Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Appears to be a good call Peter.
chris
Couldn't the argument be made that the 12/14 day came in yesterday?
Just sayin
gl/gt
chris
Looks like a very good call.
Congrats.
gl/gt
chris
slinky
A lot of information here to digest. Thanks for your input.
gl/gt
chris
OT Shout out to all the VETS, thanks for your service. (EOM)
Let me be the 1st to 2nd that.
gl/gt
chris
Powerful rally.
gl/gt
chris
While I realize that GE is not one of the INDEXES,
nonetheless it just took out its prior cycle high from last Thursday.
gl/gt
chris
Mid week low has to be in
Indu took out the weekly low
Spx made a higher low.
gl/gt
chris
All you have to do is go to Stockcharts
first chart
for Range select Start/End 2006-09-20_____ 2007-03-20
Overlays
Simple moving avg 21
MA Envelopes 20,4
MA Envelopes 20,2
It will be the same chart as airedale posted on that day.
gl,gt
chris
There's no way in the world I can argue 10-4 was a 20 wk low yet if one slaps a 20wk fld on it one has to admit price is coming up throgh a dropping 20 wk fld and usually that signals the major low is in.
Just saying
gl/gt
chris
Slinky it was a good call.
When I went to bed spx futures were down something like -15, I overslept and when I woke up they were up almost 15.
Its hard for me to believe in the PPT but the more I see crap like that it has to make one wonder.
Well I always say: win some, loose some.
gl/gt
chris
OT SilentOne
I'm glad your health has improved enough to allow you to go on a vacation. I hope you have a good one. I'm off to Vegas this week and even if I win a million out there Iceland isn't on my itinerary any time soon.
gl/gt
chris
Hi SilentOne, thanks for your input especially so in light of your illness.
In my 401k I'm 100% in the money market but I'm itching to get back in. I'll be out of town this Thursday and Friday and afraid I'll not be around the Internet. I'm worried about Bernanke spiking the market later in the week.
I've been completely flabbergasted by the cycles ever since the tsunami and can't help wonder if the mid March low wasn't exacerbated by it making it the 3rd 5 wk low with the real 20wk low coming the week of 4/18
Have to run, again thanks for your input, greatly appreciated.
gl/gt
chris
SilentOne/slinky
All indicators strongly suggest that next week we will take out the 08/09 low. Even if we are back in a recession I feel that this is too early to be taking out a 20 wk low. Therefore, I can't help but wonder if the upcoming 2.5 wk low won't really be the 20wk low.
Would you guys be so kind as to identify the 3 previous 5 week cycle lows?
Thanks
gl/gt
chris
Already had a couple companies come out and raise expectations along with a few that have already reported and beat.
Starting to look like an upcoming 20wk (?) low will be a non event.
jmo
gl/gt
chris
Looks like we should keep right on running right up to earnings in about 2 weeks if not longer.
jmo
gl/gt
chris
Starting to get some huge momentum which makes one wonder what in the hell is going on?
While the count can't be justified, this upward thrust is starting to look more typical of the movement associated with a major 20 wk low.
jmo
gl/gt
chris
I'll 2nd slinky's message.
Only the best of luck to you.
gl/gt
chris
slinky
I'm always appreciative for your input, I'm curious as to if you had noticed all the SAR sell signals Tuesday and the macd's on most of the indexes going negative yesterday?
gl/gt
chris
slinky
Are you looking for a 5wk low this week?
Are you still as bullish as when you made this post?
To me it appears we are rolling over into a prolong sell off.
thanks,
gl/gt
chris
Hi SilentOne I've been on a cruise and a little behind the 8 ball here and trying to catch up.
Ref your comment: "One thing is clear is that the cycle periods have lengthened from 2009 - 2010."
I'm a little confused here; it was my assumption that you and Slinky were suggesting that the cycles had shortened to 19 - 22 days for the 5 week low and around 38 - 44 for the 10.
I've been completely lost, cycle wise for the past 6 months or so.
chris
Does anyone have an opinion as to when the next major low is due and what low is it?
Weekly?
2.5 week low?
