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Seems like a lot of the "historical" things are not happening now. In the past the first rate cut usually sent the market down. But now I guess some are worried that the rate cut will actually cause inflation to climb again...Sure glad I do not have do anything. Just sit and take what comes without doing a thing...:) I have no clue anyway. The Gov't seems to be trying to run everything and we know their record.
The 15 min 50MA is still acting as Support.. Has now for several days.
https://schrts.co/jNVwUbAV
Glen
Pretzel Update: Pretzel believes the Market is at resistance, I'm not sure a Market making new Highs can really be at resistance but he is a believer in History repeating itself as in 2001 and 2008............... Here are his words: "...........the last two times they did this after a hike cycle were 2008 and 2001, and we all know what happened after that, so this is not particularly encouraging for bulls. We're left to conclude that the Fed thinks the economy is slowing way too fast (potentially already in a recession) and that they need to play serious catch-up."
I'm not convinced that that is true.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175114748
5627 is the Daily SPX target, the 10EMA...
https://schrts.co/GakKHtaS
On the first hit, the gap up low from yesterday acted as support
https://schrts.co/jVSmuvRu
Report 7.1 SPX Cycles Long Range Projection Chart. Today the SPX put in another new ATH at 5733.57. The Weekly, Monthly, Quarterly & Yearly Cycles all put in new highs today at 5733.57. The Weekly W-2 has exceeded it's projected high, the W-2 high is due 9/20/24. Possibility of a Weekly W-E-2 at the close on 10/4/24, projected high 6227.85, the high will be due 12/27/24.
I think some of the guru's were pointing out that Sept and Oct were weak months...If so boy what will December bring..??:) Sometimes bull markets start in Oct. But we already have a bull..?
5695 is the SPX 15 min Target, the 34MA...Not shown on this first chart... (the 34MA)
https://schrts.co/FiypfkyS
https://schrts.co/QAexcEwR
https://schrts.co/FyJWqbQp
5697 is the 60 min SPX target, the 10EMA...Possible some PB now??
https://schrts.co/mMFrDjBa
We just got the 60-E-2 confirmed at the close of the last hour. So that will add 2 more points to the 60 min Bear side, bringing it to -17. Right now on the 60 min Bear side the 60-E-1 is worth 6 points & the 60-SC-1 is worth 7 points. So if we get a 60-SC-1 confirmed in the near future that will bring down the Bear points to -4.
The 60-SC-1 has a current projected low of 5498.25
Hi Glen, we should be getting a pretty good pull back at the 60 min level. If you look at this chart it shows the 60 min at -15, so that means there has to be some large 60 min Bear Cycles coming soon. Should be a good buying opportunity.
It's looking like the Weekly W-E-2 will be confirmed 10/4/24, with a projected high of 6227.86, the high will be due 12/27/24. So it's now looking like the rest of the year maybe pretty bullish.
So as things stand right now, I will be buying the buy signals and holding on the sell signals.
Glen
This new high may not be the end of this run...... Aren't September/October supposed to be bottoms?
https://stockcharts.com/c-sc/sc?s=%24SPX&p=D&b=5&g=0&i=p59704194993&a=1470240225&r=1726761191645
One guru I read yesterday said maybe the market was running out of steam. Good thing it is or it might have a run away ::) Maybe HOD is in.?
https://schrts.co/yMCAqMtM
north, looks like you are reading the market better than most. Keep up the good work. It left me in the dust a few 100 points ago. Sure never thought we would see these levels and possibly not finished yet..
Report 7.1 SPX Cycles Long Range Projection Chart. Today the SPX put in another new ATH at 5689.75. The Weekly, Monthly, Quarterly & Yearly Cycles all put in new highs today at 5689.75. The Weekly W-2 has exceeded it's projected high, the W-2 high is due 9/20/24. Possibility of a Weekly W-E-2 at the close on 10/4/24, projected high 6227.85, the high will be due 12/27/24.
Like a yo yo today...
https://schrts.co/YCCTpJEs
https://schrts.co/cBAkEafZ
Back above the 15 min 50MA...Was REZ yesterday all afternoon
https://schrts.co/NjsnPmKM
https://schrts.co/AuBPqMCg
5611 is the 4 hour SPX target, the 10EMA
https://schrts.co/pNFFVspI
5589 is the SPXdaily target, the 10EMA...Waiting for Fed speak.
https://schrts.co/xdNnXFYt
Glen
Pretzel Update: "The next President will inherit a recession."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175102486
$SPX....10.......NEEDED ..a daily same chart to be post.....for a pair post together....
