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11/05/15 Shanghai Composite Index, PEK, CHAU
11/01/15 03:40:41 PM
PEK may assault 47.5-48, support is the 50 SMA. The best entry was 40 +/- for early birds, it closed @44.83 on 10/30.
chart: http://forexrainbow.com/images/70386507098443125785.jpg
11/01/15 12:42:30 PM
SSE Composite Index Support 3374 & resistance 3537-3564 as of 10/30
chart: http://forexrainbow.com/images/41747041824326140073.jpg
11/04/15 Gold (2)
11/04/15 10:41:08 AM - Gold price is jogging in a critical juncture
as of 2015-11-04 16:28:41,
Last Price 1108.090
Previous Close 1122.215
Low 1106.650
- Gold (Gold Futures - Dec 15 (GCZ5) ) lost an important support 1117 +/-
- The rally since 07/24 is in jeopardy if the following support zone is accessed & lost:
- 0.764 1104.5 1100.7
- 0.786 1102.1 1098.2
Note: - session low on 07/24 was 1073.7 (but 1078.6 was an inconsistent number been recorded by different web sites)
http://www.investing.com/commodities/gold-historical-data
London Fix Prices 2015-07-24 1083.75 AM 1080.80 PM
http://www.kitco.com/gold.londonfix.html
chart: http://forexrainbow.com/images/11706751091165024171.jpg
'God's plan' is for-the-Fed to raise-interest-rates next-May
Amen
California congressman tells Janet Yellen: 'God's plan' is for the Fed to raise interest rates next May
Myles Udland Nov 4, 2015
http://www.businessinsider.com/gods-plan-for-the-federal-reserve-brad-sherman-2015-11
US Rep. Brad Sherman (D-California) told Federal Reserve Chair Janet Yellen on Wednesday the Fed should wait until next May to raise interest rates because of "God's plan."
Energy sector
staged an impressive rally, now shows sign of fizzling
Yami Yami, quick in & out ...(includes NUGT)
i am busy on OXY CVX November PUT options, spread is reasonable and liquid, good daily swings .....
will be back soon.
11/04/15 SPX
rally is fizzling a bit
SPX session high 2116.48 on 11/03 (table 2115.20)
10/23 - SPX enters a cluster of Wave/Fibonacci zones.
10/08 ,03/14 Fibonacci terminal points
"Fundamental" analysis, observed
Hot Soak: The engine remains hot for a period of time after it is is turned off
Two of the major engines to drive the stock bull market since 2009
(i) QE is behind us.
(ii) China 4 trillion stimulus package (2008-2012) is behind us. the “Hot Soak” phenomenon dragged another 2 years. in reality, China entered deleveraging cycle since 2012, their leaders warned “painful” time ahead honestly.
in essence:
- stock bull market dual engines were in shutdown mode, The QE “Hot Soak” works at its finest Crescent moment. Bulls' only hope is the QE hot money flows back to the US stock market continously. However, China are pulling the USD leg with his deliberative tactic maneuver, No one knows how it ends.
- QE4 & NIRP will dive mighty USD in quick spiral down mode.
- In spite of the recent trim-down action on their high targets respectively and consecutively (Why?), the bullish targets set by the leading bullish E-wavers Tony Caldaro and Avi Gilburt are under a severe challenge. imho, 2213.50 remains a pipe dream. 2140-2150 might be the new ATH, so what, when we will see 2300 2400 2500 ..
- This Is the Worst U.S. Earnings Season Since 2009 link
simple word: The year of stagnancy
Jan 2, 2015 S&P500 “Grand Opening” 2,058.90
01 - 1,994.99 month end closing number
02 - 2,104.50
03 - 2,067.89 Q1 end
04 - 2,085.51
05 - 2,107.39
06 - 2,063.11 Q2 end
07 - 2,103.84
08 - 1,972.18
09 - 1,920.03 Q3 end
10 – 2079.36
11/04/15 Shanghai Composite Index
11/01/15
link
Status
Shanghai composite index 3459.64 +142.94 +4.31%
PEK: 46.87-46.23 session ongoing
11/04/15 GOLD
Gold price is jogging in a critical juncture
15:38:23 GMT
Gold Futures - Dec 15 (GCZ5) 1,116.40 +2.30 +0.21%
http://www.investing.com/commodities/gold-historical-data
NUGT 36.31 - 34.55 session ongoing
11/02/15 SPX
review:
10/23/15
- SPX enters a cluster of Wave/Fibonacci zones.
