Fearless forecast: Chop 1st, then up into OPEX

Today's close gave us: a Bullish sentiment jump, Low TRIN .41, High TICK 1134, Overbought.
I could see a down close Monday, followed by back up Tuesday, lower down Wednesday.
But not much selling.
1115 is a big area of importance and should be a great buy if touched next week.
WWW coming next week may allow some buying at lower prices to be sold into the March triple witch.
I'm still looking back to July's similar action as a pattern.
A double top & pullback at 1150 might get bears back growling before we take out to new highs going into May's top.

A/D 80% up day is strong.
Hard to just die here.

come on, roger---Is that the way you are playing this or are you wanting it to go the other way? I wish people would just say---based on what I see---I am long/short. Don't explain it, just say here are my charts---you decide. I could be 50% right!!

the spx hasnt come this far to stop without first testing its high from january that much is for sure.... what would be nice would be a pop on monday to test the highs and then we consolidate the entire week ... btw...nice avatar....i think atlas shrugged the movie comes out this year..that and money never sleeps ....gecco....!!!

Edited by atlasshrugged, 06 March 2010 - 12:29 AM.

come on, roger---Is that the way you are playing this or are you wanting it to go the other way?
I wish people would just say---based on what I see---I am long/short. Don't explain it, just say
here are my charts---you decide. I could be 50% right!!

I look at charts and see anytime the MCO is above 150, it's very difficult to get a market drop of any duration.
But we are overbought so we might see some sideways correction.
Any dip that is bought will be profitable into OPEX.

Sorry if I wasn't clear.
Like many here I don't post my positions because they don't matter.
I let the charts speak.

I'll be in Vegas in the morning where there is a better chance of seeing a big drop.
I hope to do a bit of hiking through Red Rock Canyon. It's amazing.

come on, roger---Is that the way you are playing this or are you wanting it to go the other way?
I wish people would just say---based on what I see---I am long/short. Don't explain it, just say
here are my charts---you decide. I could be 50% right!!

I look at charts and see anytime the MCO is above 150, it's very difficult to get a market drop of any duration.
But we are overbought so we might see some sideways correction.
Any dip that is bought will be profitable into OPEX.

Sorry if I wasn't clear.
Like many here I don't post my positions because they don't matter.
I let the charts speak.

I'll be in Vegas in the morning where there is a better chance of seeing a big drop.
I hope to do a bit of hiking through Red Rock Canyon. It's amazing.

Beautiful pics Roger! Have a great time. I'll be RV-in' in Nevada and New Mexico (and who knows - maybe Oklahoma ) in May and June with my bride and my puppy dog and your pics are giving us ideas. How far is that from LV? Which direction?

Btw, I absolutely agree with your take on the market. I don't remember seeing Jason's ST indicator quite that extreme. Should put a damper on this runaway freight train for a few days - plus I know the cycle boys (Hurst guys, Rocketman, others) all show a cluster of lows next week, so that too aughta give us some nice buying opps. 'Cuz, indeed, the line of least resistance is UP till it ain't.

Best Regards, D

the majority of my triathlon training was done in red rock....i also used to take the speedster through there with spinners!

come on, roger---Is that the way you are playing this or are you wanting it to go the other way?
I wish people would just say---based on what I see---I am long/short. Don't explain it, just say
here are my charts---you decide. I could be 50% right!!

I look at charts and see anytime the MCO is above 150, it's very difficult to get a market drop of any duration.
But we are overbought so we might see some sideways correction.
Any dip that is bought will be profitable into OPEX.

Sorry if I wasn't clear.
Like many here I don't post my positions because they don't matter.
I let the charts speak.

I'll be in Vegas in the morning where there is a better chance of seeing a big drop.
I hope to do a bit of hiking through Red Rock Canyon. It's amazing.

Nice pictures---I noticed the red getting weaker at end of photo. But I don't see buying the dips next week will help. Your last photo gives a better range. I am long thru the selling next week (if it happens)
but will get short Fri. If buying comes in all week. What is wrong with posting a position---I'd rather see that than---- if this than that charts?

Nothing wrong with posting positions if you are willing to post every little change because some back bencher will constantly challenge your most current post say: "Well I thought you were short yadda yadda yadda."
I think a blog is best suited for that as it provides a web-log thus a "blog" which is readily checked.

Don: How far is that from LV? Which direction? Easy drive about 14 miles west of Vegas.
There is an 8 mile driving tour. $5 per car with interesting stops along the way.
Many rock climbers will be there. There is a nice long hiking trail near the end of the tour that even we older folks can handle.
I'm headed to the airport now. By all.

Terry agrees with me.

The interesting observation for Friday's data was the Arms reading of 0.4, an exceptionally over bought number. The last 5 days readings are also getting very low, signaling a topping pattern for the near term. This is in line with our last post (below) of a small VO T with a top projection of March 8-11.

Remember to check out the fossils..they're everywhere.