Pages

Monday, December 17, 2012

$SPX - Testing Support

SPX has cooled off and is due to test supports this week.  Additional time spent in re-testing support is probable this week. 

30min Chart

47 comments:

  1. SPX reached the downside price target on Friday. The timing is early though so probably bounce around and re-test supports for a few more days at least.

    ReplyDelete
  2. Replies
    1. In my view it is early. I think support can be retested this week so not too appealing to chase upside here imo. In a few days once there is sufficient evidence that SPX has settled, then I'll consider a long trade.

      Delete
  3. SPX rocketed off the 1412 support yesterday. Probably settle and retrace lower for a few days next.

    ReplyDelete
    Replies
    1. Hi SC

      what price you looking at with the retrace for the new few days on SPX?

      is it back to 1412 or lower


      Thanks!

      Delete
    2. The market is very likely to go through a flat period in my view next. Xmas is coming, often slow market around this time. Traders go on holidays etc...little action.

      Drift sideways and with some retrace to 1420's imo.

      Delete
  4. Thank you, SC, for all of your guidance. Helps me navigate the market better. :P

    ReplyDelete
    Replies
    1. Thank you very much. We're approaching interesting territory in my model....

      Delete
  5. SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located.

    ReplyDelete
  6. what lvl is the white TL today SC ?

    ReplyDelete
  7. sc..you have been talking about your "big picture" view for about eight months now.. lets see it. You have been hinting at a market collapse lets see big picture chart, pretty please. That huge VIX spike never happened.

    ReplyDelete
  8. SC,
    take a look at gold volatility index. It is cheap. Move is coming, which way? Gold spikes as markets sell off ... or everything sells off?

    ReplyDelete
    Replies
    1. Both I think. Gold spikes then sells off with everything.

      Delete
  9. SC,
    could you shed some light on the latest drop in gold and silver? in addition, both usd and yen drops. what does that mean? is the year end rally still in the picture? or is the big sell off about to take place? thx a lot!

    ReplyDelete
    Replies
    1. Yes, I still see another push coming for SPX. There are some early warning signs that we are starting to see. VIX popped yesterday as well.

      Still a little early but getting closer, and I think that is why some of these events are occurring.

      Delete
  10. Came to within 4 points of the white trendline on that dip. I think SPX probably just flattens out for about 3 days or so.

    SCDecember 19, 2012 7:20 AM
    "SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located."

    ReplyDelete
  11. pattern of Great Crash.
    http://humblestudent777.blogspot.com/

    ReplyDelete
    Replies
    1. You have called Crash coming so many times, would be better and people more interested in what is the next move, not after the moves already made and market closed, then come out and post some emails stated that you see it coming, maybe that's why you are never wrong

      Delete
  12. Hi SC. Spent some enjoyable time over at ZZ's blog which has now gone the subscription routeso I'm out. Have read some past posts here and have a couple suggestions if I may.

    1) create a "current trades" section. Keep this updated with your real time trades.
    2). Create a section which shows your long term charts and views, another seperate section with your medium term charts, and another with Short term charts.
    3) stick to the S&P along with Gold and Silver.

    I think if you implemented these suggestions, you would be fully transparent and gain many more readers.

    ReplyDelete
    Replies
    1. Thank you for the feedback. I agree that it is important to keep short term and longer term views separate as that can lead to confusion. Updating trades is a good idea as well to keep things current.

      Certainly, I plan to implement a number of changes to the site going forward. Thanks again!

      Delete
  13. SS76, I still don't understand why they change to subscription site so abruptly. Don't want to be mean, but whoever that ANON guy was yesterday said what I had on my mind, Anthony's calls and Platy's calls have been quite off. Look at NUGT,gold and silver, if one is to follow their trades, deep red already. ZZ is more a long term guy, he went long wway too early too, of course now he is ok, but guys who don't have deep pocket like him, I remember reading this guy's comment, who bought at the same time as ZZ, but couldn't hold and sold at the panic bottom. That's why I am still thinking whether to try the subscription for maybe 1 month. I do think Karen has some amazing chart, and rotrot and gannman too, I would want to reda what they have to say more than what Anthony has to say...but even reading comments require subscription. What about you? Do you think you will try for 1 month after the new year just to see the new charts??

    ReplyDelete
    Replies
    1. Curious, what's your email address?

      Delete
    2. ZZ is really good and he averaged his position so he'll be just fine regardless. Anthony I respect cause he admitted he has been way off but his reasoning wasn't very good. Platy had some good calls but like you said she has been way off on the metals and nugt has been a disaster.

      Delete
    3. Since we both trade the canadian market also, it will be great to hear your input, my email is curiousmind3861@gmail.com, btw, HVU is on fire today.

      Delete
  14. What's the link to ZZ blog ??

    ReplyDelete
  15. S&P futures are acting crazy tonight. Dropped to 1391 in an instant, then rebounded back to around 1420.

    ReplyDelete
    Replies
    1. So Orchestrated. "end of the world". Absolutely ridiculous!

      Delete
  16. SPX at the white trendline around 1427.

    ReplyDelete
  17. SCDecember 19, 2012 7:20 AM
    "SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located."

    ReplyDelete
  18. VIX spiked, but it seems premature. We are starting to see unusual behaviour in the market, and quite frankly given my Deja Vu pattern this is to be expected during this phase.

    ReplyDelete
  19. This is like the script to a B movie. I can hardly wait until the next act when the media proclaims that the "end of the world" has been averted due to a last minute fiscal cliff deal.

    ReplyDelete
  20. What is the next expected move ?

    ReplyDelete
    Replies
    1. It could take a few days to solidify, then another push up for SPX. Final push.

      Delete
    2. From some cycles Monday is a candidate for the next low for SPX.

      Delete
    3. If it undershoots the white trendline then 1420 may be possible.

      Delete
  21. Will have charts this weekend.

    ReplyDelete
  22. As long as 1420 holds, then the uptrend remains in tact as part of a rising wedge.

    ReplyDelete
    Replies
    1. 1415 to 1420 does look really important.

      Delete
  23. I think NUGT is a buy here. All the sell signals are at their weakest and its due for a rebound.

    http://barchart.com/opinions/etf/NUGT&view=detailed

    ReplyDelete
  24. SPX has cooled off and is due to test supports this week. Additional time spent in re-testing support is probable this week.
    swtor gold
    buy swtor credits
    cheap swtor credits
    tor credits
    buy tor credits
    cheap tor credits

    ReplyDelete
  25. All's for the best in the best of all possible worlds! I have not see post good enough like yours here.Just admire your intelligence and informative explanation. I am a wow gamer but can't write such detailed info about that.
    More tags: wow gold for cheap /
    world of warcraft money /
    gold for wow cheap /
    cheap gold for wow

    ReplyDelete
  26. This is so much more than i needed!!! but will all come in use thanks!!I am a china tour lover,You can learn more: China tour operator | China tour packages | China city travel

    ReplyDelete
  27. No time to learn Chinese? Take online live lessons on demand, in real time, at your own pace. If you ever need to cancel or reschedule a tutoring appointment, just contact us no later than 6 hours before class.I am a Chinese teacher,you can learn more about Chinese language info: Learn Chinese | Learn mandarin | Chinese teachers

    ReplyDelete