Tuesday, March 23, 2010

Buy buy buy!

Last Fridays sell signal was negated today when the Dow made new highs for the month. The 2010 Bradley model called for a new trend after 4 months of consolidation last Nov. 9th, thru March 1st.
We are going a lot higher in the coming months. My first target is Dow 11300 then 11800 in the next 5 months. S&P going to 1250-1275. Buy ALL dips to the 8 or 20 dma.

Bradley models ROCKS!

Sunday, March 21, 2010

Dow Jones sell signal

Last Fridays big gap up open, on the monthly R2 pivot(green line marked R2), with a close deep in the red, is giving a belt hold sell signal, on the Dow Jones. The YM futures chart below, also is showing strong resistance was tested last Friday, at the MR2 pivot and the June contracts Yearly R1 pivot. Most likely, that will be the high for March 2010, and maybe much longer. A close below the 8 day moving average at 10600 will be my confirmation, and a close above Fridays high will negate the sell signal. Make sure you have stops in place on long positions. This week(3/22), look for resistance at 10850 and support at 10450, on the Dow.
click on the charts for a bigger view

Monday, March 15, 2010

this week is triple witching/Quad expiration

The S&P and Dow has not closed above the January highs. This week will be choppy with Quad ex on Friday. The Nazz is leading the way with new highs, will the S&P and Dow follow soon?
Or will a major pb start?

S&P res=1260, supp=1240
Dow res 10700, supp= 10500

Citi up 30%

Citi is 30% from my December buy signal. Look for a pb to $3.75.

Crude oil hns

Crude oil is still making a head and shoulders(hns) topping pattern.

Euro looks good

Euro rounding bottom pattern playing out. 1.4000=res and 1.3700=sup

Sunday, March 7, 2010

Monthly R1 pivots

I'm writing this from 35,000 feet as I'm flying back to Florida. Last week I was looking for the monthly R1 pivots to hit Mr1 by Friday, and we hit them and then some. Also many weekly R1 pivots where hit. The new trend is starting to look "up", but I need more solid confirmation. I would like to see the January highs taken out, as better confirmation. We have triple witching/quad expiration coming up in a week and a half, which could bring new highs for the year.

This weeks support and resistance
S&P look for support at 1115 and resistance at 1145-1160.
Gold look for support at 1120 and resistance t 1155
Euro is making a nice rounded bottoming pattern on Demarks yearly low pivot.....support 1.3600 and resistance at 1.3700 to 1.3800
Crude oil still going up...look for support at $80 and resistance at 83.50-84.50

Wednesday, March 3, 2010

Natgas testing support

April Natgas futures is testing the Yearly S1 pivot(purple line S1) and the weekly S1 pivot(white line S1). Possible inverted head and shoulders, could take it back up to $4.84-$4.94, if $4.65 holds.

Monday, March 1, 2010

March monthly pivots

Here are the March monthly pivots.

Dow Jones: Mr1=10575, Ms1=9540
S&P 500: Mr1=1132, Ms1=1060
NDX: Mr1=1862, Ms1=1745
Gold: Mr1=$1152, Ms1=$1065
Crude oil: Mr1=$83.66, Ms1=$72
U.S. dollar Mr1=$81.68, Ms1=$79.08

I think we go up to Mr1 by this Friday.