6 replies to this topic

[airedale88]

the 1518 area on SPX, the most conservative price projection on the chart i posted monday, was achieved today. i see nothing impeding SPX from reaching the higher 10 wk cycle projections shown on that chart. NASD Comp will meet it's 10 wk price projections also, that chart posted the week before. we're coming off a very important 4.5 yr cycle low. the cyclic trend is up, and very strong. there are a large number of posts on this board and others bewailing the fundamental conditions right now, to the extent of ignoring the very bullish underpinnings of this market. just as in 2003, it's very typical IMHO of the early stages of a new 4.5 yr bull run.

[wyocowboy]

Airdale, your observation of the cynical attitude toward the extremely bullish underpinnings is spot on - the constant ignorance of reliable long term technical evidence is indeed very bullish and typical of the birth of a new bull market....

[pisces]

the 1518 area on SPX, the most conservative price projection on the chart i posted monday, was achieved today. i see nothing impeding SPX from reaching the higher 10 wk cycle projections shown on that chart.

NASD Comp will meet it's 10 wk price projections also, that chart posted the week before.

we're coming off a very important 4.5 yr cycle low. the cyclic trend is up, and very strong.

there are a large number of posts on this board and others bewailing the fundamental conditions right now, to the extent of ignoring the very bullish underpinnings of this market. just as in 2003, it's very typical IMHO of the early stages of a new 4.5 yr bull run.

AIRDALE,many THANKS to you for continuosly posting your analysis.

i stayed on the wrong side of the market too many times ,because i had an opinion as to what the MARKET SHOULD do.

Bless you and may the trading gods smile upon you.



THANKS...pisces.

[Russ]

Repost of the chart for convenience sake. Looks like about 1537ish is the first target, followed by 1575ish. Seems to be stalling out around 34, some retracement may be needed before higher levels.

Edited by Russ, 19 September 2007 - 09:01 AM.

[esther231]

Great work, as always. Much thanks.

[airedale88]

Repost of the chart for convenience sake. Looks like about 1537ish is the first target, followed by 1575ish. Seems to be stalling out around 34, some retracement may be needed before higher levels.

russ, thnx for bringing my chart back up. (i get lazy ). SPX has reached that second price projection as expected, i do expect the higher projection will also be met, though it could take some more time.

this envelope chart shows SPX has reached it's upper 4% band and has printed above it. that kind of thrust is very bullish for the intermediate term. at the same time, maybe a breather or slow down in the rate of ascent will be needed soon. the next short term cycle low will be the 2.5 wk nest of cycle lows, not due till next week.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p52549425395&r=2130.png

[Russ]

Your welcome Airedale, its the least I can do. Thanks for posting your work. Looks like ES may have to close its gap at the 1531 level before a resumption of up. That massive bullish candle after the fed anouncement is likely going to be retraced eventually too, at least part way down.