Thursday, May 26, 2011
Chop Chop
Market doing a whole lot of nothing but I think we will get an attempt to go higher then we will pullback more. Looking for sub 1200 if we break 1305 in the day time session. For now looking for some resistance in the 1328 and 1334 area
Monday, May 23, 2011
Numbers
If we can bounce today over 1318 we should target 1323.50. One the downside there are two close areas to watch if we fall below lows of days 1308.50 then 1306.50
So what Next
So we are getting a deep pullback here in the markets. Futures are down over 10 S&P points an hour before the open and we looking weak. I have been patient over the last few weeks when everyone thought we would spike up higher immediately but there were warning signs.
Right now it gets complicated for me, why? well here it is in short time and price projections are not matching here at all. Time projection are telling me we are here at a close to a cycle top but price has already started the decline BUT I must note that cycles also shows a cycle low in June/ July time frame so this pullback 'should' be buyable somewhere in the next week weeks. I feel much more confident when time and price are in concert with each other and they aren't here.
If I am to follow the sequence of what is going on my analysis would lead me to say we are going to get a much deeper pullback and it will shake out much of the weak longs.
Remember what I have been saying for the last 3-4 months this move up is on very light volume and this might be the first real sign of the crack.
Stay tuned
Right now it gets complicated for me, why? well here it is in short time and price projections are not matching here at all. Time projection are telling me we are here at a close to a cycle top but price has already started the decline BUT I must note that cycles also shows a cycle low in June/ July time frame so this pullback 'should' be buyable somewhere in the next week weeks. I feel much more confident when time and price are in concert with each other and they aren't here.
If I am to follow the sequence of what is going on my analysis would lead me to say we are going to get a much deeper pullback and it will shake out much of the weak longs.
Remember what I have been saying for the last 3-4 months this move up is on very light volume and this might be the first real sign of the crack.
Stay tuned
Wednesday, May 18, 2011
Back! Almost
Been traveling so not much time to post- Since I have been off we have gotten a pullback in the market and yes I still don't believe it we are yet heading down but my cycles tells me june will be a bottom so this is how I see it.
I think we are due for some selling here maybe in the next couple of days into the June cycle bottom, whatever will trigger the selling is not relevant but it should be bought.
Long term I think after that last push of of the June bottom the next wave will be the end of this long uptrend in the market.
We will see soon enough!
I think we are due for some selling here maybe in the next couple of days into the June cycle bottom, whatever will trigger the selling is not relevant but it should be bought.
Long term I think after that last push of of the June bottom the next wave will be the end of this long uptrend in the market.
We will see soon enough!
Tuesday, May 10, 2011
Friday, May 6, 2011
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