Trade the Cycles

Monday, March 01, 2010

SPX (S & P 500) Put In What Appears To Be a Short Term Wave 4 Cycle Low Thursday 2-25

SPX (S & P 500) put in what appears to be a Short Term Wave 4 Cycle Low on Thursday 2-25-10, see http://bit.ly/i0nsT. A Monthly Upcycle began on 2-5-10, when a very large bullish inverse spike (2-25's was large/bullish) occurred on a white candle (close above the open).

Trading Roadmap: WATCH SPX's 1116.48 upside gap/magnet from 2-16's open (Monthly Upcycle since 2-5-10 might peak shortly after 1116.48 gets filled), see 5 day chart http://bit.ly/3qGxf3. There's also an upside gap at 1150.23, that might get filled in this or more likely the next Monthly Upcycle.

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

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posted by Joe Ferrazzano at 1:20 PM

4 Comments:

  • SPX volume was a very light 3.211 billion shares today 3-1 vs 60 day EMA at 3.882, which is a bearish indication for Tuesday 3-2-10, because, the big money didn't chase today's significant strength in a meaningful way.

    By Blogger Joe Ferrazzano, at 2:07 PM  

  • Trading Roadmap: Also WATCH SPX's 1104.49 downside gap/magnet from today 3-1's open; 5 day chart http://bit.ly/3qGxf3

    By Blogger Joe Ferrazzano, at 2:15 PM  

  • SPX's Williams’ %R closed at -0.70 today 3-1, very near an overbought extreme of 0.

    By Blogger Joe Ferrazzano, at 2:32 PM  

  • Trading Roadmap: WATCH SPX's 1115.71 downside gap/magnet from today 3-2's open, 5 day chart http://bit.ly/3qGxf3

    By Blogger Joe Ferrazzano, at 1:04 PM  

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