7 replies to this topic

[Trend-Signals]

Markets show a break above the current resistances as shown on the chart that CCI breadth momentum is stronger. This suggests that Qs 49.06, SPX 1488, and Nasdaq 2600 will be broken above.

Markets traded in tight trading range for 6 weeks and once the resistances are broken above, markets will trend up.


http://stockcharts.c...92375&r=923.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=3&dy=0&i=p54460905161&a=115499637&r=963.png

http://www.stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=3&dy=0&i=p31411575960&a=115683364&r=765.png

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=10&dy=0&i=p66435049971&a=115289116&r=145.png

http://stockcharts.c...92643&r=773.png

I SAW THE LIGHT!

[Sentient Being]

Are you flip-flopping here? One thing I've noticed about TA over the years. There is always a good bearish case and a good bullish case. SPY is above the 200 day, above the 21 day, pressuring the 50 day. I want to see SPY cross above the 50 day simple moving average before I'm a true believer. I'm long but without much faith.

[Trend-Signals]

As noted before, I am consistent with market call as noted before that my view is SPX break above 1555 in Global Economy. Don't confuse the timeframe which my comments are referring to, e.g. vst/ST gyration with IT/LT. As noted on my breadth analysis, market is suggesting that it will break out to above the resistances. Even though we are going into Sept, I think that we will likely see a break above the resistance from 6-weeks trading range market since we are coming off from major law. We already retested the bottom in head & shoulder formation as noted before that we will not see the retest of the low at the same level as the climactic reversal point. I commented on this before if you review my comments, you will find it saying that it was climactic reversal from below the critical level when bulls fiercely defended in very high volume. Usually, a reversal in a low volume is retested, but not the climactic reversal in high volume which we saw. Based on the breadth formation, it looks like market will breakout from the current resistance and will again trend out of the range. Have a nice long weekend.

[Sentient Being]

I'm doing 36 hours of night shifts this weekend....it will be good and loooong! However, I have another two week stretch OFF coming up pretty soon. Thanks for clarifying for me where what you are thinking. I saw a major, broader market spike late last month on a special home grown tool of mine that made me thing a serious bottom was going in place. I'm really hoping that this thing breaks out just to justfy my playing around with that tool for a few years looking for a major signal on it! It's the primary reason I took two "double" positions and bet on a long side break out here. So far so good. But I came so close to being stopped out that there is no longer any skill in this on my side, just pure dumb luck if I wind up looking good.

[Tor]

August 8 highs determines EVERYTHING.

[eminimee]

Here's some short term targets for you...

http://stockcharts.com/c-sc/sc?s=$SPX&p=M&st=1986-01-01&i=p19966457143&a=90720826&r=7119.png

[Trend-Signals]

REGARDING FRIDAY CLOSE:

For close, note that the profit taking volume is lower than up volume.

http://stockcharts.c...34079&r=219.png


http://stockcharts.c...54533&r=700.png

Trend is up.

http://stockcharts.com/c-sc/sc?s=$NDX&p=M&yr=5&mn=3&dy=0&i=p42860949711&a=115723420&r=331.png



TREND IS UP

[OEXCHAOS]

Dirty laundry cleaned up and put away. Mark