Updated chart on 3-2-12 no change
Wednesday, February 29, 2012
Sunday, February 26, 2012
Tuesday, February 21, 2012
Wednesday, February 15, 2012
Today, the YM futures hit the yearly R1 pivot point today and sold off. I'm looking for a pullback to the 20 dma tomorrow. Let's see how that plays out. Tops are a process, not a 1 day event. I still think we will see the high for 2012 in March and then down hill the rest of the year(per the 2012 Bradley model). Today could be the left shoulder on a head and shoulders pattern, that could play out over the next month or two. The Yearly R1 Pivot point on the Dow Jones Index is 13,256. That is my target for March.
Also today, the NQ futures hit the yearly R2 pivot point and the monthly r2 pivot point. When you see a confluence of 2 different pivot points(yearly/monthly or weekly/daily) that are close like this, it usually is strong resistance(if price is moving up) or support(if price is moving down).
Posted by Jeff York at 1:01 PM
Friday, February 10, 2012
thestreet.com for use of this chart.
Barron's cover this weekend says "Dow 15,000 in 2 years....maybe even 17,000". On March 9th 2009 they said " the bull missed it's target". It looks like the bull did bounced off the target(bulls eye), because the S&P is up 100% since they ran that March 9th, 2009 cover.
this is from March 9th, 2009 cover
Posted by Jeff York at 8:15 AM