Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Friday, January 20, 2017

SPX WEEKEND REVIEW

Enough with the sideways and boring price action! Time to make a move.
SPX has gone sideways for about 6 weeks. Since the market likes moving in sixes, the SPX is now ready to move up for 6weeks which I believe is the final leg of this bull market before the bear market starts after another 6 (12 or 18) weeks of sideways action as it forms a Topping Pattern. Given that it will be a major reversal point, it might take longer than 6weeks for the Topping Pattern play out. So the Topping Pattern might last 6, 12 or 18 weeks (multiples of 6). But I believe the bear market will start in mid April after the 6weeks of sideways action at the top (rather than 12 or 18weeks).
So expect a bull leg from January 23rd to March 3rd, followed by sideways action from March 6th to April 14th, then the start of the bear market from April 17th.

SPX-MONTHLY IV


SPX-MONTHLY III


SPX-MONTHLY II


SPX-MONTHLY I


SPX-WEEKLY IV


SPX-WEEKLY III


SPX-WEEKLY II


SPX-WEEKLY I


SPX-DAILY V


SPX-DAILY IV


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-120MIN


SPY-15MIN