Short term - We need to watch to confirm a breakout of the local triangle we are in... Based on indicators and gann I think we hold this level and slowly stair step up follow the gann line on the 30 min gann chart...
Trading Advice/opinion - Since we are at this key level and could potential pullback to 1120 to 1125 i would watch the open tomorrow and if opens strong I would add a 20% entry long and add on pullbacks (if pullback happens). If opens a little weak I would wait and add at or under 1125... Long term I would add short positions on highs 1150+ in increments with a target of end of first quarter... GL
Daily SPX - shows target on top to be reach by jan 14th. Also watch the RSI to breakout of trendline to confirm this impulse move up.
Daily Gann shows target of 1175 on Jan 15th and 1200 around Feb 1st. 
60 min SPX - Shows the local triangle that we need to break out of... Should happen soon.. middle fork will come back into play soon.
60 min gann - shows target with when we will hit the targets... watch black dotted lines for these targets.
30 min gann - watch gann line I mentioned on the short term prediction... 
Posts
Loser great work. One thing of note. Charles Nenner who has been very accurate on his cycle calls says downturn to begin 1/7 which doesn't give us much time to get to 1200.
ReplyDeleteImrusmiley - Would you happen to have Charles Nenner's chart or a link to one of his charts? I think the key is breaking that RSI trendline.. we break that tomorrow it should confirm my thoughts.
ReplyDeletewww.charlesnenner.com is a website where you can simply here his commentary and predictions but there are no cyclical charts. There is a guy known as INLET whose pretty good at www.stockstop.org who has a cyclical chart up and he's been rather accurate lately. Seems as if most are predicting 1200 which may not happen. Oh one more resource is danericelliotwaves.blogspot.com and he charts EW.
ReplyDeleteGood luck to you with your new blog. I've read you with amazement for the past few months and excited to have you bookmarked now:)
sorry Loser that was danericselliotwaves.blogspot.com
ReplyDeleteNice blog L-II.
ReplyDelete-Souljester
Thanks Soul - I hope we all continue to pass information back and forth like on the message board... To me that is that fun part (learning).
ReplyDeleteI am still trying to figure out the best way to post the charts... Right now they don't look good on the blog page, but once you click on them you can see them just fine (may need to zoom in).
ReplyDeleteGary 1,000 not looking so far away. RSI looks to be at a low do you agree. Still thinking we rebound from here or is the correction to 1000 here?
ReplyDelete