Thursday, September 24, 2009
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
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
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+/-.
Weekly CITs: 9/21-25 wk, 10/2 wk, 10/30 wk, 12/25 wk, 4/2/2010 wk, 11/5/10 wk
1st support is at 815 and MOB channel support is at 691.
Monthly CITs: 10/09, 3/2011, 1/2012
Thursday, September 10, 2009
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
Wednesday, September 2, 2009
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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