- it is a game of “Play Hide and See”, I let market deploy its trajectory
10/08/15
- Bull has a pending High target 2213.50
- So far, 2213.50 remains a pipe dream for E-wavers.
SPX 2103 Because THEY CAN
http://www.traders-talk.com/mb2/index.php?showtopic=162128&st=0&p=734227entry734227
"Tipping Point" Sell, Options Oscillator Buy.
I think we're down today, up tomorrow.
http://www.traders-talk.com/mb2/index.php?showtopic=162126&st=0&p=734212entry734212
Anthony Caldaro
Primary V has been underway. targets 2214-2219, 2302, 2397, 2522-2571
Medium term support is at the 2070 and 2019 pivots, with resistance at the 2085 and 2131 pivots.
https://caldaro.wordpress.com/2015/10/31/weekend-update-524/
11/02/15 NUGT (DUST, GDX)
10/22/15 closed out my NUGT @44.2 completely.
A potential buy zones for NUGT
(1) 32.8 +/-
(2) 25.5-28.5
FYI FWIW
THE WEEKLY RE-LAY
Eric Hadik, INSIIDE Track
http://www.consensus-inc.com/002001i/knay1537/tech/1028tec-itt.htm
RE: SSEC TREND IS DOWN
Thank You for reply,
Yes, SSEC TREND IS DOWN, no doubt about it.
I have picked up 7 China ETFs in this post as "Bull's & Bear's garden varieties", pick the one in his flavor, or stay in the sideline; imho, PEK may assault 47.5-48, support is the 50 SMA. The best entry was 40 +/- for early birds, it closed @44.83 on 10/30.
10/30/15 Shanghai Composite Index
review
08/27/15 , 10/11/15
- An upward breakout (3324-3121) would be very bullish.
10/20/15
- policy makers provide incentives to push the market upward
Eric Hadik Interview: cycle outlook for Q4 & 2016
Chris Sheridan financialsensenewshour.com Oct 21
very smooth interview, no rude cut in.
link
THE WEEKLY RE-LAY - Eric Hadik
--Stock Indices Nearing Upside Targets; Top Imminent.
--Silver Rallies into Oct. 28; Drop into Nov. 2-6 Likely…
--Dollar Validating 3-5 Year, 1-2 Year and 3-6 Month Outlook;
--Surge to New Highs--into 2016--Expected!
--Commodities Poised for Major Lows in Nov. 2015!
full text: http://www.consensus-inc.com/002001i/knay1537/tech/1028tec-itt.htm
FOMC statement: Release Date October 28, 2015
http://www.federalreserve.gov/newsevents/press/monetary/20151028a.htm
For immediate release
Information received since the Federal Open Market Committee met in September suggests that economic activity has been expanding at a moderate pace. Household spending and business fixed investment have been increasing at solid rates in recent months, and the housing sector has improved further; however, net exports have been soft. The pace of job gains slowed and the unemployment rate held steady. Nonetheless, labor market indicators, on balance, show that underutilization of labor resources has diminished since early this year. Inflation has continued to run below the Committee's longer-run objective, partly reflecting declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation moved slightly lower; survey-based measures of longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring global economic and financial developments. Inflation is anticipated to remain near its recent low level in the near term but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of declines in energy and import prices dissipate. The Committee continues to monitor inflation developments closely.
To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.
The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.
When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.
Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Dennis P. Lockhart; Jerome H. Powell; Daniel K. Tarullo; and John C. Williams. Voting against the action was Jeffrey M. Lacker, who preferred to raise the target range for the federal funds rate by 25 basis points at this meeting.
THE WEEKLY RE-LAY - Eric Hadik
The Weekly Re-Lay
Eric Hadik, INSIIDE Track Trading, Inc.
Dollar Validating Oct. 15/16 Cycle Low;
New Advance Set To Take Hold!
