Monday, April 30, 2012

Apple 50 day / MPP next support

Looking for support today on the Monthly pivot point at $579(green line marked P) and the 50 day moving(powder blue line) at $580.

Friday, April 27, 2012

Watching 13300 Yearly R1 Pivot

The rally stopped at the yearly R1 pivot point in March and again in early April and again on Friday. The more times YR1 gets tested, the weaker it gets.

Thursday, April 26, 2012

Natty monthly S1

Natgas futures found support on the Monthly S1 pivot point. It could go from S1 to the P(pivot).

Monday, April 23, 2012

Gold Mpp to Ms1

June gold futures are testing the monthly S1 pivot point this a.m.. The high this month was the monthly Pivot. Also possible double bottom on MS1. If Ms1 breaks then look for support on Demarks monthly low pivot at $1600.

S&P bear flag pattern

As long as the S&P is below the 20 day(1392), I will remain bearish. Looks like the S&P could test 1350(open gap) and possibly the 1339 Camarilla Yearly H3 pivot point and March lows. Remember, the Camarilla Yearly H4 pivot point was the high this year. A H4 pivot to H3 pivot move makes sense to me. I still believe the highs for 2012 are in and we will see the low for the year in mid December.

Thursday, April 19, 2012

Apple update

Looks like Apple will fill the open gap at $568 and the 50 day moving average is there. Thats the next support level. Below that is the Monthly S1 pivot point at $538.

Monday, April 16, 2012

Apple monthly pivot points

The Apple rally came to a end at the Monthly R1 pivot point. Now look for support on the monthly pp at $579 or the 50 day at $560.

S&P 1340 line in the sand

It's opex week and we should see big moves up and down going into Friday's expiration. Last week the S&P went from the monthly S1 pivot point to the monthly pivot point. Pivot power! As long as the S&P stays below the 20 day moving average at 1400(1398), I will remain bearish. We should pin 1350(1353 gap) and even possibly pin 1400 this week. But the line in the sand will be the March lows at 1340(1343 gap). Support below that line is 1280-1310. A 10% correction would bring the S&P down to 1278. On the chart above, there is a lot of support down there(monthly S3 pivot, 200 day and weekly 50). I still feel that the high for this year is in, and we should see the low of the year in mid December, per the 2012 Bradley Model.

Tuesday, April 10, 2012

12700-12750 support?

Next support/demand zone is 12700-12750. On april 4th I wrote I was looking for a 500-1000 point drop. We are now down 500 points from the top. Now we need to consolidate and let the moving averages turn down and catch up.

Thursday, April 5, 2012

Happy Easter traders

NYSE specialists dressed up as Easter bunnies = P r i c e l e s s

Tuesday, April 3, 2012

HNS top on YM

I have been writing for the past 3 months, that I was looking for a market top around March 16th , at Yearly R1 pivot point. Thats exactly what happened(see chart above). We now have a head and shoulders topping pattern at the Yearly R1 pivot point on the Dow Jones. I'm looking for a 500-1000 point drop or more. We should see the lows of the Year around Dec 22, 2012. Head and shoulder patterns are the most powerful reversal patterns and there very fast mover's. If we take out the March lows, look out below.