12 replies to this topic

[NAV]

The LT trend (Monthly) is up. The IT trend (Weekly) is up. The ST trend (Daily) is down. The VST trend (Hourly) is down, but close to turning up. As long as the IT trend is up, every turn up from a Daily/hourly bottom is a buying opportunity, which they have been. The IT pivot as i have been saying for the last month or so, comes around 1480. If that cracks, then a retest of the Aug lows is in order. Otherwise, up we go towards SPX 1600+ in the ST and 1650+ in the IT. Not a thing has changed. P.S - If 1480 cracks for some reason, then (see my avatar ) i wil start shorting the bounces. A crack of 1480 means the IT has turned from up to down. It does not affect the LT trend and my LT objectives will still remain intact. Again, one baby step at a time.

Edited by NAV, 04 November 2007 - 02:34 AM.

[eminimee]

fwiw ...I'm giving support a little lower before bowing to a test of aug lows...a simple abc....from the top has a C=A target of 1466. My key number is oex 670...below there on a close and then I'll be thinking Aug lows.

[vitaminm]

spx current trend to 1608........if continues 1662 oex......757.......776

[swinger]

The LT trend (Monthly) is up.
The IT trend (Weekly) is up.
The ST trend (Daily) is down.
The VST trend (Hourly) is down, but close to turning up.

As long as the IT trend is up, every turn up from a Daily/hourly bottom is a buying opportunity, which they have been. The IT pivot as i have been saying for the last month or so, comes around 1480. If that cracks, then a retest of the Aug lows is in order. Otherwise, up we go towards SPX 1600+ in the ST and 1650+ in the IT. Not a thing has changed.



P.S - If 1480 cracks for some reason, then (see my avatar ) i wil start shorting the bounces. A crack of 1480 means the IT has turned from up to down. It does not affect the LT trend and my LT objectives will still remain intact. Again, one baby step at a time.

You and I are on the same page.

I have IT trend change at 1490, but strong support just below at 1479.

All four trends revert to up > 1517

[ogm]

Monthly trend will be up even if SPX drops to 1290. If that is any consolation.

[qqqqtrdr]

NAV: Agreed with you here. I do have an early Intermediate trend indicator change that primarily uses AD/Declines, it switch negative a week ago, and almost positive on Wednesday, but Thursday's sell-off puts my Intermediate Trend also down. Long term is still up. I must note that NASDAQ is really the only indices in a definite Intermediate uptrend ( albiet with negative divergences ). Barry

[ruffwood]

Appreciate your KISS NAV, most other analysis is over my head.

[NAV]

Monthly trend will be up even if SPX drops to 1290. If that is any consolation.

And your point ?

[ogm]

Monthly trend will be up even if SPX drops to 1290. If that is any consolation.

And your point ?

No point really. Nothing can save this market from decline. And I'm basing this statement purely on technicals. And yet whatever decline will happen won't neccesserily mean end of the world. At least not yet.

1480 will be broken within several days. I'd use monday morning pop to sell short. The swing is in.

[eminimee]

Nav...are you getting any feel for the situation in Pakistan and how it may effect markets..... if any? I know you are in India...just thought you might be closer to the news. TIA