Gold and Silver Reach Minimum Upside Targets; Oct. 19-23 = Decisive Period.
Stock Indices Fulfilling Rebound Expectations; Secondary High Expected by Oct. 30 (Likely Sooner)!!
--Next Danger Period Expected After…
read more link
10/23/15 miscellaneous
(1) shanghai composite index
review
10/11:
An upward breakout (3324-3121) would be very bullish.
10/20:
Policy makers to provide incentives to push
the market upward.
status
People’ Bank cut instructions’ rate, effective date 10/24
1 year loan base rate cut 0.25% to 4.35%
1 year deposit base rate cut 0.25% to 1.50%
- more incentives to be announced
- 10/15, closed above the resistance 3324
- 10/23, closed at 3,412.43
(2) SPX
review
10/22:
Uses recent high low (2134.72-1867.01),
maps out strong resistance 2056.28 (0.707)- 2071.54 (0.764)
status
- session high 2077.79, Ongoing
- 2077.43 0.786 out of 1867.01-2134.72
- A 0.786, in general, is considered the
maximum retracement ratio from Low to
High (for a counter-trend movement.)
- i have under-estimated the strength on
this bounce, glad i did not short ahead the curve.
10/22/15 SPX after close
- SPX bounces off support 2019, see chart.
- session high 2055.20
- Uses recent high low (2134.72-1867.01)
- maps out strong resistance 2056.28 (0.707)- 2071.54 (0.764).
- long term pivot 2069.93, see chart.
Used in chart
old chart 04/12/15
http://www.chartupload.com/images/92934905752883179443.jpg
Sold NUGT, 10/22 a crazy day
10/21: considering to issue a covered call for my remaining NUGT
action:
tried to sell covered calls NUGT 12/18/2015 50.00 C.
NUGT option trading volume is too thin, waited for one hour without filling.
closed out my NUGT @44.2 completely.
I guess Gold peaked on 10/14, NUGT peaked on 10/15. (all short term sense)
A crazy day
- 300-point Dow surge draws fuel from ECB hint at ‘QE’, link.
- Mighty dollar up "whopping" +1.33.
- US Dollar Index - Dec 15 (DXZ5), 96.41, +1.33, +1.40%
The year of stagnancy
Jan 2, 2015 S&P500 “Grand Opening” 2,058.90
01 - 1,994.99 month end closing number
02 - 2,104.50
03 - 2,067.89 Q1 end
04 - 2,085.51
05 - 2,107.39
06 - 2,063.11 Q2 end
07 - 2,103.84
08 - 1,972.18
09 - 1,920.03 Q3 end
10 - ????
10/22/15 SPX fight tooth and nail
review:
10/08/15 "The combat zone" 1944.65 - 2047.41
10/21/15 closed below 2019 marginally (2018.94), still no (short) action, ....
status:
session high 2045.42, Ongoing
bull is breaching 2047.41
(1) Local wave extensions
2046.09 2046.03
2047.83
2057.60 2059.08
(2) 200SMA 2060.79 (as of 10/22 Stockcharts 2059.98)
(3) Open Mouth scheduled meetings: October 27-28, December 15-16
10/21/15 SPX After close
Review
10/20/15 12:23:27 PM
- short term (dynamic) plan:
- imho, wait for confirmation : descends below 2018.81 (close below 2019)
10/21/15 10:05:03 AM
- [wave (c) termination] confirmation point is < 1998.50-1990.73
Status:
- closed below 2019 marginally (2018.94)
- still no action, wait one more trading day
- nearby high 2020.86 on 09/17/15
2019 in Long term picture
chart time 11hr24mins am PDT
04/15/15 12:42:52 PM
Gold afloats support 1162.4
archive
10/20/15 11:35:37 AM
- 1153.5-1162.4 now is the support zone
status:
- Gold No Love,
- considering to issue a covered call for my remaining NUGT position, no action yet.
Gold Futures - Dec 15 (GCZ5)
1,165.00 -12.50 -1.06% as of 14:31:49 GMT
http://www.investing.com/commodities/gold-historical-data
Shanghai composite index loss -104.65, close at 3320.68
all the way back to breakout point 3324
China market seems not happy about its central bank's MLF/SLO operation
BEIJING (MNI) - The People's Bank of China announced Wednesday it had injected CNY105.5 billion into 11 banks via its Medium-term Lending Facility.
