27 Nov 2013

Today was a light trading day and prices showed an interest in pushing higher today.  The pattern cannot be read clearly enough to give any EW potential counts.  Therefore we will just rely on our indicator.  Yesterday I wrote that the wedge yesterday was either a 5ht wave or a B wave followed by a impulsive drop before the close.  Today we did not make lower lows, so potentially the B wave has the edge here and we might see higher highs in the next few days.

Main-Trend: UP
Short-Term: DOWN

We had a change in direction on our short-term trend, but we are still in overbought range.  Therefore the risk is still to the upside.

Prices are following our angles. This blue dotted line is my 1x1 angle.

26 Nov 2013

I was contemplating today if the move today will resolve in telling us whether its a higher high for a 5th wave or a B wave.  We got the higher high in the SPX but we got a wedge in the process as well.  So this outcome does not tell us if the impulsive wave down is a 1st wave of some sort or a C wave of a still corrective pattern.

But our aim yesterday was to look for a higher high as early as todays session to complete the move, and that's just what it did. So in that sense we accomplished our goal.  We had a clear negative divergence in the Daily chart last Friday, and we now have that in the intra-day charts as well.

We need to be vigilant and look for a continued lower lows for the 60min chart with our short-term indicator following suit.

Main-Trend: UP
Short-Term: UP

25 Nov 2013

We have touched the upper angle line that was mentioned last week, but patterns still suggest todays move is corrective and that we could see another push to finish off a short term top.  We manage to rest on the 20ma of the 60min chart today.  So let us see where we stand by tomorrow session.

Main-Trend: UP
Short-Term: UP

22 Nov 2013

We are on our target for the upper angle marked by the green dotted line and a blue arrow.  This would be suggestive of where price could encounter some resistance.  W have a double divergence on our intra-day MACD's and we are currently forming a third divergence.  Our daily Stochastics has also made a negative divergence and we should be on a lookout for topping prices.

Main-Trend: UP
Short-Term: UP

21 Nov 2013

Markets are heading higher.  Yesterdays low was the support we were speculating on with 2 angles and 1 ma holding price to time.  We are currently on an intra-day overbought levels, and could continue from todays close.  Our Short-Term signal is still on a DOWN position but my guess is it will turn up by tomorrow morning.

If we continue higher by the start of the market, then start looking for a topping range.  We should look at the angles above marked by a dotted green line.

Main-Trend: UP (Unconfirmed)
Short-Term: DOWN

As expected large swings like today have proven to be hard for the Main-Trend to follow, therefore the short-term will be use for now.

20 Nov 2013

Our objective for the SPX has been met which supported today at the 75ma and our converging angles (Time and Price?).  This label of wave 4 is currently favoured, but I am still in the idea that the ABC (PINK) is still possible and would give us an expanding pattern of sorts.  If that is the case then the next probable low could come in the 1760 range. So we should keep an eye on this level.

Our 60min stochastic is in the down position but have already made a positive divergence, so a finished move is not out of the question and a potential move higher for a 5th wave and higher highs could start as early as tomorrow.  For now our indicators tell us we are in a down-trend

Main-Trend: DOWN
Short-Term: DOWN

It is the first time these two indicators have agreed with each other in a while so we should keep an eye for momentum to be on the downside.

19 Nov 2013

Markets still in a corrective trend.  We are not sure if we have finished our downward trend or a continuation still has to ensue for tomorrow.  My analysis tells me we should still see lower prices.  the lower angle on our 60min chart is converging with our 75ma (Blue Arrow), and I believe this will be a good support.  It is also nearing my 1x1 line (Dark blue dotted line).

If in the case there is an acceleration down then we must keep our shorts for a while longer till we see a turn in the short-term trend currently sporting a downward trend or the intra day indicator shows an up push out of oversold.

Main-Trend: UP (Unconfirmed and still overbought)
Short-Term: DOWN