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Posts Tagged ‘SPX chart’

After the bell, Update

After the bell, Update

Courtesy of Michael Eckert at EW trends and charts

$SPX chart

Welcome to my nightmare, this is one of the most confusing one day charts I have looked at in quite a while. From afar, the larger counts look like a 4th wave, but the micro count is a REAL mess, almost like an on going "B", or "X" wave, the triangle I have labeled as a-b-c-d-e, breaks the first rule, wave "A", is a five count, we need a 3-3-3-3-3 count for the triangle to be valid.

A simple zig-zag is still possible, but wave "C" needs to be the largest for that count to work.

The other possibility is that we have had a top put in, I have seen numerous counts in the last 24 hours that have a five wave count completed, the micro-counts in them might be off, but at this point I am keeping that option on the table until the impulse count from 1037.63 is invalidated.

One other option, which I had a chart up of yesterday on my public list, is this whole rally counting out as an a-b-c-x-a-b-c, making wave b of B, of P2, an expanding triangle with the a of B ending at 979. This could really surprise the bears if we start heading down to make new lows, then quickly reverse in wave "C" up.

****

See Michael’s longer term chart (below) for the bigger picture:

Michael:  P stands for primary wave.  As soon as P2 ends, we will be in P3, down. P2 is the wave from 666 to the present, P1 was the wave from late ’07, till this year when it finished at 666.  Ilene, I am very-very bearish, as soon as this rally is over we will be testing the lows of the year, and even quite possibily breaking them, wave 3′s are the mother of all waves, very violent and swift.

 

 

 


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Sunday morning observations

Welcome to Michael Eckert!  Michael posts excellent charts plus accompanying analysis at his new site: EW trends and charts.  He combines Elliot Wave Theory with Classic TA.  For intra-day updates, click here). - Ilene

Sunday morning observations

Courtesy of Michael at EW trends and charts

Not sure if that is any better then Monday morning quarterbacking. I brought this one out of my vault of super-secret and private stash of charts that only Anchak has laid eyes on. This one came about from the both of us playing with different indicators and tweaking them to get the most out of them. The one that caught my eye this morning was the RSI, adjusted just right, it has been a good and reliable indicator for showing trend changes in the SPX, by following the changes of trends in itself. Unbelievable how over-bought it has gotten in the last month, and now showing a definite trend change to the down side. When you couple the RSI with the MACD, and the Histogram, things are starting to point to a change coming soon, if it has not already changed. The Histogram has been in a negative divergence for the last month, and has its first red shoot, breaking below zero last week, while at the same time the MACD has also turned to the downside and crossed over, peaking last week. The MACD, a lagging indicator (used together with the histogram it can be used as a leading indicator) also showing a change is taking place. I am not ready to officially call that the top, I will leave it to you to make your own decisions. I am just sharing my Sunday morning thoughts with you. Hope you are enjoying your week-end!!
PS.-I moved this chart to the public list if you are interested in following it :)

$SPX chart

[click on chart for larger picture]

Monday morning follow-up:

$SPX

[clicking on chart will take you to another page with a larger image of the chart about half-way down and a series of other charts by Michael]

 


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Why 880 in SPX is So Important

Why 880 in SPX is So Important

Courtesy of Corey at Afraid to Trade

I wanted to do a quick update and highlight the 60-minute SP500 intraday chart from the March lows to the June highs and overlay four Fibonacci grids over this move to uncover the hidden confluence zones.  Doing so allows us to see why the recent break beneath 880 is perhaps very significant.

SPX chart
(Click image for full-size graph)

Without getting too complex, I’ve drawn four Fibonacci Retracement grids from the March lows to the June 11th highs using the classic methods.

I’m using the standard 38.2%, 50.0%, and 61.8% retracements, but also adding the lesser-known 23.6% and 78.6% retracements as well.  I drew vertical lines to show where the grids originated.

The main point is that three of the four grids ‘converge’ at the 890 level (I’ve highlighted it).  Notice how this area provided very strong support (in fact, it helped create the current “Head and Shoulders” since May.

We have now officially broken this confluence level, as well as the Neckline on the Head and Shoulders formation – that’s clearly a bearish sign.

The next Fibonacci confluence comes in around 850 and the one below that overlaps at 820.

You can save and print this grid off as a reference for possible turning points (pausing zones for retracements) should we continue lower as expected.

Corey Rosenbloom, CMT
Afraid to Trade.com

 


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SPX Chart Updates

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An immense sensibility

Courtesy of Allan

Experience is never limited, and it is never complete; it is an immense sensibility, a kind of huge spider-web of the finest silken threads suspended in the chamber of consciousness, and catching every air-borne particle in its tissue.

Henry James

120-minute SPX chart
The 120-minute SPX chart above shows a clustering of Wave 5′s (various degrees), followed by a breakdown of the Up-Trend Regression Channels and a Blue Wave Sell Signal, all taking place since last’s Thursday’s close.
 