WEDNESDAY, OCTOBER 21, 2015 - 05:50
https://www.marketnews.com/content/china-pboc-injects-cny1055-bln-complicates-rrr-cut-outlook
BEIJING (MNI) - The People's Bank of China announced Wednesday it had injected CNY105.5 billion into 11 banks via its Medium-term Lending Facility.
The Chinese central bank said the interest rate of the six-month MLF remained unchanged at 3.35%.
The PBOC is widely expected to inject fresh liquidity into the banking system to compensate for capital outflows. A cut in banks' deposit reserve ratio is forecast to come as early as this weekend.
PBOC data showed that Chinese banks, including the PBOC itself, sold a net CNY761.3 billion worth of foreign currency in September, a record amount. Foreign currency sales are used as gauge to measure capital outflows.
Traders warned that Wednesday's injection via the MLF could complicate outlook for cut in banks' deposit reserve.
Re NASARAVI: Have we completed (c) ...
Not yet, no confirmation
rewiev:
10/15/15 07:15:51 PM
for reference only. Wave morphs faster than you can perceive it.
status:
- wave (c) completed? not yet, no confirmation
- confirmation point is < 1998.50-1990.73
- Wave morphs, a seemingly compelling count may not be a validate one or an recognition (anticipation) is a failure.
- similiar recognition, wave is in 2 c, B in this chart (creditor: AK2 indexcalls)
10/20/15 SPX
review:
10/08/15 "The combat Zone" is 1944.65 - 2047.41
status & plan
- 1944.65 & 2047.41 in this table
- 1944.65 1970.34 1996.03 2021.72 2047.41
- getting closer to resistance 2047.41
-
- 03/11/15 session low 2039.69, see this chart (link)
- Today’s session high 2039.12, Ongoing
-
- short term (dynamic) plan:
- imho, wait for confirmation : descends below 2018.81 (close below 2019)
- 2039.12-1867.01 0.236 1998.50
- 2018.81 = (2039.12 + 1998.50)/2
- aiyaaya, let dices roll ...
Re: NUGT?DUST pair
rimshot: Thank You
10/16/15: i sold large portion of my NUGT ...
- I am holding a small portion of NUGT.
- The gold price did not breaking below the support
- it may have another test on the high side
- risky operation any way.
- the former resistance zone 1153.5-1162.4
- now is the support zone, chart link
London Fix Prices – 2015
Date AM PM
10-19 1171.65 1175.40
10-16 1176.35 1180.85
10-15 1183.35 1184.25
10-14 1173.70 1173.90
10-13 1154.40 1165.20
10-12 1164.20 1164.90
10-09 1151.50 1151.55
10/20/15 Shanghai Composite Index
review:
08/27/15 An upward breakout (3324-3121) would be very bullish.
10/11/15 (First time report in this thread) link with reasonable "lead" time
status:
- Shanghai composite takes out resistance and keeps ascending
- stock market does not correlate with economy
- policy makers provide incentives to push the market upward
- stock market is not a safe harbor, a game of risk & reward
red color is Up
some popular China ETFs
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares
link
CHAD Direxion Daily CSI 300 China A Share Bear 1x Shares
link
PEK Market Vectors ChinaAMC A-Share ETF
link
CNXT Market Vectors ChinaAMC SME-ChiNext ETF
link
GXC
link
YINN Direxion Daily FTSE China Bull 3x Shares
YANG Direxion Daily FTSE China Bear 3x Shares
300% or 300% of the inverse of the performance of the FTSE China 50 Index
link
In China, there are two public stock exchange markets:
Shanghai Stock Exchange, SSE
Shenzhen Stock Exchange, SZSE
Both the SSE and SZSE operate the Main Board while the SZSE also runs the Small & Medium Size Enterprise Board (“SME”) and the ChiNext Board.
The Main Board is designed for large scale companies which intend to solicit large amounts of public funds. A company to be listed in Main board has to meet a set of stringent requirements, one of the qualification is a consecutive 3-years profit.
