Sunday, January 5, 2014

Charts 01-03: Big week ahead

This weekend the Burke Museum had their annual Archaeology Day; the girls and I were 2nd in the door for this one.  They had a guy demonstrating how to make clovis points and other stone tools out of obsidian, which can be found in our Cascades volcanoes.

Creating stone tools with ... stone tools

We got some pho and hit our usual bookstore, Magus Books, good shop.

Out before sunrise for a long walk on a chilly Sunday morning, here are some boats in the Shilshole Bay Marina.  The tide was high, and the Puget Sound water was very clear.

Shilshole Bay Marina

A statue of Leif Ericson stands guard over the boats.

Leif Ericson

This apartment block is almost finished in Ballard.  It's funny that they had to wrap it around this shitty gas station.  The only good thing that can be said for it is that it appears to use real plywood instead of the usual chipboard garbage.

Market St & 24th Ave

One block north, they have just got the hole in for this beauty.  I'm sure it's needed, yes, of course.

Moar apartments now, moar!

The Olympics were out in the crisp air.

Olympic mountains over Olympic Manor 

It looks like a set of townhouses are replacing the old Crown Hill Lutheran Church on 15th Ave.

Moar townhouses!

Here's the old church last year before it was demolished.

Crown Hill Lutheran Church, R.I.P.

This week is important in the markets because we still do not know if the January 1 Bradley turn date did indeed mark a top and a turn, much less the top.  We need some follow-up and confirmation.  We need some carnage on the indexes before op-ex, to get us down in the 1720s on the SPX before a big bounce.

SPX 01-03

It's still very early, but we need some big red candles soon.

2 comments:

Christian Gustafson said...

If this can't get any downward momentum this morning, then it's just another small retrace, with another high ahead. To mark our top, we may need another 30+ pt intraday reversal candle like the one we had in 2007.

Christian Gustafson said...

Current tape looks like a minor wave 4 finding support here at 1830 SPX.