SPX Roadmap – More details…will it work?

Lets see if it follows the purple line! Do you think so?

Will gold follow my Path??

Follow the white line! See is time on my side?

SPX-where we go now?

So resistance did hold to the “DOT”….Finally fog is clearing on my crystal ball 😛 ! Fall till 1120 likely? Lets see if it does!

 

Rally done…almost?

Next Projection

Previous projection was close enough (Finally)…lets see how this one turns out.

 

 

Shine fading away

Negative divergence on weekly with price going up…expect a top soon?? … Triple top or 1500?

Down target marked green!!!

On side note: Oil totally went in opposite direction of my expectation….DAMN!!!

Even Longer Term DJIA

Quaterly Chart of DJIA….. Mega huge MACD Divergence!!!  No Elliott wave expert…..but it seems like 30s were a down move (II) and hence we have running flat (IV) now!!!

SO Will there be a Multi year Move 5?? Say into 2015 and to DJIA 30K??

SPY Fib-Lines

Fib-line (Green) Acting as resistance?

SPX-Heads or Tails

What a DAY!

What Do I see:

• Bullish if price goes over 1120.
• Bearish if goes below 1050.
• Likely support at 950-960 (If I have to guess exact number, it would be 958).
• Green lines are my Chart art (projections). Technical Analysis is an ART!
• ADX black line indicates trend strength but not the direction. When price was going down (from 1150 to 1050)  DI- was greater than DI+ indicating the downtrend and ADX started to rise => trend was strengthening.  Then ADX line reversed from about 35. While price started to rise,  for a short time DI+ became greater than DI- but ADX value kept on falling suggesting that lack of uptrend strength. Now DI- is back being greater than DI+. Now if the ADX starts to rise (as shown in the image) this would make for a bearish case.
• MACD under zero, hence crossover suggest [up]correction. It has a slight hint of topping out.
• Interesting observation: Line at 1044 acted as resistance on Oct 2008 and support on 05Feb 2010. Any relation between these times or just coincidence??

What a day today!!! Every time you get excited, market makes you humble!! In the morning Bull were jumping off the window and later in the day it was bears turn.

I do have a bearish bias, but being bull is no fun either!

Cheers!