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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Tuesday, January 8, 2013

Market is still bullish

I always base my EW counts off a certain set of indicators including the most valuable to my counts, my Swing Trend Indicator. It gave a caution sell signal, but remained bullish throughout. The caution sell provided us with an uptrend line identifying when the uptrend should end unless the move is going to become a full-blown bull move - as it has in the past.


The indicator is coming up to an important resistance line and the uptrend line on the lower indicator says this bull move has to end by Friday or it will most likely turn into a full bull trend.

Next we'll drop down to the other daily charts with indicators. The latest down move gave us trendlines that should show us when the uptrend ends (once the indicators cross below these lines)

SP-500 MACD


SP-500 RSI Had another bullish CIT recently


SP-500 Stoch RSI - Still in bull zone



The next hourly chart shows we were due for a pullback solely based on the ADX. If the 23.6 retrace was the extent of the pullback, which I believe it was today, then the pullback is MOST LIKELY a B wave.



This risk chart isn't making me overly confident in being long, but the markets don't always sync.


1 comment:

  1. It's okay bro I usually cant make any sense of swallows sharts either.

    ReplyDelete