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Still too early for a major top
Hold Long - tradable short to 1130
The 1140 SPX area was tested yesterday, now a gap up to fill the last move down at the open. If they break the 1140 SPX area, then we will immediately test the 1130 SPX which is a major support area for this move. End of Quarter and Month coming up. Any big down volume will create a big down move. Woo Hoo ready to turn over, but the Stochastic must cross for that to happen.
Thursday - test of 1130 tradable short to 1120 SPX?
Consolidation after a ramp into the fed meeting. Probably a test of support at the 1130 area. A break of that and 1120 is in the bag. Watch for a reversal at the open if we gap down. The MACD is still saying a long trade is favored
Tuesday - Hold long - RSI way over bought
Consolidation at the .78 retrace..... negative divergence on MACD
Monday----too bullish
Gap down for a tradable short and move to 1110 or possibly 1103 heavy support area. So Hold long above 1123 SPX tradable short below. Major support above 1103.
QQQQ 60 min chart.
Inverse head and shoulder - most powerful formation if we break the neck line 1132 SPX is the point to watch.
Rampo on air, pre holiday stuff. going right to the down trend line
Tuesday - hold short - 1055 SPX watch
Still below the 320 SMA on the daily, markets are in-sync, so the long side of the trade offers little happiness. The trend is your friend, which is on the short side with the daily ABC down target is 1007 SPX. Given the TOM, we could be in a consolidation day, with a possible right shoulder head and shoulder formation.
Monday - tradable long - watch for reversal at 1072 SPX
Counter trend move - If we should make it above 1072, we could have a buy signal to the top of the down trend line at 1090 ish.... Woo hoo had a verified buy signal Friday. So guess we will see how far this move takes us with TOM.
SPX support - break down here and 1050 becomes major resistance
Friday - Hold Short SPX - oversold bounce
Hold short under 1055 SPX. Tradable long above 1055, hold long above the 1075 SPX area. Shorts should be careful here as we could have a strong move up with the GDP figures. Stochs on the Woo hoo are over sold and MACD is having positive divergence because of the lack of volume.
The Euro and SPX sequence below.
Thursday - hold short- 60 min 5,5 stochs about to turn down
Above 1060 SPX is a tradable long to fill the gap and that is a huge shorting opportunity with this counter trend bounce. Hold long only if we rally above the 1080 SPX which seems unlikely. The shorting at that gap is what I am all over. Nothing says hold any type of long position here.
Woo hoo in the chart, the cross of the stochs on the Woo Hoo always give a buy signal, but since the MACD hasn't crossed it is doubtful if any move is likely to happen. Anytime we have a cross of the stochs and MACD, there generally is a strong move up.
636
SPX support
65 MA on the weekly for the Nasty
Close under this and down into the abyss
NASI - Fishbait - never go against the NASI
This chart is always right, just not exact
1010 is critical to bears - possible inverse Head and shoulder
Nasty still on sell signal - they lead the SPX
Wednesday - Hold short, oversold and at major support
Possible bounce to the 1065 SPX mark today, on an over sold bounce near term. This is below the 320 MA on the daily SPX so any play on the long side will probably be painful. The trend is your friend, so until this gets above the 320 MA, the trend is down. 1007 SPX is the ABC down target here. Given that we are about 40 points away.... Trade with Gleno chart below, he stole most of those indicators from me..LOL
60 min charting made easy...
Woo hoo indicator of moves
3,16, 25 crosses are key to the move up or down
The 320 MA Test.
We tested the 320 SMA yesterday and it held. A close under that mark today will indicate more down and with the doulble top and the ABC down to 1007 SPX, that will be the place to watch.
Monday - Hold short signal
We are in-sync with the markets. Watch for a possible up move to the 1080 SPX this morning. Stochs on the 60 min charts are over bought and RSI is below .5 Therefore, any up move would be good to sell into for longs or to place a trailing stop.
On the woo hoo chart we have positive divergences on the MACD. I would look for another day of consolidation so the moving averages on the minute charts can catch up. 1090 offers huge resistance and would be the place to short any move up.
Renko magic chart for trading
ABC down in 2012 - 336 SPX -
Wake up America...
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Ephesians 2:17 -32
17 This I say, therefore, and testify in the Lord, that you should no longer walk as the rest of[d] the Gentiles walk, in the futility of their mind, 18 having their understanding darkened, being alienated from the life of God, because of the ignorance that is in them, because of the blindness of their heart; 19 who, being past feeling, have given themselves over to lewdness, to work all uncleanness with greediness.
20 But you have not so learned Christ, 21 if indeed you have heard Him and have been taught by Him, as the truth is in Jesus: 22 that you put off, concerning your former conduct, the old man which grows corrupt according to the deceitful lusts, 23 and be renewed in the spirit of your mind, 24 and that you put on the new man which was created according to God, in true righteousness and holiness.
25 Therefore, putting away lying, “ Let each one of you speak truth with his neighbor,”[e] for we are members of one another. 26 “Be angry, and do not sin”:[f] do not let the sun go down on your wrath, 27 nor give place to the devil. 28 Let him who stole steal no longer, but rather let him labor, working with his hands what is good, that he may have something to give him who has need. 29 Let no corrupt word proceed out of your mouth, but what is good for necessary edification, that it may impart grace to the hearers. 30 And do not grieve the Holy Spirit of God, by whom you were sealed for the day of redemption. 31 Let all bitterness, wrath, anger, clamor, and evil speaking be put away from you, with all malice. 32 And be kind to one another, tenderhearted, forgiving one another, even as God in Christ forgave you.
AI
