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Gleno34 - We could be going into a

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northam43   Monday, 08/01/11 04:09:31 PM
Re: GLENO34 post# 1571
Post # of 1590 
Gleno34 - We could be going into a Bear market, but the Monthly EMA 3/8 has not crossed and it is a long way until the end of the month.

So there is no Bear market signal as per my system at this time.

However, since the EMA 3/8 gap is less than 10 points I have issued a EMA 3/8 Buy Blocker which suspends all buying on the long side until the gap exceeds the 10 point zone.

If a Bear market is confirmed at the end of the month, I will then establish a short position using SPXU. A Bear Market average is 7.3 months.

It would be abnormal to go into a Bear Market before a Monthly Phase 1 is confirmed and the Monthly price has crossed above the Monthly UTL for this month, so this is a Phase 2 Month. So that leads me to believe that this maybe just a weekly correction we are going into which would take us to a possible low of 1228.39 over the next 4 weeks and then we go to a high of 1410.59 which would be the next Weekly Phase 2 based on the 1228.39 low.

If we go above 1335 before Friday that would negate the Weekly Phase 1 and the current Weekly Phase 2 would continue which has a projected high of 1400.40

So the bottom line: I believe right now we are either going to a low of 1228.39 in a Weekly correction or a high of 1400.40 in the current Weekly Phase 2. So the Weekly is driving the train right now.

JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."

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