31 Dec 2013

I can't believe that we are already writing our last post for 2013.  Time has passed by fast this year, and it has been a great time as well.  I would like to thank the ever growing viewers of this site, and encourage you to make my blog a must read blog daily.  I always try to keep things simple and understandable for traders with basic or advanced principles. 

I hope that 2014 not only brings volatility, but also brings large profits for everyone in our small community.

Today we saw higher prices as indicated from yesterdays update.  We are tagging our upper angle again and seems to follow its time and price.  Looking at the time calculator, there seems to be a Jan 8 / Jan 12 date sticking out as a possible CIT (change in trend).  This is based on the Sq. of 144 calculator of 1768 and 1772 days from the 2009 lows.  Not sure if I am doing this calculation right but it is interesting nonetheless.

Going back to the basics, we do see a negative divergence forming in the intra-day charts.  We would still need to see our MT and ST trends to exit the overbought situation for us to see a sustained run to the downside.  We are only 11 pts away from our minimum target of 1860 from todays high and 31 pts away from our extended range of 1880 SPX.

MT: UP
ST: UP

Happy New Year !!!