Another Positive 3-Day Cycle as S&P hit projected initial cycle target 1939.50 early followed by some back n fill consolidation throughout the session, with final push at settlement to hit the upper cycle target of 1945.75. The three-day cycle sequence … Continue reading
The probe for a secure low on Cycle Day 1 (CD1) yesterday unfolded as expected retesting critical Average Range Levels and Prior Session Low. Remember, the goal of CD1 is to find a “secure low” from which to stage the … Continue reading
Yesterday completed the 3-Day Bullish Cycle in style having hit perfectly the CD3 average range target of 17.75 handles. (1923.25 low + 17.75 avg = 1941.00 high). Subsequent pullback found solid support at the Volume-Trend MidPoint (VTMP) at 1932.00. Residual … Continue reading
Price has rallied strongly off of Friday’s low at 1890.25, which we view as a temporary secure low, though it may need to be tested at some future point to confirm. As for now price is higher by 10 handles … Continue reading
Further probing for a secure cycle low in the overnight session seems to have been found at 1890.25. Based upon a violation of the CD 1 Low (1899.75), there was a 45% chance of reaching 1889.50. In early morning trade … Continue reading
The down auction enters it’s sixth-day with solid pattern of lower lows and lower highs…i.e. downtrend. It’s been an orderly pullback well within the context of prior symmetrical pullbacks. Final low does not yet appear to be in place, so … Continue reading
We continually hear and read daily from pundits that give their opinion on why markets are going up and why markets are going down…In an age of abundant information, it’s hard to decipher what Bits and Bytes are relevant. Majority … Continue reading
Monday’s “relief rally” from deep extreme oversold readings prompted bargain hunters to buy the recent weakness, to the surprise of shortie, which was forced into covering late in the day. Though the move up appeared strong on the surface, the … Continue reading
Last weeks price action is S&P was squarely down…no argument….But let’s keep the recent pullback in perspective…Look at any long-term chart of S&P..what trend do you see? Answer: Uptrend…Next…How deep percentage-wise have the corrective “symmetrical” pullbacks been? Answer: Minimum 4.5% to … Continue reading
Use whatever reason you believe was the catalyst for yesterday’s sell-down…Here’s a statement that bundles “all” the reasons”..haha…“Fed policy jitters, sanctions on Russia, Argentina’s default, deflation worries in Europe and a batch of weak earnings sent the Dow and S&P plunging to finish … Continue reading