.

    ReplyDelete
  22. AnonymousMay 11, 2012 at 7:06 AM

    Sc,

    Ok....that a new one! We shall see cuz if that perspective is correct there will be no new highs and with 2012 being a major top and 2017 being the next bottom! gj

    ReplyDelete
  23. SCMay 11, 2012 at 7:07 AM

    NDX firming up today whereas it was weak yesterday. Markets could trade a little soft today, but the conditions are ripe in the cycles for a strong rally, and we are seeing indications in the market to support that.

    Another example, Copper also has a higher low in May from April.

    ReplyDelete
  24. AnonymousMay 11, 2012 at 7:44 AM

    This comment has been removed by the author.

    ReplyDelete
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    ReplyDelete
  26. joedMay 11, 2012 at 5:00 PM

    On the 20th May 4.47 pm EDT New York Solar Annular Eclipse!

    ReplyDelete
    Replies
    1. curiousmindMay 12, 2012 at 5:54 PM

      I read your chart for SPY weekly, you seem to focus on time, so are you expecting P5 to end in June 15? and the blue up move only got to P3. Please help us understand your chart. Thank you

      Delete
  27. ckoreyMay 11, 2012 at 8:16 PM

    SC,

    NOW.............is the best chance for your crash.........the one time I am not fading it.

    ReplyDelete
    Replies
    1. cbear2May 12, 2012 at 6:01 AM

      ckorey dude, this is the one time SC is NOT calling for a crash. instead, as the title says, he's expecting a bouncy bounce. are you saying you are fading the bouncy bounce call?

      Delete
    2. ckoreyMay 12, 2012 at 2:06 PM

      Yep..........depending on what they do into opex.

      Delete
  28. ChicagoMay 12, 2012 at 7:31 AM

    This comment has been removed by the author.

    ReplyDelete
  29. ChicagoMay 12, 2012 at 7:37 AM

    Joed can I ask why you are not looking for a P4 after P3? If I read your weekly correctly you are now looking for a move to 1200 - 1250 which you are showing as a P3 and obviously is much too deep to be a wave 4? I am a little confused by your count.

    ReplyDelete
  30. CyclicalMay 12, 2012 at 1:43 PM

    Hey SC,
    Great works man
    I am a beginner for cycles.
    What book would you recommend for learning more about cycles?

    Big thx.

    ReplyDelete
    Replies
    1. SCMay 13, 2012 at 7:28 AM

      I use a number of different methods - many of which I have developed myself over the years. So I'm not sure about specific books. I do use Andrews pitchforks regularly for pricing, and that is a more common technique. You could find info on those in books or on websites for sure.

      There is an art and science to working with cycles. There are also many ways to come up with the right answer.

      Delete
  31. UnknownMay 13, 2012 at 1:06 AM

    ...
    POSSIBLE 3 PEAKS AND A DOMED HOUSE

    ReplyDelete
  32. SantaMay 14, 2012 at 7:21 AM

    Hi SC

    you still sticking with your call for this week we have strength the entire week?

    certainly the start the doesnt look great so far.


    making new low.


    Thanks!

    ReplyDelete
    Replies
    1. SCMay 14, 2012 at 7:25 AM

      A little soft this morning, but yes still the same outlook.

      New chart is up.

      Delete
  33. UnknownDecember 28, 2012 at 2:11 AM

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