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TOPIC: S&P 500

S&P500 12 Nov 2013 08:22 #1

  • Jackozy
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Here's a simple view showing why 1746 provided the bounce the other day. Shame I hadn't seen this at the time:

SP500daily11_11_13.png


dl.dropboxusercontent.com/u/20815047/FTS...500daily11_11_13.png
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S&P500 11 Nov 2013 11:55 #2

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diver993 wrote:
Hi Wavesurfer,

I never did understand the pitchfork - except for use with hay - perhaps you would be so kind as to educate me?

WS - may do a video on it and send it to remo, there is lots of information available on the net via google or look at "Median Line Study"...

I didn't mean to infer a correction was about to happen, merely a retrace often happens at 100% extension. We wait to see huh?

WS - was not in response to your post, i had intend to post on both spx n dow over the weekend. i agree with you btw ;-) but remember that 1779 was hit in futures - cash market it has yet to hit.

futures market we hit 79 and immediately got a reaction 79 > 39 pullback and powered back up again.

As a trader i want a decent pullback, maybe that was it on thurs/friday last week, enough to satisify, but there is a gap and i must take note and keep an open mind of it which is around 1733/34 spx. the pullback will be imo an opp to buy the dip.

either way, i think this week is going to be important to determine where we are headed short and longer term. im bully.

rgds WS
Diver
Last Edit: 11 Nov 2013 11:56 by WaveSurfer.
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S&P500 11 Nov 2013 07:29 #3

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Hi Wavesurfer,

I never did understand the pitchfork - except for use with hay - perhaps you would be so kind as to educate me?

I didn't mean to infer a correction was about to happen, merely a retrace often happens at 100% extension. We wait to see huh?

Diver
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S&P500 10 Nov 2013 13:40 #4

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the power of the bull.... :)

here is the weekly SPX chart - may look complex at first sight but it really is very simple and powerful clues esp when Fibonacci as at work - really is forking amazing ;)

dl.dropboxusercontent.com/u/40497882/S%2...BullMarket_fibbo.JPG

SP500_weekly_BullMarket_fibbo.JPG



my 1st target of 1779 is met, my next target is 1800/1850 (mentioned on the chat feature to the regulars for several weeks now)and ultimate target is in 1900's maybe the end of the bull ???, we will see if it get there, as i say 1 step at a time, price it is trading within, abv or below is the important factor.

also i posted up back in may 2013 yearly projections on dow, ftse n spx. here's the updated yearly currently. ;) Spx at the time was approx 1550


SPXYearly_Update.JPG


dl.dropboxusercontent.com/u/40497882/SPX%20Yearly_Update.JPG

i'd be very careful to call the top until key levels are broken down first, dont meant to say a pullback wont come but that is very different to a correction - equally it is also time to be cautious until confirmation of breakout, one way or the other.

Dow potential has a very parabola bull count if it plays out (see my last dow post)

all imho DYOR.... & all the best

Regards WS (remain open minded and trade my numbers up n down)
Last Edit: 10 Nov 2013 13:50 by WaveSurfer.
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S&P500 10 Nov 2013 10:12 #5

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dl.dropboxusercontent.com/u/7238706/S%26P%20500%20INDEX.png

Apologies if this has already been posted but, do you realise we have already achieved a 100% extension of the move up from 2009 to 1370.6 of April 2011? It looks pretty neat and time for a retrace back to the trend line ..... maybe??
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S&P500 08 Oct 2013 08:48 #6

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Just had another look at this and the trendline is at 1666 so not quite there yet. Not sure where it is on the cash chart...
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S&P500 08 Oct 2013 07:54 #7

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Quick update as this hit the important trendline in the futures market last night (1668):

SP500daily08_10_13.png


dl.dropboxusercontent.com/u/20815047/FTS...500daily08_10_13.png

My stops are at 1664, just below the 1665 high of the big doji from a few weeks ago.
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S&P500 04 Oct 2013 11:57 #8

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Not S&P 500, but benchmarking with other UK FTSE, FRES and KAZ, both approaching key supports, 866p and 233p, respectively, if fail then downtrend could continue.

Interesting times, with miners down (KAZ may test lows of November 2008 179p and FRES test -61.8% fib (866p again)of rise from 105p (November 2008)and general markets trending up still for now, HH and HL.
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S&P500 04 Oct 2013 07:59 #9

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S&P500 is approaching the main uptrend support from Nov 2012 lows now. It's at 1664 today, rising each day. Last time round, Dow dropped through it's equivalent but S&P held at 1627 so could be the same this time round. If it fails then almost certainly we're in Primary 4 already as this should hold if Primary 3 is still in play (possibly one last move up for P3?).

Remember your stops.

SP500daily04_10_13.png


dl.dropboxusercontent.com/u/20815047/FTS...500daily04_10_13.png

Personally I find SPX to be much more predictable than Dow, probably because the vast majority of traders in the US trade this rather than DJI. I realise this is countertrend but it's a pure trendline play so worth a stab on first attempt.
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S&P 500 24 Sep 2013 21:42 #10

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In spite of closing on a downer tonight, the S&P is still on an up-trend, technically:




However, a number of options are open for the very near term:

1. A mini correction (ending on Thursday), or,

2. A slightly bigger correction, dropping to the 1650s - spanning over a dozen or so sessions, or,

3. Wait for tomorrow's session to close to see if the next (end of day) candle will result in a morning star pattern; so will keep an eye on this, and if confirmed, then this scenario ends the mini-correction, over the previous 4 sessions, and up we go again.

4. None of the above!


p.s. Apologies for the weak chart, I'lll be just in time to take advantage of the CV/MetaStock deal before it expires!

Good luck folks!
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S&P 500 20 Sep 2013 04:28 #11

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I've closed my dow short for a 45 pip gain. Best safe than sorry!
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S&P 500 19 Sep 2013 16:58 #12

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This got very close to the top of the wedge running all the way back to the top of Primary 1 in April/May 2010 so I've taken a small short:

SPXdaily19_09_13.png


dl.dropboxusercontent.com/u/20815047/FTS...SPXdaily19_09_13.png

Risky trade so stops are a must.

PS The trade is in dow futures markets but I used the SPX to determine entry.
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