Monday, November 28, 2011 10:03:38 AM
$SPX Hurst comment
I had speculated for a while that late Nov. would be the 80 week low for the $SPX. I did not foresee the terrific rally in October, only a bounce from a 10 week low. I have suggested that I would be buying the coming 10 week low and I started doing that from Wed. onward last week. Here is the phasing below for the $SPX on the daily. So I bought primarily on the assumption that my phasing shown below is correct, that buy being made even though I have no clear Hurst buy signal. What we get from here is still an unknown, but that is where I am at. The chart shown below is as of Friday's close. It doesn't look like a bottom, although I have thought a higher low was very possible for this 10 week low.
I apologize for not making my buying public. But to be honest I was not very confident in that buy and I am still not confident. We could see another leg down into Dec. or not. These markets are very difficult to predict with the news flow.
I am very busy organizing two houses as we plan a move in the New Year. I don't have much time for the markets these days, and I am hoping to hold the positions taken last week for a while, particularly if an 80 week low has been seen. TWT.
cheers,
john
P.S. Thank you to all for your kind comments. I read the board regularly but I just don't have much time for market analysis of posting.
www.sentienttrader.com
I had speculated for a while that late Nov. would be the 80 week low for the $SPX. I did not foresee the terrific rally in October, only a bounce from a 10 week low. I have suggested that I would be buying the coming 10 week low and I started doing that from Wed. onward last week. Here is the phasing below for the $SPX on the daily. So I bought primarily on the assumption that my phasing shown below is correct, that buy being made even though I have no clear Hurst buy signal. What we get from here is still an unknown, but that is where I am at. The chart shown below is as of Friday's close. It doesn't look like a bottom, although I have thought a higher low was very possible for this 10 week low.
I apologize for not making my buying public. But to be honest I was not very confident in that buy and I am still not confident. We could see another leg down into Dec. or not. These markets are very difficult to predict with the news flow.
I am very busy organizing two houses as we plan a move in the New Year. I don't have much time for the markets these days, and I am hoping to hold the positions taken last week for a while, particularly if an 80 week low has been seen. TWT.
cheers,
john
P.S. Thank you to all for your kind comments. I read the board regularly but I just don't have much time for market analysis of posting.
www.sentienttrader.com
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