Market Update: October 9th, 2014 – Forest from the Trees

by | Oct 9, 2014

Focus on key support and resistance and the rest will take care of itself. One chart stood out to me on Wednesday's early weakness and that was the DJIA which perfectly tagged its rising ending diagonal trendline and reversed higher impulsively (tweeted in realtime). Until this trendline is broken convincingly to the downside the trend remains your […]

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Weekend Update: October 6th, 2014 – Bears Fumble, Bulls Recover

by | Oct 6, 2014

Last Thursday, the SPX finally achieved my initial downside measured target of 1930 (actual low 1926) then reversed and rallied impulsively. There is a reason I study multiple timeframes and markets... to ensure we can see the forest from the trees! All of the US equity indices I follow reversed higher from KEY SUPPORT. We […]

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Market Update: October 1st, 2014 – Time for Bears to Step Up

by | Oct 1, 2014

So far so good. On Monday morning I tweeted an SPX chart with the comment, "Today's gap down into new lows "looks" like a b wave of expanded flat. May have another bounce to 1987 area" and on Tuesday we rallied up to 1985.17 (close enough). It wasn't an expanded flat but that's not the point, […]

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