Trade the Cycles

Friday, February 12, 2010

SPX Probably Fills Upside Gap/Magnet At 1078.47 First

SPX (S & P 500, http://bit.ly/i0nsT) will probably fill the upside gap/magnet at 1078.47 first (from today's open), then, will probably fill the 1056.74 downside gap/magnet from 2-9's open, see the 5 day intraday candlestick chart at http://bit.ly/3qGxf3.

SPX's intraday candlestick chart is bullish, since SPX is/appears to be in Wave 5 up of the intraday bounce since very early in the session, see http://bit.ly/12SpXH .

The 5 day DJUSFN/WMT/XOM Lead Indicators are very bearish, see http://bit.ly/90I4Mz.

The intraday SPX Wall of Worry (SPX vs VIX) closed very bearish, see http://bit.ly/UTZwc.

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Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.



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posted by Joe Ferrazzano at 1:58 PM

7 Comments:

  • SPX probably put in a Monthly Cycle Low Friday 2-5/very bullish candle, see http://bit.ly/i0nsT

    By Blogger Joe Ferrazzano, at 2:10 PM  

  • Market breadth closed mixed; which is a bearish indication; see http://bit.ly/lPIyW

    By Blogger Joe Ferrazzano, at 2:10 PM  

  • US Securities exchanges are closed February 15 for President’s Day

    By Blogger Joe Ferrazzano, at 2:11 PM  

  • Overhauling Medicare dramatically HAS to be part of healthcare reform, and, Obama hasn't even touched the subject.

    By Blogger Joe Ferrazzano, at 2:11 PM  

  • Government is not the solution to our problem; government is the problem.” Ronald Reagan

    By Blogger Joe Ferrazzano, at 2:11 PM  

  • Exxon Mobil/XOM, by far most heavily weighted SPX component (3.11%) has bearish breakaway gap & an ugly chart see http://bit.ly/6Dr79y

    By Blogger Joe Ferrazzano, at 9:32 PM  

  • Middle class taxes are going to RISE. Congress is not renewing Bush Tax Cuts & tax rates will therefore increase when cuts come to an end.

    By Blogger Joe Ferrazzano, at 9:10 AM  

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