1309.67...was that the low for now?

1309.67 was the low so far and it's bouncing.
It's close enough to my 1310 mentioned yesterday.
But if/when we lose that area, get out the band aids.
Existing housing was up a bit and re-fi's got a nice boost:
"Refinancing applications jumped 17.8 percent in the February 18 week with purchase applications up 5.1 percent"
Maybe that can help...for now.

Today ended 11 weeks of higher lows and 1310ish better hold on the weekly.
I find the 3 rallys interesting from a FIB relationship.
The one from August was 187.38, the second was 115.8 points, almost exactly 61.8%, and this last one was 67.54 points, 32.8%, and the number of weeks seem close to the same FIB relationship, 11,7,3.

On the daily, Jack Chan's charts show the crossing of MACD's is imminent on SMH, QQQ, DIA, and SPY.
http://stockcharts.c...t...04&cmd=show[s77560190]&disp=O

I think Mark Young looks at the MACD crosses as a short therm fade, so maybe when a correction is "confirmed" we could see a counter rally before going even lower.
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p07830912236&a=207728465&r=8650.png

Edited by Rogerdodger, 23 February 2011 - 10:27 AM.

In Sunday's T Theory, Terry opined that we could see a down day or two followed by a little rally before hitting the "March low." A-B-C anyone?

I hope so. Thank you for the update Sir. I am sweating blood and I am not sure what kind of uptrend this is.

1309.67 was the low so far and it's bouncing.
It's close enough to my 1310 mentioned yesterday.
But if/when we lose that area, get out the band aids.
Existing housing was up a bit and re-fi's got a nice boost:
"Refinancing applications jumped 17.8 percent in the February 18 week with purchase applications up 5.1 percent"
Maybe that can help...for now.

Today ended 11 weeks of higher lows and 1310ish better hold on the weekly.
I find the 3 rallys interesting from a FIB relationship.
The one from August was 187.38, the second was 115.8 points, almost exactly 61.8%, and this last one was 67.54 points, 32.8%, and the number of weeks seem close to the same FIB relationship, 11,7,3.

On the daily, Jack Chan's charts show the crossing of MACD's is imminent on SMH, QQQ, DIA, and SPY.
http://stockcharts.c...t...04&cmd=show[s77560190]&disp=O

I think Mark Young looks at the MACD crosses as a short therm fade, so maybe when a correction is "confirmed" we could see a counter rally before going even lower.
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p07830912236&a=207728465&r=8650.png

I forecast SPX 1309/10 no later than early Wednesday at the open yesterday. I think we go up until Friday to the upper 1330's and minimum 1350 by Wed next week then down we go into Mar 14.

Jack Chan's thin ice with the MACD cross:

http://stockcharts.c...06617&r=629.png

Edited by Rogerdodger, 23 February 2011 - 10:34 AM.

Jack Chan's thin ice with the MACD cross:

http://stockcharts.c...06617&r=629.png

when does the MACD crossing give an actual signal? if its when a trendline is broken, then the Nov sell is incorrect...the sell would have been a few days later at the low of that wave.

Edited by tommyt, 23 February 2011 - 10:38 AM.

If 1307 breaks we're going well under 1300 most likely.

It is judgment, but crosses need to be confirmed by time, I like to use other momentum indicators to see if I will take the signal. RSI, FMI, many OBV. Personally I think filling 1284 gap is possible. Flat today, Islander

I hope so.
Thank you for the update Sir.
I am sweating blood and I am not sure what kind of uptrend this is.

Cant have a fire without a spark.. Bruce springsteen

No tidal wave without a b wave... Elliott

I hope so.
Thank you for the update Sir.
I am sweating blood and I am not sure what kind of uptrend this is.

Cant have a fire without a spark.. Bruce springsteen

No tidal wave without a b wave... Elliott

Who is Elliot?

What tidal wave are you talking about?

Is this Elliot guy upto something?

Is the trend still up?

What do you mean by "fire" and "spark"?

Do you mean I am about to get burned completely?

Please clarify.