SME adopts the same listing requirements as the Main Board while targeting companies with a smaller scale for equity flow.
The Nasdaq-Alike ChiNext Board provides an important platform, with less stringent listing criteria, for those enterprises engaged in independent innovation businesses and other growing venture enterprises to solicit public funds.
ChiNext: PE is around 128.4 as of 06/16/15 (before the crash), 5 year averaged 58.9.
Up to July/2015, there are 2883 registered companies in the mainland China stock listing, 145 mainland companies registered in Hong Kong stock listing.
There is a circuit breaker for each stock Up/Down 10% in the same trading day. On 07/09 there were 1442 stocks tripped on circuit breakers.
China GDP: National Bureau of Statistics of China
2015-10-19 10:00
link
Overall Economic Development was Stable in the First Three Quarters of 2015
National Bureau of Statistics of China 2015-10-19 10:00
According to the preliminary estimation, the gross domestic product (GDP) of China in the first three quarters of this year was 48,777.4 billion yuan, a year-on-year increase of 6.9 percent at comparable prices. Specifically, the year-on-year growth was 7.0 percent for the first quarter, 7.0 percent for the second quarter and 6.9 percent for the third quarter. The value added of the primary industry was 3,919.5 billion yuan, up by 3.8 percent year-on-year; that of the secondary industry was 19,779.9 billion yuan, up by 6.0 percent; and that of the tertiary industry was 25,077.9 billion yuan, up by 8.4 percent. The gross domestic product of the third quarter of 2015 went up by 1.8 percent on a quarter-on-quarter basis.
Highlights:
- the gross domestic product (GDP) of China in the first three quarters of this year was 48,777.4 billion yuan, a year-on-year increase of 6.9 percent
- primary industry 3,919.5 billion yuan
- secondary industry 19,779.9 billion yuan
- tertiary industry 25,077.9 billion yuan, up 8.4 percent
Shanghai composite index
08/27/15
link
An upward breakout (3324-3121) would be very bullish.
10/15/15
link
- short term high targets: see chart.
as of 10/19/15 10hr:36mins (China local date/time, one time zone)
Shanghai copmpsite index takes out major mark 3400
session high 3417.17 (ongoing)(target 3409)
http://gu.qq.com/sh000001
China is in an intended deleveraging period
- to be ended in 2020
- Wisely and Slow They Stumble That Run Fast (Shakespeare)
What’s wrong with China? part 3
http://www.siliconinvestor.com/readmsg.aspx?msgid=30233273
What’s wrong with China? part 5
China Minister of finance says: The next 5 years will be a painful period for the reform of Chinese economy, and the main goals need to be achieved by 2020. China's economy will be mainly driven by consumption rather than investment and foreign trade during the reforming period, and this will not be an easy job to accomplish.
http://www.siliconinvestor.com/readmsg.aspx?msgid=30234251
What’s wrong with China? part 6
http://www.siliconinvestor.com/readmsg.aspx?msgid=30235465
sold DUST
- sold DUST as i said this was an intended quick intraday play
- made $0.95, neither the best entry nor best Exit point.
- 2 minutes to Close this Friday session
- reporting status as just in time.
10/16/15 12:41:51 PM
DUST for quick intraday play
i may not do the follow-up post just in time.
10/16/15 NUGT/DUST pair
i sold large portion of my NUGT yesterday and this morning's session; start loading DUST for quick intraday play; this is somewhat a risky "gamble". A guy in Traders-talk was not "happy" about i 'jinxed' his bullish Gold call. Aiyaya, it is all about support/resistance and OE day magic, who knows for sure; When facts change, i change my plan too. no ego pot sticking. i may not do the follow-up post just in time.
Re: 2068.75
Thank You
2068.75 is very close to an important Fibonacci cluster 2069.93-2071.54 (0.764 ATH/recent Low), if that is the “Lower High”, i will wait it retracing below 2022 (0.236) for going long on SPXS. Let's see.
