17 replies to this topic

[blustar]

I have today as an important top. We have a full moon near a top, and the 8 TD top is running + 2 TD's, something I alluded to earlier as being possible.

The NASDAQ Comp and SOX are making new highs here, but the SPX, NYA, OEX and especially the Dow Indu are lagging badly, creating a nasty inter market divergence. OBV is not confirming, neither are the MOM indicators.

I have 3 charts on my site that show the SPX, OEX and NASDAQ Comp: with e-waves and cycles etc (I may add more later).

The whole pattern is known as an Expanding Bullish Flat, and once resolved, should launch us much higher into Feb (to new highs) so, IMO, it will be another buy the dip opportunity.

Yesterday launched out of the Gann 16 TD Low, but we still have the 13.7 Mo. Cycle Low to deal with.

OPEX should be the biggest down day of the next 4 TD's.

CHARTS

[SemiBizz]

RUT just made a new high DJT same BKX making new highs... What divergence? Cycle overlap, think of it that way. You got to bust 1810, and stay out of 1850s here...

[blustar]

RUT just made a new high

DJT same

BKX making new highs...

What divergence?


Cycle overlap, think of it that way.


You got to bust 1810, and stay out of 1850s here...

OEX, SPX, NYA and DOW INDU are diverging OTW, you have the SOX, Nasdaq Comp, Nasdaq 100, RUT, BKX and Trans diverging with the other 4

[SemiBizz]

And all of those just made new highs in the past few weeks... Don't confuse sector rotation with divergence... SPX is pushing on it's Fib here. We'll see if it rejects or not. It took three tries to break 1812. We'll see.

[SemiBizz]

Really only the oil group is weak, we'll see what happens on the oil report, right now in fact. XOI down 1.52 here

[andiron]

bullish so far...there is a potential for a sell off...(there always is)..but nothing that forces me take a short position yet

[blustar]

I have added the hourly chart "extensively" complete with cycles, e-waves, charting analysis, etc., as to why I believe we go down to SPX 1729/30 by Jan 21.

4th Chart Down at Site = "Extensive Chart Analysis"

[SemiBizz]

No more Divergence.... SPX just made new all time high.

[SemiBizz]

Got any alternate models?

[SemiBizz]

I have added the hourly chart "extensively" complete with cycles, e-waves, charting analysis, etc., as to why I believe we go down to SPX 1729/30 by Jan 21.

4th Chart Down at Site = "Extensive Chart Analysis"

"The Volume is not confirming"

That's true, but a bearish upthrust can go on for a long, long time.

If you look at Nasdaq, you don't see confirming volume on the daily.

But you do on the WEEKLY, and longer time frames trump...