5 week low?
thanks
I doubt that I have ever been as confused as I have been this past month or so.
chris
Just a little bit confused here BlissBull, where is the gap on Dec 1, 2?
chris
Stocks in Strongest Bull Market Since WWII
Stocks hit their highest level since this rally began 20 months ago on Fed Chairman Ben Bernanke’s extraordinary plan to purchase Treasury securities for a second time, ensuring low interest rates for the foreseeable future. What investors may not realize is that this is now the strongest bull market for equities since 1945.
Through 605 days, the S&P 500 [.SPX 1221.06 23.10 (+1.93%) ] is up more than 80 percent from its credit-crisis low reached on March 9, 2009, the biggest advance at that stage among any of the bull markets since World War II, according to Birinyi Associates. The next most powerful bull began in 1974 and was up just 61 percent through the very same time period.
“While we would advise caution on new buys at these levels, it remains clear that equity investors are in the midst of a multi-year bull market,” said Birinyi analyst Cleve Reuckert, in a note. The firm has been steadfastly bullish throughout the rally and also correctly called the summer pullback just that, a correction.
The S&P 500 is 9.5 percent higher in 2010 now, led by gains in consumer, industrial, commodity and technology shares, all beneficiaries of either low interest rates, greater liquidity or a falling US dollar [DXC1 75.96 -0.04 (-0.05%) ]. The dollar touched its lowest level this year versus a basket of other currencies.
But while this may be the best bull market since World War II, those trading this market certainly don’t feel like the ‘Greatest Generation’ of investors.
“The game is changed,” said Sal Arnuk, a partner of Themis Trading and critic of the computer trading that usually accounts for the majority of activity today. “Stock fundamentals are not as important as figuring out what the Fed will do, and front running it. The only caveat I would add, is that playing that game of chicken requires that the government will do what it says it will do.”
After the collapse of Lehman Brothers and the so-called "flash crash" this May, retail investors aren’t quite ready to take that gamble. Stock funds posted an outflow of $11.16 billion in September, while flows into bond funds increased by $26 billion, according to the latest statistics from the Investment Company Institute.
Despite the monster gains off the bottom, the S&P 500 is still just at the highest level since September 2008. It will take another bull market, or gains of more than 20 percent, to get it back near its all-time high reached in October 2007.
While this bull market certainly has its share of individual comeback stories such as Apple [AAPL 318.27 5.47 (+1.75%) ], Ford [F 15.86 0.68 (+4.48%) ] and Caterpillar [CAT 83.18 3.30 (+4.13%) ], investors do not have the same good feeling as when the housing or technology bull markets progressed. Maybe that’s the point.
“Historical comparisons are tough to make,” said Peter Boockvar, equity strategist at Miller Tabak. “At the same time the Fed has printed more money than it’s ever had. If only this bull was based on the true economic fundamentals.”
http://www.cnbc.com/id/40016939?__source=yahoo|headline|quote|text|&par=yahoo
Dow back to pre-Lehman level
Commentary: The Dow might be there but the world is not the same
By MarketWatch
NEW YORK (MarketWatch) — So the Dow Jones Industrial Average is back where it was just before Lehman Brothers filed for bankruptcy more than two years ago.
After a 219-point rally on Thursday, the Dow /quotes/comstock/10w!i:dji/delayed (DJIA 11,435, +219.71, +1.96%) closed at 11,434, or 13 points above its closing level on Friday Sept. 12, 2008.
The ride from then to now, of course, involved a slide that brought the Dow all the way down to 6,547 on March 9, 2009, or a 42% slide in less than six months. The ride back up, as usual, was much harder, taking a year and a half.
Meanwhile, the S&P 500 index /quotes/comstock/21z!i1:in\x (SPX 1,221, +23.10, +1.93%) , which market pros prefer as a gauge of the broad U.S. stock market, remains 30 points below its close on Sept.12, 2009.
There are other eerie signs that would suggest things are, almost, back to where they were two years ago.
In spite of all the cries about the death of the dollar, the dollar index /quotes/comstock/11j!i:dxy0 (DXY 75.85, -0.03, -0.05%) , which measures the U.S. unit against six major currencies, is close to the 76 level. It was at 79 back then. The euro, at $1.41 back then, barely trades above $1.42 right now.
Then, there are the signs that remind us the world is different now than it was back then.
Gold, which traded slightly above $760 an ounce two years ago, has rallied nearly 65% to trade above $1,390 an ounce.