10
https://stockcharts.com/c-sc/sc?s=%24SPX&p=10&yr=0&mn=0&dy=2&id=p77051377957&a=578563804
Probably going to break up..Usually last half hour is ramp time...Right to the last tick
https://schrts.co/sVPCRrig
5604 and 5590 are strong Suppoer levels which price did not quite reach before turning up. Just have to see where it is headed now...Chop and whipsaw again today.
https://schrts.co/MkCakSZJ
$NYAD.....30.....+ SPX.......
https://schrts.co/wprGrFyk
The first hit of the SPX 60 min 10EMA target looks to have held...But still a long way from the close today..
https://schrts.co/jeKRvuvd
RCKS...New all time hi by 1.14,,,But that may be taken out tomorrow after the Fed gives us the cut number.
https://schrts.co/AQQNdHcf
Thanks RCKS...Both of the big guru's I read are looking for down now...but maybe after Fed Speak tomorrow.. I have no idea what is going to happen. I have no idea what a .25 cut vs a .50 cut would signal to the market. Any ideas?
Need to now stay below 5653 ish for possible more down and reversal..
https://schrts.co/NCPwHPFj
RE-POST ..$SPX ...10....+...SPX Daily. Trend HH..SPX GET BL status OPINION
Is W3Up.maybe?
10 + VIX Daily VIX .
https://schrts.co/fMpsZMEz
Daily..
https://schrts.co/kUPTiNMk
Glen
Pretzel update: I was absent yesterday without a good excuse.......... Pretzel says Bulls want to exceed 5661 and Bears do not want it to exceed 5661 SPX
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175094317
15 min 50MA has been holding this market up so far today...
https://schrts.co/JuzHSChQ
https://schrts.co/DKrcgBnJ
The 60 min 10EMA target hAS BEEN HIT NOW THE NEW SIGNAL IS FOR THE 20ma NOW AT 5585..Sorry Fat Fingers this morning.
https://schrts.co/fgMNXQXs
5568 is the 4 hour SPX target, the 10EMA
https://schrts.co/FwsCpQBe
5606 is the 60 min SPX target, the 10EMA
EDIT...Posted 15 min chart by mistake...Now have 60 min up
https://schrts.co/BhWbZVJC
https://schrts.co/cRETIeeW
Thanks RCKS..One of the Guru's I read a lot is also looking for a new high but thinks we start to weaken early next week.. I have not seen anyone call for an end to the Bull market yet...Have you?
Possible HOD is in..But almost every time I say that the market ramps some more just to make me look bad..
https://schrts.co/BhWbZVJC
Glen
Pretzel Update: He is suggesting that Bulls exceeding the all time high can only hope for an extended Fifth Wave, which are not all that common.......(my words not his)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175079521
5630 ish Next H line Rez..
https://schrts.co/pVXmEeWq
RE-POST ..$SPX ...10....+...Daily...
10 + VIX Daily VIX Status now @ sleep bull can go up may be ??? ...OPINION.
https://schrts.co/fMpsZMEz
Daily..
https://schrts.co/rMXYgfPk
5640 next H line REZ...Probably headed to new highs.
https://schrts.co/dyYMKzbQ
5591 next H line Rez...Sure not slowing down any. I think the Bulls are back in control again...Have the ever NOT been?
https://schrts.co/aMeYWCSn
So far today the 60 min has confirmed the 60-E-2, possibility of a 60-SC-2 (UPRO Sell Signal) Monday at the open. The Daily D-S-1 has been negated for today, if the SPX closes in the red then tomorrow the D-S-1 will be back in play. The Weekly could be back into Bear territory next week.
Glen's system:
For this system, I use the 10EMA, 20SMA, 34SMA,50SMA,100SMA, 140SMA and the 200SMA.
I use CCI10,20,34,60 and 100..
The system hit targets more often when going with the trend...
The targets are for the MA's at the time they are called and the actual target price when hit may be slightly different depending on how long it takes and how steep the MA's are moving..Each time frame update will also change the value of the MA.
So here is the way it works..Starting from a top...This works in ALL time frames from the 1 min to the monthly..
When CCI10 drops back below +100 price moves to the 10EMA
When CCI10 crosses below zero price moves to the 20MA
When CCI20 crosses zero price moves to the 34MA
When CCI34 moves below zero price moves to the 50MA
When CCI60 crosses zero price moves to the 100MA
When CCI100 crosses zero price moves to the 140MA
When CCI100 crosses below -100 price moves to the 200MA.
When CCI272 crosses zero price goes to the 320MA.
when price gets above all the MA's I use then you move to the next longest timeframe for targets and signals
Then you just start the system in reverse when CCI10 moves back above -100..
* After price gets above all the MA's on every time frame then you can not call any more up targets.(Monthly Chart is the longest)....You have to wait for CCI10 to drop back below +100 for a down signal on any timeframe.
** Use same instructions in reverse for opposite direction market movements
*** In strong market moves, countertrend moves will be difficult to hit
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