Friday, September 26, 2014

Charts 09-26 a.m.: Channel nip-n-tuck

I have us in (ii) of 3 this morning.  If we can stay within the channel, it can take us to the 200 DMA SPX in time for the October Full Moon.

Looking forward to my hiking trip this weekend.  Plan is to sleep in a simple bivy sack at about 7000' on top of Devil's Dome in the North Cascades.  Fall comes quickly at this latitude -- we've lost over 90 minutes of daylight over the past month -- so you need to travel light and fast to make your miles (~45 this weekend) this time of year.  I'll post some photos Sunday night while checking in on the /ES futures.

SPX 09-26 a.m.

2 comments:

Christian Gustafson said...

Closed it right on the boundary of my channel.

We gap on Monday.

If it's up, the Bears get dragged through the dirt for another high.

If it's down, we could visit 1930.

Permabear Doomster said...

I agree on the count, its certainly valid, I won't get antsy on a few points over any channel etc.
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What is clear, bulls need those 1950/40s in the first half of next week.

In theory, if the style of the count is right, we should see a strong -35/45pt daily decline...arguably... Monday.

*I'm short from Friday afternoon, first index-short since summer 2013...so, its a major trade for me.
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Either I'm becoming the ultimate contrarian indicator, or next week is going to be rather good for me..

Have a good weekend!