29 Oct 2012

Markets closed again on Tuesday..  Tweedle dee Tweedle dum... where is the money going to come from...

28 Oct 2012

Stock Market is closed on Monday due to Hurricane Sandy. 

26 Oct 2012

Dow Industrials weekly chart has entered bearish range. The last time this signalled bullish was on July 25, more than 3 months ago. Daily stoch. for the indexes has crossed up but still in oversold territory. 

SPX:

Daily -Bearish Oct 19 - Last Bullish Oct 16 - Last Bearish Oct 9 - Last Bullish Oct 1 - Last Bearish Sept 26 - Last Bullish Sept 6 - Last Bearish Aug 31 - Last Bullish July 26 - Last Bearish July 23 - Last Bullish July 13 - Last Bearish July 10 - Last Bullish June 27 - Neutral June 26 - Last Bearish* 25 June - Last Bullish 12 June - Last Bearish 11 June - Last Bullish June 8 - Last Bearish May 4 - Last Bullish Apr 25 - Last Bearish Apr 4
Weekly - Bullish July 27 - Last Bearish July 6 - Last Bullish June 29 - Last Bearish May 11 - Last Bullish Nov 2011

DOW:
Daily - Bearish Oct 19 - Last Bullish Oct 16 - Last Bearish Oct 9 - Last Bullish Sept 6 - Last Bearish Aug 23 - Last Bullish July 26 - Last Bearish July 23 - Last Bullish July 13 - Last Bearish July 10 - Last Bullish June 26 - Last Bearish 25 June - Last Bullish 12 June - Last Bearish 11 June - Last Bullish June 8 - Last Bearish May 4 - Last Bullish Apr 25
Weekly - Bearish Oct 26 - Last Bullish July 27 - Last Bearish July 6 - Last Bullish June 29 - Last Bearish May 9 (not yet printed) - Last Bullish Nov 2011

SILVER:
Daily - Bearish Oct 8 - Last Bullish July 25 - Last Bearish July 23 - Last Bullish July 17 - Last Bearish June 19 - Last Bullish June 1 - Last Bearish Apr 13 (Entered oversold Apr 24) - last Bullish Apr 12
Weekly - Bullish Aug 24 - Last Bearish Apr 4 (printed Apr 5) - Last Bullish Mar 30 - Last Bearish (Mar 21 2012 Printed Mar 23) Last Bullish (Mar 19) - last bearish (Mar 14 2012) - Last Bullish Jan 27 2012

GOLD:
Daily - Bearish Oct 9 - Last Bullish July 25 - Last Bearish July 23 - Last Bullish July 16 - Last Bearish July 6 - Last Bullish June 29 - Last Bearish June 21 - Last Bullish June 1- Last Bearish May 3 2012 - Last Bullish Apr 26 - Last Bearish Apr 16 - Last Bullish Apr 10
Weekly - Bullish Aug 10 - Last Bearish Mar 13 2012

25 Oct 2012

Lower moves today from ES, SPX, INDU but was looking for more.  With AAPL, AMZN failing to beat we might just see the lower lows and  print a reversal for the end of the week. 

24 Oct 2012

Lower low and possibly an ending 5th wave for the SPX.  Looking for a rally on the stoch. The Daily chart shows divergence and stoch still pointing down.  60min chart shows a slight lower low which can be enough for a full wave count for 5th but this can turn to a totally different wave count sooner than later, so we want to follow the indicators.  There is a risk of a rally so I would stay out and watch until the morning to see if I would go short again or not.

Possible Bullish EW count to finally end the move if we rally towards the presidential election due in a few weeks.

A drop across the 400 range will trigger its Sell Signal.

 

23 Oct 2012

This a perfect example of loosing money if you traded againts the trend.  Last friday I mentioned that the daily Stoch. for the SPX has made a cross down.  This changed our trend, and yesterday the market reversed and made a reversal candle on the daily all the bulls and bears immediately called a short term bottom and while I did also say that we should rally, I did warn that our daily was still on the downside.  Today that downside came fast and hard.  Are we done? Im sure we are close as everything is in oversold, but we need our daily stochastics to turn up for markets to follow short-term.  Until then DOWN is the word.

22 Oct 2012

Lower low and an active rally by the end of the day.  Couldnt ask for anything more.  Our SPX daily Stoch. is still down-trending and looking for either a 3 wave up or 5 wave up rally.  3waves would suggest we are corrective and might print a 2nd wave structure.  A 5wave up depeding on the size could be an A wave or the 1st wave to a progression for a new high in the markets that would label a 5th wave of this move from the June 2012 lows.  Rememeber we are still bearish at this point.