Chart Update

My internal clock is still a little off thanks to my recent trip, so I've had time to go over some charts early this morning. All my daily indicators are still bullish since the buy signal in June, so I still have to post bullish charts that corroborate the bullish scenario playing out.

I'll start with a chart of my Swing Trend Indicator, which hasn't even had a 3/10 MA cross since this rally began. It remains on buy and is even increasing the slope of it's rise. I use this indicator, along with others, to help keep track of the EW count.

My daily Elliott Wave count - Bull trend with an upward bias

$SPX:TLT Weekly chart with bollinger bands. Bullish while above middle band, bearish below.

And finally, my take on oil. I'll be looking to initiate a short position near 105.

In addition to these charts, I will post an updated S/R Chart showing that we broke above the close resistance levels. Current resistance levels lie roughly 30-40 points higher than we are now.

So currently I am still bullish, but that can change at any time. If I see something that changes my view/stance, I'll be sure to post an update. Stay tuned.

Peace,

Jim

Back from vacation

Well folks, I'm back from vacation. My swing trend indicator is still long and is up 37.54% since it initiated it's buy signal in June. Not too shabby. Oil passed 100 this morning and is getting close to my target short range. I will probably intiate the first short at 105.00. Will update with charts and more commentary later.

Peace.

Jim

Update

Daily indicators are starting to turn bearish, but the swing trend indicator is still bullish. Nothing new yet, still long.

I will be on vacation for two weeks, but I'll try to update if the swing trend indicator turns bearish.