A test of 1280's later this week is anticipated. After that the next low in my cycle work is around Nov 8-9th.
30min Chart
Tuesday, November 1, 2011
$SPX - Update
As expected there was heavy selling pressure Oct 31st and Nov 1st. SPX found support today at the red trendline. There may still be some minimal downside, but the timing cycle for the low is due, and the latter part of this week looks quite positive.
A test of 1280's later this week is anticipated. After that the next low in my cycle work is around Nov 8-9th.
30min Chart
A test of 1280's later this week is anticipated. After that the next low in my cycle work is around Nov 8-9th.
30min Chart
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SC, What is the blueprint that you see for this week alone? I am a little confused. You are calling for the S n P to go to 1280 later this week, which I assume is by the end of Friday. And then it will drop back down to form a low around what target on Nov 8-9. This cycle appears very short. Please correct me if I am interpreting this all wrong.
ReplyDeleteWhat I see are large whipsaws basically very similar to Aug-Sept period. So by end of the week, I think can test 1280's again (even if a little more downside here), and then next week around the current level or lower could be tested once again.
ReplyDeleteNo point getting too far ahead of things here though. Let's monitor and review again later in the week.
Nice to be aligned with you, SC (and Gabe, presumably, hopefully).
ReplyDeleteThanks Jason, all the best.
ReplyDeleteStill possible that a test of 1202-1205 could occur. That is in the proximity of the yellow midfork.
ReplyDeleteSC, has silver completed your zig-zag - 35.6 down to 32 back up to 34+ now? may be a bit of upside a buck or two but should be close to the top, correct?
ReplyDeleteI do expect the rounded top to form for Silver once a bottom is in. The bottom for SLV yesterday was 50cents higher than my charted target. The futures did come closer. So I am not sure if we test the levels yesterday again or not.
ReplyDeleteRegardless $36 on the futures is where I think the rounded top finds resistance.
NDX hasn't been a strong performer today. Perhaps bears have a little time tomorrow morning.
ReplyDeleteEMINI INTRA DAY
ReplyDeletehttp://imageshack.us/photo/my-images/407/es112.gif/
Best, joed
trakktrader80@gmail.com
Gabe... Your still looking at 1280- 1300 area coming up?
ReplyDeletesami
ReplyDeleteI have not commented on a target.......I have posted the cycle time window only! Good trading! joed
There will be no positive end to this week. Starting tomorrow, will begin 3 days of market darkness...ending the week with a credit downgrade of France.
ReplyDeleteSC
ReplyDeleteGreece has decided on the referendum date to be held on DEC 4th. Does your cycle work have any relevant turning points around that time period?
EMINI NIGHT SESSION
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GOOD TRADING! joed
trakktrader80@gmail.com
EMINI NIGHT SESSION
ReplyDeleteABOVE IS BAD LINK.........TRY AGAIN!
http://imageshack.us/photo/my-images/42/esall113.gif/
GOOD TRADING! joed
The cycle turns have been working great. Bottomed Nov 1, and here we are spiking up on Nov 3.
ReplyDeleteI want to look at the Dec cycle dates further. I'll look into Dec 4 and see if that shows up. Thanks.
SC,
ReplyDeleteNice work. Don't know what the cycles say but I think next week is very bearish.
It's been very choppy. Futures were way down last night and today yo-yoing.
ReplyDeleteFavoring upside for the next few days, maybe top out Monday. Bearish after that.
I see this being a whipsaw zone.
Watching JEF - flashcrashed.
ReplyDeleteProbably a target of an offshore short spreading rumours. Comparing to MF Global. So typical...
ReplyDeletewell done SC
ReplyDeleteThanks Blake, quite pleased with the way things are going. Working to navigate through the rough waters while still keeping the bigger picture in mind.
ReplyDeleteSC - Thanks for the updates, helped me stay in my hedge throughout the day. Sold 1/2 (TBT) EOD, and wouldn't be surprised on a gap up with the current sentiment.
ReplyDeletePost halloween /SI chart: http://screencast.com/t/uTmrWmBNKbP
My RLX cycle low was good for 45 SPX points up so far. I will continue to buy the dips..
ReplyDeleteCharts from November 1st.
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Counting the weeks from my October cycle low..Week 5 is weak and 10 weeks gets us to November 28th. Me thinks the 76 MA is going to hold…
http://tinyurl.com/5t25owu
I'd be keeping a close eye on RLX here..
http://tinyurl.com/3b5hx8j
EMINI FOLLOW UP
ReplyDeletehttp://imageshack.us/photo/my-images/38/es240113vboth.gif/
ABQ, are you looking for a top in silver under 36$/oz according to your chart?
ReplyDeletethanks.
Reversed short at spx 1247. Good luck all!
ReplyDeleteThe way I see it here we are in the middle of the whipsaw range. RUT and NDX holding well today, and that may give the bulls advantage into Monday.
ReplyDeleteSC looks like that blue line in your chart is keeping us contained!
ReplyDeleteat least for the time being.
Yes, after the action yesterday, quiet today.
ReplyDeleteThe financials are weak today. However, BAC is the worst, most other banks came back up from its low of the day but not BAC. Something is brewing there. Maybe it's the US bank that Atilla's prophecy referring to. What will happen to the market if BAC goes down, but it is Too Big To Fail, right?
ReplyDeletextrends Atilla Demiray
The largest US bank may not last until year's end, so is the 2010 lows on SP500
1 Nov
Must.......Buy........Dips.
ReplyDeletehttp://tinyurl.com/6hhrsu2
EMINI UPDATE
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GOOD TRADING! joed
“THE TIME FRAME IS MORE IMPORTANT THAN A LINE”