“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Friday, 15 March 2013

15 Mar 2013

Still looking for SPX 1600.  One thing I noticed also today while doing some Fib. work was that in relation to yesterdays A=C, we are actually also approaching   the 61.8% of A from the bottom of  March 2009 to May 2010.  This target is at 1600 area as well. 

Overthrows are not uncommon, in fact it can be a good indicator that the end is near.  Our weekly Stoch. has closed the week with a cross up which is what we wanted to see as a divergent pattern.
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4 comments:

  1. Unknown17 March 2013 at 03:35

    i believe the first dip would be down to feb low at 1480ish with a head and shoulder formation

    ReplyDelete
  2. Unknown17 March 2013 at 13:54

    http://www.cnbc.com/id/100560852

    i think the rally comes to an end..........

    ReplyDelete
  3. MP17 March 2013 at 23:39

    Yes Its coming to an end, but we need to see if that 1400-1350 gets broken to the downside. Our midterm indicators are diverging so we could see a weekly to monthly down trend and if that happens. Those who are looking for 1600 might not ever see it. They would probably hold their shares in hopes it will get back up there in the near future.

    ReplyDelete
  4. Unknown18 March 2013 at 16:10

    im wondering if the bottom gap on vix chart will be filled in the recent time frame
    but on the other hand, vxo has no gap detected on its chart
    today the gap down were filled on the major indexes, wondering whats the pattern is going to be later on

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