Sunday, September 7, 2014

Charts 09-07: Dull week ahead

If wave (i) was 40 points up from 1904, wave (v) would be looking for 2030 SPX here.  There is a larger top trendline that reaches 2030 maybe this Friday or next Monday.  

So, a week for picking up nickels before the steamroller parade.  Dullsville until FOMC gets a little closer. 

Daily Bollingers and the timing for an (eventual) dive to the 200 DMA SPX also make sense here.

The whole thing makes for a nice head & shoulders top, of much larger 3PDH patterns, all with a single, wonderful, violent conclusion.

And I still say the Fed bumps rates in January.

SPX 09-07

10 comments:

Bicycle said...

The Human Enterovirus D68 is the first candidate in a process that will eventually HALVE the future 16-19 year old noninstitutional population cohort

Bicycle said...
This comment has been removed by the author.
Bicycle said...

The health care system of the United States will be overwhelmed by Human Enterovirus D68 in October...

...and the mortality rate for influenza is currently finishing up a bull pennant that has been forming since 1960!!!!

Christian Gustafson said...

What's your read on this one, Bicycle?

Population of India ...

Bicycle said...

Boy that doesn't leave us much to work with, does it? It goes up in a straight line until it doesn't?

How about these instead?

India / U.S. Forex Rate, Bearish Rising Wedge

Bank Private Credit to GDP for India, Bearish Rising Wedge

Bicycle said...

As usual, the media coverage of Scotland independence is shallow.

Over at Bicycle's tumblr, however, we discuss the real reason why London is trembling about this. 25% of the UK's gas comes in from the North Sea through the St. Fergus terminal. If Scottish independence is allowed to go forward, Putin and Russia gain more control over London.

http://canyoupicturewhatwillbe.tumblr.com/post/96972487139/here-we-have-the-reason-why-scotland-independence

Bicycle said...

The DJIA has still not regained the wedge, the bulls are toast... and so is the United Kingdom...

Christian Gustafson said...

Is there a golf angle to this Scottish restlessness?

It can't have escaped the Administration's attention.

Where are the carriers?

Permabear Doomster said...

An alluring chart outlook CG. Wish I could believe in it.

The 2030s do look very likely next week, and an FOMC would make a good intraday reversal.

I think the Yellen is due to speak after the announcement, and as ever..there is a high threat of an intraday reversal.

The low 1700s by end year would really 'help'.

...I might short next week.... would be the first time in over a year.

Bicycle said...

Up to two million Liberians will die from Ebola or become international refugees because of the epidemic there:

Population for Liberia, Bearish Rising Wedge

Yes, it's going to get that bad.