SPX Roadmap – More details…will it work?
Will gold follow my Path??
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
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
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!