Rising Wedge Should Be Broken Today
#1
Posted 23 January 2014 - 08:49 AM
I have posted all this earlier, plus the rising wedge and irregular megaphone pattern that morphs into a regular megaphone pattern, as well as perfect symmetry to the rising trend channel--new moon low. On top of that, the astro suggests extremely volatility this week and a reversal back up starting next week. I have posted E-Waves too and patterns like the double top last week. Yes, and also I must mention the weekly Bisector Low due on the SPX next week and the Bradley Helio major turn due today.
Anybody who is a technical market analyst can see the MOM divergences along with the OBV divergences on the SPX as it has topped. We also have an inter market bearish divergence as the NASDAQ made all time highs, while the Dow, SPX and NYA did not. The Nasdaq and NYA seem to be stronger than the SPX here, and the Dow Indu/OEX, weaker. On the FED low in December, the Dow and NYA did not not make a divergent low, but the SPX and Nasdaq did. This time the SPX looks like it will, but the NYA and Nasdaq will likely not do so. The Dow is a toss up, but perhaps will join the NYA and NASDAQ leading the market higher into Feb, I'm not sure. I believe the NASDAQ will be the place to invest on the next wave up, but this is also an early warning sign that must not be ignored, as the NASDAQ is typically associated with the more speculative side of the market.
I don't understand why some people on the board are ignoring Mark's indicators as they are warning of an impending decline!
Typically, when too many are bullish, the odds tilt the other way and the results can become extreme, like what I am expecting this week. My forecast last week looks to me to be off only about 2-3 TD's.
Here's a link to the charts:
My Charts
Good trading and remember to be kind to those on this board who make mistakes in their forecasts, including moi, cuz your day may be next!
blu
#2
Posted 23 January 2014 - 09:16 AM
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#3
Posted 23 January 2014 - 09:25 AM
Edited by SemiBizz, 23 January 2014 - 09:26 AM.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
Posted 23 January 2014 - 10:54 AM
yep on larger level 1809+- area is on deck followed by 1790.25+- if we cannot recover the 1827.75 again on a close.I see it as a big ole battle of the Fibs here...
1812 and 1850.
It took 3 tries to bust 1812
We will probably see another run to test this one (attempt # 3) after this pullback.
I'm looking for 1810 to be tested.
Before we test 1850.
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#5
Posted 23 January 2014 - 03:19 PM
#6
Posted 23 January 2014 - 04:12 PM
#7
Posted 23 January 2014 - 04:14 PM
Live by the sword...The SPX snapped back perfectly to the broken trend line at close. It also formed a bearish flag in the process. Looks like 85 to 86 SPX points down tomorrow or about 4.6%.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
#8
Posted 23 January 2014 - 04:26 PM
#9
Posted 23 January 2014 - 06:32 PM
#10
Posted 23 January 2014 - 07:01 PM
What you're continuing to miss here is that the market is limited by the degree of money that's in the system at any one particular time. If money were leading lower, then you might get these kind of "crash" targets, but it's not. But I do agree with the Elliott flat idea, although we're within hours of completion, and flats are patterns of strength when they occur in strongly advancing trends.and Fib, yes I will live by sword, not die. If you all just took a gander at what I brought to you as far evidence, you wouldn't be so skeptical. I did a lot of work to figure this out.
Anyway, another 80-100 SPX points lower from here, even within a week, would need help of a detonation of a nuclear bomb to produce such an result at this time.
As I said this morning, it will pay off later in not getting too greedy, and your opportunity to "hit and run" has probably passed.
Fib
Edited by fib_1618, 23 January 2014 - 07:03 PM.
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions