3 replies to this topic

[eminimee]

Any way I slice it......another trip to at least 1400 area is in the cards. This chart isn't demonstrating my reasons....I've got a ton of them which I have expressed before...just showing my FF..with two options after hitting the 1400 area.

updating that oex put trade here...by the way...I said my average cost was 8.25 turned out it's 8.10.

http://www.traders-t...showtopic=66060

http://stockcharts.com/c-sc/sc?s=$NYAD&p=D&yr=3&mn=0&dy=0&i=p71902903590&a=46505665&r=2617.png

[eminimee]

Over the past few weeks money has been leaving the big caps and moving into MID and RUT while OEX takes a rest. The oex:spx ratio has been dropping.
And I think only a rest during this up coming correction,then I think the OEX:SPX ratio really gets on the move upwards ala 1994/95 break out of that ratio.
OEX MUST hold the 615 area however for that scenario to stay alive. I've got a relatively wide target where OEX can bottom ranging between 615 and 640 eventually.
Have a gander at these and hopefully they can explain what I'm thinking. the first two you really have to study a bit as they are busy charts but quite cool if I do say so myself. lol
I'm too busy to post all the charts here...but if you want a link to them...it's here. I tried just linking the url to the charts here but no annotations show up on them. sorry for link


http://www.investors...age_id=16914798

Edited by Teaparty, 09 February 2007 - 06:39 AM.

[Net]

And I think only a rest during this up coming correction,then I think the OEX:SPX ratio really gets on the move upwards ala 1994/95 break out of that ratio.

http://www.investors...age_id=16914798

Hi Teaparty,

Interesting comment.

Sorry for no charts... but I did take a look at some long range projections on the RUT this AM. I like to look at history with my analysis, to see how the projections would have worked out in the past. Using the 515 low as the focus point, the long range target (prior to the recent breakout) for the Russel projected to 798. As it happened, that level did create a nice reaction, but did not terminate the move.

Reassessing on a shorter time frame (with that target now taken out) and looking forward VST, the 830 area is of interest... (band of resistance from about 827-32). It's a little sloppy picking these targets because I don't have clean alignment with highs and lows, so there is some estimating of the points. I've noticed that this VST upside target finds confluence with the short term rising trendline drawn from the 11/15 and 12/05/06 highs.

Re-assesing the long term projections, the next rally projects the Russel into the 900 area, with the lower target around 880 and the higher target around 915. Need to see another IT high and low to have a more accurate projection.

It looks to me like we're in 5 of 3 now, with big 5 starting after the big 4 IT correction (big 1 starts at the 516 low). That would tend to concur with what your seeing in the OEX.

[eminimee]

Thanks Net......I have a short term target on ER2 march of 826/27 that still could get hit if we indeed need one more high fwiw.