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
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3 comments:

  1. christiangustafsonSeptember 7, 2014 at 9:20 PM

    What's your read on this one, Bicycle?

    Population of India ...

    ReplyDelete
  2. christiangustafsonSeptember 8, 2014 at 8:54 AM

    Is there a golf angle to this Scottish restlessness?

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

    Where are the carriers?

    ReplyDelete
  3. Trading SunsetSeptember 8, 2014 at 8:08 PM

    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.

    ReplyDelete

Always enjoy good conversation and exchange of ideas.