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gentle drop to spx 1490 or so into this friday would be good enough (for me) to put in a 5 week low and next buy spot for longs
lightly shorting the rallies here, not expecting much, maybe 10 +/- points lower into the quarter moon
back short looking for 5wk/10wk low to hit near 3/4 moon late next week
short SPX @ 1500.93
http://www.timeanddate.com/calendar/moonphases.html?year=2013&n=0
Shorting now at the SPX 1500-1504 area.
Looking for the 10 week low with the full moon.
Target SPX 1462 +/- next week
Not giving up on a 5wk/10k smash
Looks like the 5 week high here on close - completing the b-wave
Need down day reversal tomorrow to confirm
5 week cycle low (also 10 week) due to hit end of this week.
May see a jittery down week here before rally resumes.
i am thinking the 6-7 day low hit yesterday pre-open session down at ES 1461 area
todays weakness still a lingering of the 6-7 day low with a rally next week into the 10 week highs.
After the 10 week highs are in, maybe things drop into the late Jan cycle where many Hurst people are looking for a low.
10 week cycle then becomes EXTREMELY right-translated and bullish into early Feb.
We are in a new bull market with the Kitchin cycle bottom of June 2012
4 year cycle doesnt bottom for a few year, so this market has room to run on the upside.
Been awhile since I last posted, hope to post some new charts.
c-wave rally from here into the New Moon
decline off the 4/27 highs into these 2.5 week lows is very triangular and emotional suggesting it was a b-wave
c-wave back up should follow here into the 5 week highs
2.5 week Hurst massively 'right-translated'
If this weekends supermoon was the 1.25/2.5 week low, from the 5 week low April 10-16, SPX would be in strong rally position.
May 1 high would be the 'right translation' of the 2.5 week.
declining wedges will sometimes "dip" then soar - part of an expanding triangle?
http://www.thepatternsite.com/fallwedge.html
supermoon causing this mornings weakness - should be the last 1.25 week low before the 5 week highs due next week.
If I am seeing this right, there should be a buying stampede most likely on Monday and the 5 week highs will be put in next week ideally Tuesday/Wednesday. (would not be surprised if SPX hit the 1440+/- area.)
Next weeks 5 week highs then should be a favorable shorting opportunity for a downdraft into the next 40 week lows due June.
"supermoon saturday" another 1.25 week low?
http://www.csmonitor.com/Science/2012/0501/Supermoon-Saturday-Biggest-moon-of-the-year
im a big buyer if prices back in the 1390 range. still dont believe the 5 week high is in yet.
looking for a dip and rip here
If may 1-2 gives more dip, may 8+/- should give a rip.
(a rip to the upside should take out that april 2 high)
If early May sees a top, a cluster of PQ Wall cycles appear to then point down into the June 4 lunar eclipse...
Kitchin cycle low then is due to hit after that. Juglar cycle low is also due after that. I dont see going into the fall of 2012 as very bullish. Looks like a sell in May and go away scenario is developing.
1437 +/- looks interesting
its a 1.382 fib advance from the recent lows and the old May 2008 highs
possibly May 8 +/- for a 5 week high
if we go sideways here for the next 4-5 trading days I can see a final run to 1437
aapl up 40 dollars in after hours
there appears to be a leading diagonal down from 3/19 into 4/16 of 28 days
28 / 1.272 = 22 days
add 22 days to the 4/16 low = May 8 +/- where the 5 week cycle could top out
I'll be watching May 8 +/- closely
bullish hammer daily candle in the NDX
5 week low appears to be 4/16 for the NDX
That would make today just a 1.25 week low.
nice call
how about today as the 2.5 week low
5 week high doesnt appear in yet
Gann blowoff Top imminent...Feb 27 to Mar 6
http://www.mclarenreport.net.au/articles/articles/250/1/February-15-2011-mclarenreportnetau/Page1.html
February 11 2011 mclarenreport.net.au
S&P 500 INDEX
Just an update—we still expect this confirmed “blowoff” trend will capitulate into a top between Feb 27 and March 6. That will end this leg and be followed by a sharp correction that will likely not exceed 13 trading days. But there will still need to be a distribution pattern before changing the trend and will either be a test of the high, a three thrust pattern or a broadening pattern.
Bullish RSI divergence on UUP (US Dollar ETF) 4 hour chart
Over next several weeks:
US Dollar - UP
Silver - DOWN
SPX - DOWN
Bonds - UP
yesterdays chart breakdown pattern in silver does not look bullish intermediate term. Strong trends shouldnt have air pockets like that
I think we'll see $25 silver before $35 over the next month
New Moon now temporarily rallying the SPX and Silver. (New moon hits next week)
Bill McLaren wrote: “blowoff” trend will capitulate into a top between Feb 27 and March 6.
Update on Hurst 10/20 week SPX selloff
chart from Carl Futia has what I agree the 2 highest probability targets for this upcoming 20 week low - (including my original April 2010 highs target)
http://carlfutia.blogspot.com/2011/02/update_24.html
Silver now spiking down and ZSL spiking up...this ZSL trade is acting very well...got in 15 minutes before spike.
http://www.freestockcharts.com?emailChartID=62f3d76b-e35a-4ed5-a8ca-1c92adc6c139
Goal for this trade is for spot silver to retreat below the $26 area....putting ZSL up above the $12 area.
Long ZSL @ 8.02
ZSL holding 1.618 fibonacci support and bollinger band support.
When price exceeds the outside limits of a bollinger band and returns back inside it often will signal a short term reversal...notice the reversals near 12/29 and 1/21 from exceeding price....now 2/22...
Chart here:
http://www.freestockcharts.com?emailChartID=ecfcef1c-0c3c-43b7-abaa-2a48d47ed6f3
watching ZSL and UUP - (Proshares Ultrashort Silver and Powershares US Dollar bullish) for swing trade.
ZSL last trade $7.90
near term metals selloff may be brewing. if metals selloff US dollar would rally into its 60 week cycle.
ZSL has a bullish CCI divergence setup on daily chart
Gold cycle peak 1/3/2011...
http://www.insiidetrack.com/pdf/011JanuaryGoldCycleHigh.pdf
Latest gold/silver rally does indeed appear to be a bear market rally on the charts.