Trade the Cycles

Wednesday, February 17, 2010

SPX Will Probably Fill the Upside Gap/Magnet at 1103.32

SPX (S & P 500, http://bit.ly/i0nsT) will probably fill the upside gap/magnet at 1103.32 (also watch 1075.51 downside gap from yesterday's open, 1097.28 got filled today) early tomorrow, then, based on the Elliott Wave count since 2-5-10 (up down up down up pattern), a large Short Term Wave 1 Upcycle since 2-5-10 may peak shortly thereafter, see the daily candlestick chart at http://bit.ly/i0nsT, and, see the 5 day intraday candlestick chart at http://bit.ly/3qGxf3.

SPX's intraday candlestick chart appears to be bullish/peaking, since SPX appears to be in a Wave 5 up move, see http://bit.ly/12SpXH .

The 5 day DJUSFN/WMT/XOM Lead Indicators are bullish/very bearish/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 1:18 PM

4 Comments:

  • The 5 day intraday SPX Wall of Worry (SPX vs VIX) is very bearish, see http://bit.ly/vryF4

    By Blogger Joe Ferrazzano, at 1:30 PM  

  • Market breadth closed positive, which is a bullish indication, see http://bit.ly/lPIyW

    By Blogger Joe Ferrazzano, at 2:10 PM  

  • Trading Roadmap: WATCH SPX's 1116.48 upside gap/magnet: 5 day chart http://bit.ly/3qGxf3

    By Blogger Joe Ferrazzano, at 1:06 PM  

  • 2-18-10: SPX's (S & P 500) big Short Term Wave 1 Upcycle since 2-5-10 appears to be peaking, see http://bit.ly/i0nsT

    By Blogger Joe Ferrazzano, at 1:07 PM  

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