David Kostin year end target is 2100
Goldman sees S&P at 2,100 by year’s end after Fed stands pat
By Victor Reklaitis
Published: Sept 21, 2015 7:57 a.m. ET
http://www.marketwatch.com/story/goldman-sees-sp-at-2100-by-years-end-after-fed-stands-pat-2015-09-21
Analysts at Goldman Sachs expect the S&P 500 will climb to 2,100 by the end of this year, partly due to the Federal Reserve’s decision last week to keep interest rates at historically low levels.
The analysts — led by the bank’s chief U.S. equity strategist, David Kostin — are reiterating an S&P target that they detailed a month ago.
10/15/15 Misc.
(3) Shanghai composite index
08/27/15 An upward breakout (3324-3121) would be very bullish.
-10/15 In the 2nd attempt it closed above resistance 3324
- short term high targets: see chart.
(2) Gold
10/14/15 Gold to assault second resistance zone 1193-1196
- Shy a little bit to 1193
- session Oct 15 Low 1174.50 High 1191.40
- NUGT up 90% since its reverse split on Oct 01
- NUGT closed at 51.28, intraday high 52.60 (10/15)
chart: 0.500 1191.05
http://forexrainbow.com/images/31281846874760873632.jpg
(1) SPX after close
10/12/15 2020-2033 for upward,
09/08/15 bull will make the 2nd attempt on the old battle zone 1994-2019, 2032/2033.
- Getting closer to the pivotal point 2032/2033
10/14/15 Gold to assault second resistance zone 1193-1196
review:
10/13/15 01:25:33 AM
now, 1153 is becoming a support
To be bullish, price needs to close above 1169-1171. if so, imho, there is a 50/50% odd to see 1193-1196, somewhat tight on timing to see 1250. (Edit: see Quote)
Prognosis:
Gold Futures - Dec 15 (GCZ5)
18:41:38 GMT 1,186.90 +21.50
session range Oct 14, 2015 1188.30-1163.00, Ongoing
http://www.investing.com/commodities/gold-historical-data
London Gold Fixing Price 10:30 A.M. (London time) in London Bullion Market
Oct 14 2015 am: $1173.70 pm: $1173.90 ( > 1169-1171 )
http://www.321gold.com/archives/fix.html
- Gold price is very speculative.
- Fibonacci/Cycle projections provide rough guides, it is not a crystal ball.
Eric Hadik
Beginning Oct. 7, 2015 Weekly Re-Lay Alert...
“Transition Time II: 4Q 2015”
link
Gold and Silver are reinforcing intermediate analysis for another, potentially stronger, surge from Oct. ½ into Oct. 23/26. In addition to much corroborating analysis and trading signals, a surge into late-October would provide an intriguing parallel to the Jan. 2nd-Jan. 22/23 surge…capping off a replica of the entire move from Nov. into Jan.
Gold needs to exceed 1169.8/GCZ to do the equivalent. Both have turned their intra-month trends up, reinforcing the outlook for October.
10/14/15 SPX
Review:
10/12/15 10:45:35 PM
The flat expansion double peaks 2020.86 & 2020.13 is imposing a bearish implication but narrow range movement could break out either way; 2020-2033 for upward. 1999.16-2000.87 for downward. Keep watching.
Prognosis:
- 10/13 session high 2022.34
- wave discussion:
+ Three Types of Elliott Wave Flats: link
+ Read into tea Leaves seriously. By TraderJoe link
- Minimum level to confirm the pattern: Close below 1986, see chart.
- Trade on “Right on Cue” or “wait for confirmation” or “ahead of the curve” ...
Use 60 mins Line chart for better visualization of the pattern. for reference only. Wave morphs faster than you can perceive it.
10/12/15 Gold (reply to a private mail)
As prior post mentioned, Gold price will meet a resistance 1153-1162 (, and then 1169.); Thus pretty much the swings observed in the following two sessions. now, 1153 is becoming a support.
Date HI LO
Oct 13, 1163.50 1152.60 (session Ongoing)
Oct 12, 1166.80 1155.90
Oct 11, 1156.50 1154.50
10/11/15 Gold meet resistance zone again
Gold Futures - Dec 15 (GCZ5) +13.20 +1.15%
04:39:30 GMT - Real-time CFD Data
http://www.investing.com/commodities/gold-historical-data
(historical data subjected to update by the web site)
Review:
Thursday, 09/24/15 12:39:44 PM
link