3 replies to this topic

[SemiBizz]

Today's RUT Forecast:

Now in looking at the weekly chart for the RUT what we had here was a very long sideways weekly pattern that began in October of 2013, and extended until there was a breakout in mid February in what as a trading range we defined from 1076 - 1213. In fact we traded within those parameters all except the Ebola Lows in October 2014, testing the low exactly 52 weeks from the breakout.-nice symmetry.

So as I also previously defined to you a support area of 1208-1213, and we did get the test to 1206, and then busted right back up to a new high... which as you recall was exactly what we outlined, including a forecast for a test of 1266 and it made it's high at 1268, from there we outlined a test of support at 1243, and we got that and more with a low of 1225.. now if we have an ABC Up structure, we can only BEGIN to recognize it on a test of the previous high at 1268, and then it would have to close OVER IT, and that would give us an ABC Up target of 1287. We previously outlined to you the two distinct trading ranges we see here from 1247-1264 and 1266-1284. For the moment the action in RUT is still bullish, but we also have some qualifiers on that ... and that is in order to prove it can connect to a test of the high we will need to see RUT climb and maintain 1260, so that's your magic upside number and if it fails, 1243 is waiting. Along with the Trannies, we will be watching this index very closely on Monday.

[SemiBizz]

Some stuff doesn't line up to a top yet...

This one usually tops out ahead of everything else....

Earnings on 4/16 Thursday before OPEX...

They are still buying the mystery.

http://stockcharts.c...28337277244.gif

[SemiBizz]

Still tough sledding for the Trannies...

Crude back over $52

Here Is the "leader" in today's round.. UP 33 here

http://stockcharts.com/c-sc/sc?s=$XOI&p=D&yr=0&mn=1&dy=0&i=t96056782921&r=1428346344650.gif

Still waiting for my price...

Monday's XOI Forecast:

The weekly chart of the XOI is showing us we had a fairly steep downtrend from the high of 1730 in the last week of June down to the low of 1211, the week of December 19th... or more than 500 pts. Now we closed on Thursday at just under 1336, and although there was a strong bounce off the low that carried it to 1420, in February, there was not even a .50R for the XOI. Currently we see a trading range here for the XOI between 1310-1381....On the other end of this trading range is 1381, which I have discussed more than a few times, so if It does come back with a better markup, especially if crude pushes even higher now, we could see this run to 1381, and that would build a risk/reward setup to short this group with the proper tight stops.

Edited by SemiBizz, 06 April 2015 - 01:59 PM.

[4caster]

Today's RUT Forecast:

Now in looking at the weekly chart for the RUT what we had here was a very long sideways weekly pattern that began in October of 2013, and extended until there was a breakout in mid February in what as a trading range we defined from 1076 - 1213. In fact we traded within those parameters all except the Ebola Lows in October 2014, testing the low exactly 52 weeks from the breakout.-nice symmetry.

So as I also previously defined to you a support area of 1208-1213, and we did get the test to 1206, and then busted right back up to a new high... which as you recall was exactly what we outlined, including a forecast for a test of 1266 and it made it's high at 1268, from there we outlined a test of support at 1243, and we got that and more with a low of 1225.. now if we have an ABC Up structure, we can only BEGIN to recognize it on a test of the previous high at 1268, and then it would have to close OVER IT, and that would give us an ABC Up target of 1287. We previously outlined to you the two distinct trading ranges we see here from 1247-1264 and 1266-1284. For the moment the action in RUT is still bullish, but we also have some qualifiers on that ... and that is in order to prove it can connect to a test of the high we will need to see RUT climb and maintain 1260, so that's your magic upside number and if it fails, 1243 is waiting. Along with the Trannies, we will be watching this index very closely on Monday.

A "forecast" does not contain the word "if". If one is discussing support and resistance, in order for that discussion to be
a forecast one must say that the indeces or stocks will break above resistance or drop below support. In your discussion
here you say if but don't say if the indeces will break support or resistance.