Buy-Signals, Sell-Signals and da-Boyz, Oh My, LOL!?
As expected the Buy-Signal did alert us to the EIGHT days in a row of Higher CLOSES, BUT, our suspicions in regard to the upness reaching it's apex was correct and now we find prices right back down at the YTD OE Pivot, 44.46, Very Interesting!?
We did get a New Sell-Signal at the CLOSE on Friday that generated a new negate number of 45.23 so we'll be watching that level with high interest going forward!?
The current Buy-Signal is still in effect since we did NOT violate the negate number of 44.06!??
The S&P500 remains below the YTD Pivot, 1102.47, CLOSED just below it's S1, 1074.91, at 1064.88 and this morning threatens to back-test said S1 level!?
All that said we suspect the ST TOP is Near and we'll have another opp to re-load longs before the Year-End Rally ensues??
1212.72 10.00%
1185.16 7.50%
1157.59 5.00%
1130.03 2.50%
1102.47 0.00% OE Pivot
1074.91 -2.50% S1 (tagged 24Jun)
1047.35 -5.00% S2 (tagged 29Jun)
1019.78 -7.50% S3 (tagged 01Jul)
992.22 -10.00%S4
964.66 -12.50%S5
937.10 -15.00%S6
909.54 -17.50%S7
881.98 -20.00%S8 (Our FINAL, into the Abyss, wave count target)
In summary, we think the ST TOP is in if we can NOT close above the S&P500 YTD Pivot, 1102.47? We'll be removing more long plays today on the GAP up and positioning for a continuation down?
4cast says, a revisit of the R1(45.57), is in order before we continue down!?
Date Open High Low Close
16-Jul 45.44 45.63 44.30 44.34
4cast
19-Jul 44.52 45.27 44.39 45.25
Buy-Signals:
In Full COntrol at dis-Time!
No, Date, Negate #
1) 05Feb, 42.44
2) 11Feb, 43.12
3) 12Feb, 43.21
4) 25Feb, 44.04
5) 22Mar, 47.32
6) 22Apr, 49.68 (Negated 27Apr)
7) 29Apr, 49.60 (Negated 30Apr)
8) 06May, 45.99 (Negated 07May)
9) 12May, 48.01 (Negated 13May)
10)21May, 44.24 (confirmed 24May)
11)25May, 44.14 Not Confrimed
12)27May, 45.30 (Negated)
13)02Jun, 45.67 (negated 04Jun)
14)10Jun, 44.51 (confirmed 11Jun)
15)11Jun, 44.93 (confirmed 14Jun)
16)15Jun, 46.13 (negated 23Jun)
17)07Jul, 43.96 (confirmed 08Jul)
18)09Jul, 44.06 (confirmed 12Jul)
Sell-Signals:
Sell-Signals have definitely dominated the scene since 11Mar, BUT, they stand in awe as da-Boyz wipe out the remaining Shorts!
NO, Date, Negate #
1) 11Mar, 48.30
2) 12Mar, 48.31
3) 16Mar, 48.50
4) 18Mar, 48.79
5) 22Mar, 48.88
6) 23Mar, 49.22
7) 25Mar, 48.91
8) 29Mar, 49.19 (Negated 13Apr with a close above!)
9) 14Apr, 50.91 (confirmed with an additional Sell-Signal 15Apr)
10)15Apr, 51.13 (confirmed on 16Apr)
11)27Apr, 50.34 (confirmed on 28Apr)
12)30Apr, 50.22 (confirmed on 03May)
13)04May, 49.40 (confirmed 05May)
14)07May, 46.32 (Negated 10May)
15)13May, 48.81 (confirmed 14May)
16)18May, 47.36 (confirmed 19May)
17)20May, 45.24 (confirmed 21May, negated 27May)
18)01Jun, 46.14 (negated 02Jun)
19)04Jun, 45.99
20)07Jun, 45.16 (confirmed 08Jun)
21)09Jun, 44.70 (negated 10Jun)
22)21Jun, 47.53 (confirmed 22Jun)
23)22Jun, 47.16 (confirmed 23Jun)
24)24Jun, 46.26 (confirmed 25Jun)
25)29Jun, 44.24 (confirmed 30Jun)
26)30Jun, 43.56 (confirmed 01Jul)
27)06Jul, 43.45 negated 07Jul
28)16Jul, 45.23
Last but defintely NOT Least is the OEPM S/R lines of meaning!
53.35 20.00% R8
52.24 17.50% R7
51.13 15.00% R6
50.02 12.50% R5 (Serious resistance as of 30Apr)
48.91 10.00% R4 (violated 04May, look to the R3 for guidance now)
47.79 7.50% R3 (violated 14May, hasn't been seen since)
46.68 5.00% R2 (violated 18May on a close-ing basis and back-tested 19May)
45.57 2.50% R1 (violated 20May and NOW Serious resistance)
44.46 0.00% YTD OE Pivot (Once thought to be the FINAL Discount wave target, close at 44.35 on 20May and another violation will Open the FLOOD gates to start vilating the Support levels!!??)
43.35 -2.50% S1 (tagged 29Jun)
42.24 -5.00% S2 (tagged 01Jul)
41.13 -7.50% S3
40.01 -10.00% S4
38.90 -12.50% S5
37.79 -15.00% S6
36.68 -17.50% S7
35.57 -20.00% S8
