Friday, January 16, 2015

Charts 01-16 a.m.: Quick update

That finally it for "4"?  We kept within the .382 range for this correction.

Just wanted to post a quick chart.  Outlook for Spring 2015 shifted a little but essentially the same.  Still looking for new highs and a touch of the top Bollinger Band before opening up an opportunity for true impulse waves lower, possibly much lower.

Yes, add a head & shoulders to the mix, with a neckline at the 200DMA at 1972 SPX.

SPX 01-16 a.m.

4 comments:

Christian Gustafson said...

Bicycle is on fire lately with useful datas and informations.

Please visit his blog, and report him to your neighbors!

Bicycle said...

I do hope that finished off 4. I was at the Museum of Science and Industry and the interesting stuff always happens when I'm away, so I'll have to make sure to plan a nice jaunt in the next few weeks to ensure we get my failed 5th.

I enabled the ability to ask questions on the tumblr, as well as the ability to submit your own content for review--just click the menu button at the upper left of the page. Yes, you too, Department of Homeland Security employees, can share your charts and wisdoms with us...

Bicycle said...

Haha, was anyone here smart enough to have played crude oil volatility having known about Steve's Brent/WTI triangle of doom?

If you were, you had probably noticed the huge volatility bullish falling wedge to go along with it. Good for you for being able to do so instead of guessing a price movement off the triangle!

I'm going to go weep in the corner now...

Bicycle said...

Gosh darnit. We should all be cashed out and headed for the gulch by now. We have to do better...