SPX - VXO New
#1
Posted 23 September 2007 - 05:07 PM
Well after reviewing many charts and indicators, it appears that the bottom is in. However, a "V" bottom is very rare and often is followed soon by another quick "V" or double "V" bottom, even at higher or lower lows. We are on the verge of a very large move and IMO to the upside. I also think we get at least one more scary down move. NONE of these opinions are just mine alone, I got lots of company.
Below are two charts that will signal quickly where we are . The VXO still has not broken the RED HZ. line to the upside but appears to be ready soon. Carl at DP says we broke out of the triangle and I agree. I also see two potential movements both in a larger triangle failure/breakout and in a channel retrace to lower TL and so forth. Great times ahead, be ready.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=7&dy=0&i=p71826300982&a=116044349&r=7822.png
http://stockcharts.com/c-sc/sc?s=$ONE:$VXO&p=D&yr=0&mn=3&dy=0&i=p04265175043&a=117451476&r=2958.png
Comments always welcome.
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#2
Posted 24 September 2007 - 05:47 AM
We are on the same page. If it weren't for the FED dramatics, I would be a lot longer in core positions. Remember this?
Meanwhile I watch this chart of yours. It would not surprise me if this chart confirms a bottom next week.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p77850608334&a=113511538&r=1010.png
I read Carl Swenlin's comment this weekend as well. So as I mention in a recent post, the challenge will be where and when to pick long entries from here. I still see consolidation from here into October, but a test of the highs could be dramatic (ie. Major Bull Market Breakout time). It is the same dilemma in the PM sector.
cheers,
john
#3
Posted 24 September 2007 - 07:12 AM
#4
Posted 27 September 2007 - 10:03 AM
Edited by mss, 27 September 2007 - 10:04 AM.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#5
Posted 27 September 2007 - 10:13 AM
#6
Posted 27 September 2007 - 03:39 PM
1552.39All very well but do you see 1560 before OCT expiration?
regards.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#7
Posted 27 September 2007 - 04:14 PM
#8
Posted 01 October 2007 - 06:55 PM
1552.39All very well but do you see 1560 before OCT expiration?
regards.
Doug,
Is 1549.02 close enough, or are you good for tomorrow? 0.002% error, i'll do better next time.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#9
Posted 04 October 2007 - 03:19 PM
I'm not sure what this market wants to do with the unemployment number Friday, but I would have to guess there will be limited upside after that occasion. Do we get bear capitulation tomorrow?
So the SPX is +4% from FED day. Now just give me a decent opportunity to add some longs this month.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p77850608334&a=113511538&r=1010.png
I guess market sentiment has changed some from August (ie. YES!! the bottom is in)
cheers,
john
#10
Posted 04 October 2007 - 09:46 PM