this is very hard...i will cover 1/2 my swings to lock profits before todays close. I'm short in swings and positions. It "seems" like monday should be up, but my charts say "dont cover shorts yet. stay short"
3:36
amazingly, my charts say DOWN from this lil bounce up....spx 1039 last
3:32
i thinks whats happening here...holding 1031 is going to imply a 1014/16 target instead of 1020.
3:28pm
we almost have a bearish engulfing candle pattern in spx, close enough.
3:27pm
adding 47.47 as another spxu target, in addition to others below.
3:12
charts say at least one more push lower, but dont say how much. last spx 1036
3:10 pm
i said we would break the low and make a new one...but this doesnt count yet... its only a marginal new low we just made
3:07 pm
NOW it hit my old 4709 target and stllaed exactly there in spxu. but my new targets are higher
3:06PM
obligated to sell 20% spxu scalp from .40 at .95 HOD....i must per my rule
2:57
if spx makes a lower high here, it will setup a bear diverg in 3min. looks like a bear diverg setting up into the close here. i think we will retest the low, and break it
2:43
charts suggest spxu retest of its high, then the higher target if high hurdled
2:41
3min spx has bull inv HS and bear desc triangle. mixed signals. take your pick. charts suggest downward bias, of the triangle. but there are some bullish hammer candles in spx. why do we have such conflicting signals? because spx is consolodating here, and these conflicts are typical.
2:27
The chop action has actually raised the spxu target to 47.27
2:22
This action here is what was expected in earlier post. Consolodate from the 15mins
2:20 pm
ES volume now at 2:20 pm has already exceeded total volume for ES from yesterday all day.. high volume red day thus far
1:53
spx 15min chart suggests possible 1048. not confirmed. and they suggest not straight up to 1048 but 1044,42,47, 43,48 kinda thing, if it happens. but 1041 is impt # to hurdle on spx first.. last 1039
1:51
watching for poss mini bull inv HS in spx...not formed, only possible, watching. last spx1039.
1:43
see if spx can get over 1041. that could give 1049
1:34pm
VIX SHOULD BE DROPPING HERE PER CHARTS AND IT IS NOT... thats bearish. if VIX hits over 33.25, then fireworks to downside (not expected today)
1:29
46.95/47.09 is spxu target on break over 46.57
1:27
as expected just 45minutes ago, vix quickly found 30 on the break of 2803.
1:22
scalpers would sell at .63 limit...i would hold longer of course lol...or sell a piece only
1:18pm
paper trade: spxu 46.12, stop 45.84 for now
1:03
spxu blasted right through my 46.24 target from 12:22...hit 46.67
1:00PM
I am seeing the very early stages of a 60min bullish divergence in spx. I fully expect this to cause a bounce up, probably to the upper trendline. The bounce can be rather large. However, even with this later bounce, the trend is down. Again, the divergence is not developed yet, suggesting either sideways action or lower spx from here. last spx 1039.
Furthermore, the 15min charts do NOT show a divergence but rather they support the move down, again suggesting either consolodation sideways or lower spx.
12:58
btw, when i say "signal", i mean a combination of many different indicators and chart patterns, not a single "signal"
12:57
There are so many channels, some wide, some narrow, on the 60min chart. this makes it challenging. IN fact spx could hit 1080 and still be bearish, though i don't expect that now. i do expect a bounce to test the upper channel lines, but have no signal for that now.
12:53
i know this is hard to believe..i know...but i NOW have a SWING SHORT signal..confirmed...at this low price...this could cause momentum shorts to enter here. last spx 1039.
12:52
my chart lines suggest 1031 next, which just so happens to be close to prior breakout supportt around 1030ish spx
12:47
the 133t chart was correct. spx backed down and has not made 1047.
12:45
if vix breaks 28.04 its headed for 30ish...last 27.77
12:39
the 133t is not supporting the 1min long move up to 1047
12:38
ok have the 1,2min long signal for 1047 target...i'm not scalping it. last spx 1044.
12:36
spx next targget down 1031. last 1043.
12:34
spx might not make over 1047. sellers waiting at 1047 until pierced higher
12:30
as predicted at 12:18, we made a new low just now :) spx LOD now 1041.88
12:22
spxu next target is 46.24. last is 45.19
12:18 pm
charts suggest that the low is not in today. last spx 1050.
12:17 pm
yesterday i suggested that we would not put in a higher high today, that 1066 would hold as R. It has.
12:16 PM
SPXU swing position is rocking. Up 5% in one day.
8:06
Yesterday I entered SPXU as a swing at 43.77. There is opportunity to exit here in pre-market trading around 43.80 right now, but I will remain in. If I were nervous about the trade, I would exit here, but my charts suggest higher spxu (lower spx).
7:30AM
All numbers in this 7:30 AM post are for ES, not spx. Last night the ES futures trading had a high of 1062.75 and low of 1055.75. Right now, ES is at 1057, and I expect it to test 1056, likely breaking it and heading for Bearish scenario below.
Key numbers are 1055, 1061, 1064 to determine direction. A break of any of those should cause further movement in the direction of the break, a hold of any of them will cause prices to move back in the opposite direction.
Right now, momentum is for lower ES, but it must break the 1055 to get further movement down. If 1055 holds, then Bullish scenario 2 takes place.
Bullish sceanario 1: ES breaks over 1060, and goes to 1062, 1064,1070, 1081
Bullish sceanario 2: ES declines to 1056, holds there, pivots up to break over 1060, and goes to 1062, 1064,1070, 1081
Resistance at 1064
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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