Thursday, December 13, 2012

SPX 1405 by Friday?

Posting has been thin this week -- very busy lately with the holidays.  I did build a very solid -- and cheap! -- IKEA bunk bed for my daughters.  They love it, and with the additional space, they now have room for a very nice wooden desk that I found in the garbage on 15th in upper Ballard.  The desk was trashed, but I stripped and reconditioned it, and it is now a fine piece of furniture, and a good place for my girls to do their studies.

If A is in at 95 points, then a C wave, similar to A, would take us to 1500 if we find support at 1405.  A carefully controlled B-wave correction -- a thin little channel, no scary giant red candles -- could do that for us by Friday close.

A final top @1500 is then possible with exciting news from the solons in Washington D.C. over the weekend, plus some short-covering, plus the holiday low-volume HFT march up up up.

I remain fascinated with the idea of a 2007-2009 replay in the markets for the coming months.  I'll do my homework on this and post the analysis tonight or tomorrow.

SPX 12-13 a.m.

The 1Y chart gives a better idea of what a blow-off top into EOY 2012 would look like.  You can also see the inverse head & shoulders from SPX 1343.


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