Thursday, September 24, 2009

Cycles update

From my Sunday 9/20 Update: Ideally, we see some pullback into next week, before the rally resumes, with 1052-55 SPX as 1st support and 1033 SPX as Major support.

We have declined as expected.
1st Support is at 1040-45 SPX. Major support is at 1033-36 SPX area.

Detailed Cycles this past week were:

Forecast: 9/18H, 9/21L, 9/23H, 9/24L

Actual: 9/17H, 9/21L, 9/23H, 9/24L

I am looking for a possible Low around the 2.30 pm CIT or a last hour Low today. We should rally tomorrow and after.

Sunday, September 20, 2009

Market relentless rally continues

The September Month is seasonally normally the weakest month, but the market ignored this so far as we have been straight Up (SU) since the 9/2-3 Master Cycle (MC) Lows.

The trend every month since Jan 09 into August 09, was to expect a High or Low between the 6th and the 11th of each month. Not so this time, as we rallied beyond 9/11.

Even the Master Cycle (MC) was faded as the MC was looking for a 9/2 Low and a rally into 9/11-14 MC High. OE week rallied beyond this date into a 9/17 high.

Ideally, we see some pullback into next week, before the rally resumes, with 1052-55 SPX as 1st support and 1033 SPX as Major support.

Saturday, September 12, 2009

A quick look at the Golden Times

The Gold continuous daily chart closed right at TL resistance at 1006. It has not really broken out yet as we would first need to clear the 3/17/08 ATH at 1017.50 Resistance, but the daily, weekly and monthly trends remains up. We then have LT monthly resistance at 1028 and channel resistance at 1075-85. We closed right at TL resistance on 9/11, which suggests a pullback is due. First sign of trouble is any break below 951 and MOB support is at 796.

Daily CITs are: 9/17, 9/24-25*, 9/30, 10/2, 10/30 and 5/2/10. It also has an Apex CIT on 11/17+/-.

The Gold weekly chart has 1st resistance at 1017.50, then 1075 channel Resistance. We closed up + 9.70 at 1006.40 this past week. 1st support is at 939 and major TL support is at 829 and MOB support at 678.

Weekly CITs: 9/21-25 wk, 10/2 wk, 10/30 wk, 12/25 wk, 4/2/2010 wk, 11/5/10 wk

The Gold Monthly chart has Long term Resistance at 1028 and 1085 Channel Resistance. We need to break above 1085 for a real break-out to take place, The 49 Month cycle was the April 09 Low.

1st support is at 815 and MOB channel support is at 691.

Monthly CITs: 10/09, 3/2011, 1/2012

Thursday, September 10, 2009

New yearly highs

We got our new yearly highs in the NDX and SPX as the master Cycle (MC) expected.

We should still see higher highs into the next swing high.

All I can say is, I hope the Bears were careful to safeguard themselves.

This has been a relentless rally.

Tuesday, September 8, 2009

New Highs anyone?

The MC was looking for a 9/1 Low (actual 9/2L at 1st hour CIT) in the last update and for today 9/8, a Gap and Go SU Day today and a close near the Highs of the day, but there is an hourly CIT at 1.50-2.55 pm today to deal with first. On the 5 min, this arrives at 2.20 pm eastern. In general, the MC suggests a potential new yearly High is possible.

Wednesday, September 2, 2009

Review of the Master Cycle

In my 8/26 post, the Master Cycle (MC) was looking for an 8/25 swing High (1st chart).

Result: We did see an 8/25H with a retest on 8/27H, before we declined strongly into today's Low (2nd chart). The MC was looking for a decline into 9/1 Low.

The decline spilled over into this morning's Low. I had an hourly CIT in the 1st hour today, confirming a potential Low.

On the intraday trading Level, I had a 5 min CIT today at 10.35 am, which was the Low of the day (Sofar).

We need to rally above the 1000 Sep SP Resistance to get a 1st confirmation that the Lows are in, then 1005 and 1009.45 (38 and 50%) Sep SP

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