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BKX is still weak......as far as I'm concerned..this is the last of the short covering push...I still think we go down heavily
http://stockcharts.com/c-sc/sc?s=$BKX&p=60&yr=0&mn=4&dy=21&i=p82852579646&a=89765548&r=8365
possible..I've got max numbers of oex 460 and spx 982 so you might have something there.......closing above those numbers...we have to be doing something else than I'm imagining.
..ES 975 is pretty key too..
and the 13 month..basically the same thing as the 55wema...but still watching the macd and rsi..
http://stockcharts.com/c-sc/sc?s=$SPX&p=M&yr=10&mn=11&dy=29&i=p90778064662&a=79229368&r=9803
I'm looking for oex to get below 453 for any hint we have some type of top in place..maybe a substantial top...more hints of a of a substantial top is below 450...holding above 450 I might be full of shit...
PS..posted this earlier..BP portion won't update until tonight...but on ndx there is possible strong resistance here.
http://stockcharts.com/c-sc/sc?s=$BPNDX&p=D&yr=7&mn=6&dy=0&i=p47443541726&a=87769691&r=4809
we've got that slight new low...things "COULD" possibly change drastically now....we shall see....
..we certainly get that feeling of " oh crap!!..this is a breakout"....I'm still not convinced...oex got a bit higher than I thought but still in the area I was looking for...
If we take out the 55wema on spx..I'm really wrong looking for down...
Posted this the other day..TWT
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=3&mn=6&dy=0&i=p71754635784&a=81489240&r=368
nya and rut have now made new highs...watch OEX 451.75/452.75 for a possible turn down from there
Thanks..didn't see that...but I can't agree with it....I'd prefer a downsloping neckline....and the start of the left shoulder should be at a high...not drawn in between points...but that's just me and my experience of that particular pattern...an upsloping neckline on an inverse pattern is very often a sign that it isn't what it looks like..
just my 2 cents however..
I've been asking to see it...is it posted somewhere?
Speaking of inverted H&S patterns and necklines...this one would be perfect..
http://stockcharts.com/c-sc/sc?s=$FTSE&p=D&yr=0&mn=11&dy=0&i=p76414154733&a=81431565&r=6830
not sure if that ES divergence will hold up..TWT...so far we haven't had the type of 5th wave in an ED that's scary. Scary in terms of "shit, I'm short and it looks like an upside breakout!!" 5th waves in an ED will throwover as far as it can to scare the living hell out of shorts....I'd still like to see OEX 451/55...and for RUT to make a new "recovery" high....NYA and RSP may need new "recovery" highs too...I'd like to see at least RUT join the club though
Hey Chuck.....One thing that bothers me on that count is that "X" wave looks to shallow in both price and time...we shall see..
The reason I'm asking for the neckline to be shown....there are several peaks and I can't draw a proper neckline anywhere that would make it legit..
Can you show how you are drawing the neckline...TIA
That's Aug 12!...not with the pattern I'm seeing...it might be some type of low though
I've still got an ultimate low of OEX 270 to be hit (approx 600 spx)...however..we would have to get below OEX 360 for that to get really good odds....I'm thinking the imminent correction heads to a minimum of spx 780/810 area (not straight down)...all in imvho of course..
dollar should rally...while equities dump ....very soon
http://stockcharts.com/c-sc/sc?s=UUP&p=60&yr=0&mn=6&dy=0&i=p52733780104&a=155141706&r=4610
EOD weekly..buck
http://stockcharts.com/c-sc/sc?s=$USD&p=W&yr=10&mn=6&dy=0&i=p88140980036&a=48805904&r=9181
I'm seeing a bunch of people getting bullish across other boards..we are very close to a major top..if it's not already in....from where I stand...this is going to get very nasty
one thing I do keep an eye out for is nonconfirmations at times like these...at the moment...spx and oex have made higher highs..but not confirmed by ES all session....
just a heads up if the nonconfirmation holds...ES has to get above 957 to bust the nonconfirmation...quite bearish if it holds up
my wet dream scenario would be for oex to make two more higher highs (may only need one more)....then we head down to at least 780/810 spx...anytime we take out OEX 442 south...this rally may have bit the dust..
I would like to see oex topping between 451 and 455
fwiw it's worth...I've got a cycle high right here this week..approx. a 13 month cycle
http://stockcharts.com/c-sc/sc?s=$NDX:$SPX&p=W&yr=11&mn=8&dy=0&i=p25414232215&a=114984972&r=4760
that's entirely possible....I didn't think we'd be up here until later this month or early Aug. when I posted this .. I figured we might finish the month before getting whacked...TWT
http://www.traders-talk.com/mb2/index.php?showtopic=108227
two of the major indices that I follow still haven't made new highs yet....NYA and RUT....either they maintain a divergence or we have to wait for them to get those new highs in...not much help but just putting it out there..
http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=13&i=p27717425600&a=109883924&r=3305
hope this isn't to confusing...ED's are tough to count..but the "BLACK" count could have today's high as the finish of the ED with throwover...if we get below 940 approx...that would probably confirm it
Lot's of good news out this morning...markets don't tend to top on bad news..lol Spx has a new nominal high that I was looking for...while ES all session has not....ES all session "just might" have a double top... fwiw
I'd still like to see 960 spx get hit...twt
I'm still not convinced the lows are in
Me thinks that we are about to let the air out of the tires .......big time
This is to you and LG...would need a close over 1020..a weekly to put the 270 oex target out of question..but I'm not expecting more than 960/77..especially 960
OEX just made a nominal new high without spx or ES ......that does have the possiblility of being quite bearish..fwiw
interesting TL (s) we ran into
http://stockcharts.com/c-sc/sc?s=$NDX&p=M&yr=13&mn=6&dy=0&i=p54170002834&a=98654220&r=5110