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Monday, August 29, 2011

$SPX - Timing Similarities to July/August 2010

This summer, the turn dates for SPX market timing have been similar to the July/August 2010 period.  In 2010, July 1st was a major bottom, and this year there was a major top early July.  In August 2010, a top was formed on the 10th, and this year it was a major bottom.  Many of the smaller tops/bottoms have been following this timing cycle as well.

The end of August 2010 was marked by a bottom, and the kick-off to a powerful (and memorable) rally the first week of September.

This year, the market is rallying approaching month-end, and some choppy trading could be expected this week with a topping formation.  As shown below, the month of August has been sideways trade. 

A decline the first week of September would best fit this timing cycle. 

15min Chart          













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17 comments:

  1. astrofiboAugust 30, 2011 at 3:33 AM

    http://astrofibo.blogspot.com/2011/08/astro-update-moon-cycle.html

    ReplyDelete
  2. AnonymousAugust 30, 2011 at 6:17 AM

    SC, thanks for the updated charts

    ReplyDelete
  3. PKAugust 30, 2011 at 7:35 AM

    astrofibo,

    you were saying "buy the pullback" throughout the late July early August collapse. What the hell happened?

    ReplyDelete
  4. AnonymousAugust 30, 2011 at 9:38 AM

    I stated to watch the 1208 DEC EMINI price resistance! Price hit 1207.25 and failed!

    "Night session in watching 1208 DEC EMINI with any price above, failure at this level! "

    ReplyDelete
  5. ckoreyAugust 30, 2011 at 9:55 AM

    Gabe,

    Might be one more high but close to a top imho.

    ReplyDelete
  6. AnonymousAugust 30, 2011 at 10:03 AM

    On a swing position I am starting on the short side and building....there is always a chance of one more high or low when the swing comes in...and that is how most miss it! I just pay attention to stops and build my position!

    ReplyDelete
  7. ckoreyAugust 30, 2011 at 10:29 AM

    Good move and good trading Gabe.

    What is your timing and downside target?

    ReplyDelete
  8. ckoreyAugust 30, 2011 at 12:37 PM

    And here comes the ramp.............

    ReplyDelete
  9. AnonymousAugust 30, 2011 at 1:52 PM

    SC, if gold rolls over and silver follows we could get the bear in metalls you've been waiting for. Silver seems to be forming what looks like multi months SnS pattern, with support around 39.5 right now ... not too far, especially if gold continues down (btw gold is also forming SnS):

    http://img824.imageshack.us/img824/7522/streamingserver7326372.gif

    ReplyDelete
  10. SCAugust 31, 2011 at 6:40 AM

    Thanks for the Silver chart. That red trendline is the one I have been charting as well. It has crawled up the line for a long time, but once it breaks, the move should be spectacular.

    ReplyDelete
  11. SCAugust 31, 2011 at 6:42 AM

    This morning, SPX hit the turquoise line on the chart above.

    ReplyDelete
  12. AnonymousAugust 31, 2011 at 10:08 AM

    EMINI DEC

    Daily 1 X 1 and intra day upper range resistance at 1229

    Harmonic resistance 1225.......high so far 1224

    Daily bar setup supports price screwing around up here........building short position! Good trading! Be careful out there!

    ReplyDelete
  13. ckoreyAugust 31, 2011 at 1:49 PM

    Almost.............

    Not there yet.

    ReplyDelete
  14. AnonymousAugust 31, 2011 at 3:10 PM

    Hi Gabe... Where do you see SP going tomorrow? Do you see the drop to start or more like trading in the ranges of today? Also if you have limits for tomorrow let us know..

    Thx

    ReplyDelete
  15. AnonymousAugust 31, 2011 at 4:50 PM

    I am a Bear now so it's easier for me as I am looking at only one side to trade and at turns it is best that way anyway! Because of the daily setup and the holiday this market can chew up here and chase around for a couple more days............but it will be the type of move that will leave many behind because if your tools and cycle work are not good enough the market will win at these points! That is why most on the web are not very direct.....they screw and hedge everything they say! Really stops are all the hedge one needs if you have time! First of all we have the 1225 point DEC EMINI and then 1231.......I will post my range if I remember! Good trading fivir!

    ReplyDelete
  16. ckoreyAugust 31, 2011 at 5:39 PM

    Gabe,

    What is your downside target and timing?

    Thanks

    ReplyDelete
  17. AnonymousAugust 31, 2011 at 6:06 PM

    ckory

    No offense but read past posts ,,,,,,,,,,,,,I have stated it 3 or 4 times!

    ReplyDelete

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