 

The above chart the SPX pans out to the Daily perspective and reveals a rounding top that is just barely holding onto an 11-day-old Blue Wave Buy Signal that did flip to Short on an Intraday basis today, before those mysterious institutional buy programs again propped up a weakening close.

Weekly chart, S&P
Finally, the above is a Weekly chart that is about as long in the tooth as it can be.

I want that Weekly trend regression channel broken to the downside and/or a Blue Wave Sell Signal before committing a total and immense sensibility to the Short side of this market.
 

 


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Zero Hedge

THe INTeRViEW...

Courtesy of ZeroHedge. View original post here.

Submitted by williambanzai7.

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Who knows what evil lurks in the minds of Un...

 

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What do you think would happen if someone dared to produce a movie about a plot to ass-asinate the Butt-tard in Chief?

 

 

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Misdirection: Instead of torture victims, we are now supposed to feel sorry for a hacked politically incorrect Hollywood studio...

...

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Chart School

Can you make a living trading Springs and UpThrusts?

Courtesy of Read the Ticker.

We tell the truth about trading springs and upthrusts, no holding back!

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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net Investing Quote...

..“The market always tells you what to do. It tells you: Get in. Get out. Move your stop. Close out. Stay neutral. Wait for a better chance. All these things the market is continually impressing upon you, and you must get into the frame of mind where you are in reality taking your orders from the action of the market itself — from the tape.”…

Richard D. Wyckoff
.."Markets are constantly in a state of unce...



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Phil's Favorites

Evolution of YouTube: Will it Supplant Mainstream TV, Vanish, Evolve, or Languish?

Courtesy of Mish.

What will become of YouTube?

It started from nowhere about 10 years ago as an idea with no revenue and no content, then pretty quickly lots of content coupled with a plethora of copyright infringement lawsuits.

Today, YouTube gets 300 million hours of watching every day. Top content producers have millions of followers and make millions of dollars.

But where to from here?

New Play Button

The New York Times tackles that question in a fascinating story YouTube’s Chief, Hitting a New ‘Play’ Button.

The article is about Susan Wojcicki, the chief executive of YouTube, how she got her start, and in turn how Google got its s...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Insider Scoop

#PreMarket Prep Guest List For The Week Of December 22, 2014

Courtesy of Benzinga.

Brian Kelly, Curtis Erickson and Jerremy Newsome will all be guests on this shortened week of Benzinga's #PreMarket Prep broadcast, sponsored by Nadex.

Be sure to tune in at 8:00 am EST Monday-Friday here to tune in to the exciting show.

Don’t miss our #FedForecast2015 event either!

You can learn more about that here.

Monday, December 22, 8:35 a.m.

Jonathan Corpina (...



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Digital Currencies

Chart o' the Day: Don't "Invest" in Stupid Sh*t

Joshua commented on the QZ article I posted a couple days ago and perfectly summarized the take-home message into an Investing Lesson. 

Chart o’ the Day: Don’t “Invest” in Stupid Sh*t

Courtesy of 

The chart above comes from Matt Phillips at Quartz and is a good reminder of why you shouldn’t invest in s...



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OpTrader

Swing trading portfolio - week of December 15th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Sabrient

Sector Detector: Energy sector rains on bulls' parade, but skies may clear soon

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of Scott Martindale of Sabrient Systems and Gradient Analytics

Stocks have needed a reason to take a breather and pull back in this long-standing ultra-bullish climate, with strong economic data and seasonality providing impressive tailwinds -- and plummeting oil prices certainly have given it to them. But this minor pullback was fully expected and indeed desirable for market health. The future remains bright for the U.S. economy and corporate profits despite the collapse in oil, and now the overbought technical condition has been relieved. While most sectors are gathering fundamental support and our sector rotation model remains bullish, the Energy sector looks fundamentally weak and continues to ran...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly.

Click here and sign in with your user name and password. 

 

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Option Review

SPX Call Spread Eyes Fresh Record Highs By Year End

Stocks got off to a rocky start on the first trading day in December, with the S&P 500 Index slipping just below 2050 on Monday. Based on one large bullish SPX options trade executed on Wednesday, however, such price action is not likely to break the trend of strong gains observed in the benchmark index since mid-October. It looks like one options market participant purchased 25,000 of the 31Dec’14 2105/2115 call spreads at a net premium of $2.70 each. The trade cost $6.75mm to put on, and represents the maximum potential loss on the position should the 2105 calls expire worthless at the end of December. The call spread could reap profits of as much as $7.30 per spread, or $18.25mm, in the event that the SPX ends the year above 2115. The index would need to rally 2.0% over the current level...



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Market Shadows

Official Moves in the Market Shadows' Virtual Portfolio

By Ilene 

I officially bought 250 shares of EZCH at $18.76 and sold 300 shares of IGT at $17.09 in Market Shadows' Virtual Portfolio yesterday (Fri. 11-21).

Click here for Thursday's post where I was thinking about buying EZCH. After further reading, I decided to add it to the virtual portfolio and to sell IGT and several other stocks, which we'll be saying goodbye to next week.

Notes

1. th...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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