by Chart School - August 29th, 2009 9:41 pm
New charts from Allan, who seems to be predicting an end to the rally’s coming soon. Here’s why. – Ilene
Courtesy of Allan
SPX- Monthly
On the Monthly chart, with one day left in August, 1029.80 still prevents the ATR system from flipping positive. Blue Wave is four months into it’s Buy Signal and won’t flip Short until the 830′s.
SPX – Weekly
On the Weekly analysis, we still see a triple divergence on the False Bar Stochastic as well as a stubborn wave count and pattern from Advanced GET warning of new lows to come. I’ve drawn a trend line that is walking up with price and is sitting right now at about 963, almost exactly where both Blue Wave and ATR will flip Short. Take note.
SPX – Daily
A close up Daily chart further clarifies and provides new REVERSAL levels, basis Daily closing prices:
Blue Wave Daily flips SHORT @ 1010.87
ATR Daily flips SHORT @ 1000.71
INTRA-DAY CHARTS
SPX – 90 minute

The
90 minute chart shows an
Elliott Oscillator on the bottom, highlighting a significant divergence between the oscillator and the recent new
…

Tags: $SPX charts, Crawford, daily charts, Equities, market downturn, Neely, Prechter, reversal levels, Stock Market
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by Chart School - August 17th, 2009 7:28 pm
Courtesy of Jesse’s Café Américain
So far this is merely a pullback from a consolidation, and a likely distribution top in the making as insiders continue to take profits on their ponzi pump in US equities.
We signalled ‘defensive’ last week, and that the risk reward in the market was dangerous, and we exited or hedged all longs. Time to Get Defensive
Now we wait to see if this is just a pullback from a consolidation, with a subsequent rally to new highs, or a break in the market slightly ahead of our forecast target. We have been looking for a 3% pullback first, and then a rally to the final high for the year.
The obvious level to watch is the neckline.
Bear in mind that these 100 million dollar men on Wall Street make their pay by taking investors, and the economy, for rides up and down in stocks, commodities, and just about any other market they can push using the leverage of their taxpayer supported funds.

The SP Weekly Chart show that a rally back to 1014 on the cash market represents an approximate 38.2% rally from the bottom. This number is one of the key fibonacci numbers watched by traders. The next stop higher would be 50%.

[click on charts for larger views]
Tags: $SPX charts
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