Market Direction INDU SPX OEX NDX RUT

[gg12]

Breakout was down!

 

[gg12]

also see...

 

[gg12]

Good systems for the recent downmove have been:

Stop 1 Trailing Stop 1 (at the 15 point grid)

and

Stop 2 Trailing Stop 2 (at the 15 point grid)

 

[gg12]

Very nice uprun in just 2 days i.e. in the SPX index.

Long signal after gap at ca. 1438
TS currently at 1454
Reentry signal at 1456 (once TS has been hit)

The graphics attached shows the SPX + SPY.

 

[Landis82]

The "double-zigzag" Wave 4 correction that started back in late November, ended on Monday of this week.

Wave 5 in progress with SPX minimum targets of 1478 / 1491 over the next 4 to 6 weeks.

Initial resistance for today is at 1458.30, with additional resistance levels at 1463.20 / 1466.95 should the market penetrate the 1460.45 level.

(see chart below)

 

[gg12]

INDU, SPX, NDX and RUT are now pointing up. Time frame is 10 days. I used following grids:

INDU 15 (sounds strange...)
SPX 2
NDX 5
RUT2

Length of the last up-move:

INDU 15 units
SPX 12 units
NDX 9 units
RUT 7 units

Market 'vote' is positive.

Any opinions from your side?

 

[gg12]

Market direction is clearly up. I used a 3 month time frame and a .25% grid

-> only take long trades the next days?

 

[murray t turtle]

Quote from gg12:

INDU, SPX, NDX and RUT are now pointing up. Time frame is 10 days. I used following grids:

INDU 15 (sounds strange...)
SPX 2
NDX 5
RUT2

Length of the last up-move:

INDU 15 units
SPX 12 units
NDX 9 units
RUT 7 units

Market 'vote' is positive.

Any opinions from your side?

=================
GG12;
Looks like pretty good uptrends includingSPX- SPY/ES, by most measures.

Residental housing stocks, some anyway, are below 50day moving average, down last 12 months;
down year to date. Some local real estate markets maybe up.

NasdaQQQ made a lower high & lower close;
but still uptrending above 50dma/medium trend.

 

[hellrider]

this bull run is nearly over.
1 sign is the impending ipo of timberhill and the launch of fox so called business friendly channel.
the secular megabear trend continues.

 

[gg12]

murray
hellrider

I see only uptrends on the bigger charts!

Attached the 4y view. You see a comparision of INDU, SPX, NDX and RUT.

Also applies to NDX, Qs, etc...

Ranking

#1 RUT >30% since last significant low
#2 NDX >30% since last significant low
#3 SPX >20% since last significant low
#4 INDU >20% since last significant low