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Those tight envelopes are just something I came up with. I use them like moving averages, not envelopes. Note a cross of the 5 over/under the 20 is a signal. They can be useful as stop indicators. The ROC 18 crossing zero up or down is a good buy/sell indicator. I find this a good chart template for many items/ETF's etc. I use it for EDC and EDZ. Just plug in the symbols.
Using BB width as major top indicator
http://stockcharts.com/h-sc/ui?s=$SPXA50R&p=D&yr=2&mn=0&dy=0&id=p67768667464&listNum=13&a=216119856
USEFUL SPY 60 MIN TRADING CHART
http://stockcharts.com/h-sc/ui?s=SPY&p=60&yr=0&mn=1&dy=10&id=p34410327239&listNum=13&a=216114522
Dollar futures hitting trendline support approx 79.50
If support holds, then the bounce should take it to about 82. That dollar rally would drop stocks and most likely would be concomitant with a drop in gold as well.
SPX futures 1216 and dropping
My analysis with 30 min chart illustration
http://stockcharts.com/h-sc/ui?s=$SPX&p=30&yr=0&mn=1&dy=12&id=p97535249495&listNum=13&a=214720386
I'm still holding to the ABC Wave 4 correction still unfolding (see chart). However, it is possible that wave 1 up of Wave 5 up just completed. Time will tell the difference on the chart. In any event it's time for a pullback starting today or Monday.
Direction forecast
(using BB width as an aid)
Generally sideways for the next 1-2 days as the market puts in a new moon top. Then sharp drop to a full moon bottom on the 21st. (Significant events those full moon bottoms!)
Interesting to see how Friday's economic data plays into this.
C
60 MIN UPDATE
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p53697650298&listNum=13&a=215164884
Although the daily is close to a buy signal,
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=11&dy=10&id=p07590707182&listNum=13&a=215164641
for now I still think a B top is being made.
B top being made. Now drop to C.
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p69695266568&listNum=13&a=215164884
Great chart template
Here's a weekly chart that can be opened to daily, 60 min and 30 min and still works well. Very simple and easy.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=3&mn=6&dy=0&id=p54169265955&listNum=13&a=215165964
Weekly chart and outlook
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=9&dy=0&id=p69766471310&listNum=13&a=214663492
Looking for near term top 1194-1207ish Wed-Mon, then down to 1150ish. Break below around 1120 voids the December rally indicating that the double top scenario is in play with the market diving to 1010 again. But the important question is: Will Aunt Bea get through the TSA security grope down with those exploding Thanksgiving pies in her bra. Not to mention the sweet potatoes.
B top near. Fall to C coming (chart)
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=4&dy=0&id=p93532523378&listNum=13&a=214445977
ABC DOWN CORRECTION STILL UNDER WAY
MOVE TO B TOP NOW TO START
http://stockcharts.com/h-sc/ui?s=$SPX&p=30&yr=0&mn=1&dy=12&id=p55750294955&listNum=13&a=214720386
New SPX Daily with ABC down wave targets
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=8&dy=0&id=p89717344353&listNum=3&a=214420498
When Woofy barks, the market listens
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=8&dy=0&id=p94978413039&listNum=3&a=214284434
Daily sell signal for wave 4 drop imminent
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p41859750528&listNum=3&a=210877943
Quantitative easing explained
The Mental Marxist Party: "Spread the IQ Around"
10 minute spx chart to consider
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&yr=0&mn=1&dy=0&id=p88652640034&a=209168041&listNum=3
Current small wave 60 min pattern illustrated
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p95445444430&listNum=3&a=212142419
Topping signal needs confirmation
http://www.theuptrend.com/Stock-Market-Trends-20101110.htm
Heading to A of ABC decline
Looking for quick drop to 1175 area for A
http://stockcharts.com/h-sc/ui?s=XXV:VXX&p=D&yr=0&mn=4&dy=0&id=p70977771356&listNum=3&a=213368697
Market headed to Disneying heights
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p70649669863&listNum=3&a=213117136
New daily swing trading chart
Not for intraday trading, but useful to provide a context for that
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=2&mn=0&dy=0&id=p73709990397&listNum=3&a=213243086
Some charts for weekend perusal:
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p70212882586&a=213191829&listNum=3
http://stockcharts.com/h-sc/ui?s=EDC&p=60&yr=0&mn=1&dy=0&id=p49684350330&a=213191485&listNum=3
http://stockcharts.com/h-sc/ui?s=EDZ&p=60&yr=0&mn=1&dy=0&id=p44999010478&a=213191189&listNum=3
http://stockcharts.com/h-sc/ui?s=GDX&p=60&yr=0&mn=1&dy=0&id=p49909323645&a=213190230&listNum=3
http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&yr=0&mn=1&dy=0&id=p23292308260&a=213190335&listNum=3
http://stockcharts.com/h-sc/ui?s=HL&p=60&yr=0&mn=1&dy=0&id=p95452531167&a=213190809&listNum=3
http://stockcharts.com/h-sc/ui?s=$UST:$SPX&p=D&yr=1&mn=0&dy=0&id=p32904133291&a=213167527&listNum=3
Revised projection
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p70649669863&listNum=3&a=213117136
May need revision after reaction to today's job's report
Anticipation: “These are the good old days”.
The main takeaway point from this video is not Carly Simon’s legs. The old saw about the market anticipating 6 months out applies here. The market has anticipated QE2 for months and the market rose accordingly while insider short-selling is off the chart. What does the market have now to anticipate? Answer: the end of QE2. That won’t move the market up. One day after the QE2 announcement, money is moving where? To overseas markets where the action is. Forget the U.S. Other than Carly Simon’s legs circa 1972, I see nothing to anticipate. Back to the future anyone? Those were the good old days.
“…we might wonder if various powerful Wall Street players are not betting against the action they have floated all summer: That is, if Goldman Sachs et al. might be heavily short this euphoric market, in which case the next engineered move would a "surprising rout" which sent the market reeling.
After all, if Wall Street packaged doomed mortgage debt, slapped AAA ratings on the garbage, sold it to marks and then bet against their own packaged debt, then why not pump the market to a nice fat double-top on QE2 euphoria and then bet against the very market you just spent all summer goosing?
How much upside is left in this market? A few points? How much downside is there below all those air pockets? A lot.”
http://seekingalpha.com/article/234844-election-rally-almost-wrapped-up?source=dashboard_macro-view
HOLY CHART PATTERN, BATMAN!!!!
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p70267223504&listNum=3&a=210820271
A batman symbol perhaps? :)
Huge head and shoulders now completing formation
as SPX hits center pitchfork line at the top of a rising bearish wedge. Height of head projects a down target of 800.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p70267223504&listNum=3&a=210820271
The next past high relative to this chart was 1.71 in 2008. That would be the final high target, allowing for a little more up side on the indexes. However, that attempt may truncate, probably on a reversal day sending the ROC on the SSO:SSD chart below the center zero line as the top sell signal. Best wishes for success.