That signals all the distrust markets have for currencies while major central banks, starting with the Federal Reserve, have tried to reflate the financial system and boost their economies.
Then there are the more telling signs about the economy from the markets: Crude oil, although it topped $86 on Thursday, remains 15% below its level of two years ago, when it traded above $100 a barrel.
And then there are yields on long-term government bonds, which normally act as proxies for future economic growth and inflation. The yield on a 10-year Treasury /quotes/comstock/31*!ust10y (UST10Y 2.49, -.00, -0.08%) is now at 2.5%, compared to 3.7% back then.
The Dow’s strong gains since August have taken place as investors have used the Fed’s easing monetary policy to purchase risk assets. But the U.S. economy remains in the dumps, with unemployment at 9.6%.
Of course, what might be back to normal, or at least to the good ol’ days that preceded Lehman’s collapse, are good omens for Wall Street and for financials, which used to be the market’s leaders.
Thursday’s rally, after all, came only one day after the Fed promised to deliver another $600 billion, and two days after Republicans won back enough seats in Congress to fight fresh financial reforms and to keep tax-breaks for the rich and on capital gains.
Is it any wonder that the Dow’s two best performers Thursday were Bank of America /quotes/comstock/13*!bac/quotes/nls/bac (BAC 12.11, -0.02, -0.17%) , up 5.3%, and J.P. Morgan Chase /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 39.70, -0.10, -0.25%) , up 5.5%?
— Nick Godt
http://www.marketwatch.com/story/dow-back-to-pre-lehman-level-2010-11-04?siteid=yhoof
SilentOne
I wasn't aware that you had posted to him until after I hit the submit button.
chris
We are about to enter the earning season. They recently upped GDP for the 3rd quarter and need I point out that historically the next 6-8 months are usually the best of any President's term.
I just can't see this thing rolling over.
gl/gt
chris
This is a very powerful upthrust, one can not help but wonder if the cycles haven't returned to their former length and yesterday was the 5 wk low.
gl/gt
chris
bearish signs?
Well, even as I speak the spx and indu are at support on the hourly chart. That sure isn't bullish coming so soon after the 3.5 day low yesterday?
GDP and the jobless claims better be strong tomorrow.
gl/gt
chris
Normally one would not have anticipated a pullback of this magnitude coming so quickly after a 5/10 wk low.
Appears to be a good call.
gl/gt
chris
totally flabbergasted
gl/gt
chris
Any bets that we hit the 5 week top today? Or is it just wishful hoping on my part?
gl/gt
chris
SilentOne, Slinky
Any opinion on the 2.5wk low?
Already in? Due tomorrow through Tuesday?
I jumped out at the close in my 401k
gl/gt
chris
Bollinger bands on GE have opened up, this hints strongly that a huge move may be imminent.
Furthermore the reactionary high from the previous 2.5 wk cycle has just been taken out suggesting that the 3 - 3.5 day low is already in for it.
gl/gt
chris
Other than the weak volume, today looks like the 2.5wk low is now in.
gl/gt
chris
yep new daily high on the rut and spx now and almost on the indu gl/gt
chris
Getting ready to go into the final hour and being a Friday you'd think that we would already be red. Granted volume sucks so anything can happen but it still looks like a consolidation of earlier weekly gains. Also appears that the market is starting to get stronger.
gl/gt
chris
So far we have had a nice follow through day, consolidating yesterday’s gains and making slightly higher gains, considering that we are in the summer months the volume is pretty decent.
Earnings start in earnest week after next and this would be the ideal time to run upwards into that period if not further.
While I’m prejudice in that I hold GE in my 401k, it may be wise to keep an eye on it in the coming week. It reports earnings 1 week from tomorrow.
If the rally for GE is real, than it needs to bust through its Quadruple resistance between 15.12 – 15.31 no later than tomorrow.
15.12 middle Bollinger band
15.21 reactionary high from the previous 2.5wk cycle
15.25-15.28 approximate downward slanting resistance
15.31 Sar buy signal on the daily chart
http://www.marketwatch.com/story/on-ge-investors-and-wall-street-dont-agree-2010-07-08?siteid=yhoof
Appears a major low came in this past Friday.
jmo
gl/gt
chris