Monday, September 24, 2012

December ES @YR3

The S&P futues(Dec) has ran into resistance at the year R3 pivot point and the monthly R2 pivot point. I said last week look for a pullback. We are finally getting one in pre market today. Look for a pb to 1425-1430 this week.

the NDX also kissed the yearly R3 pivot point last week(see my tweet). All 3 indexes are at major resistance(yearly R pivots)!

DJIA YH4 and MR2

Last week the Camarilla yearly H4 pivot point and the monthly R2 pivot was resistance(sellers). I'm still looking for a pullback any day now. A pullback would be healthy and set us up for a Xmas rally.

Tuesday, September 18, 2012

long term Head and shoulders topping pattern

The S&P yearly chart shows a possible long term(12 yrs) head and shoulders topping pattern. In 2000 and 2007 the market topped out when it got a 1500 handle. The 2012 yearly R2 pivot point is at 1530. If the rally fails there and doesn't  make a new all time high, then look out below in 2013! Head and shoulders patterns are very powerful reversal patterns.

Monday, September 17, 2012

2012 Gold pivots

It looks like Gold's next resistance will be at 1888(YR1). Here are Gold's 2012's pivot points.

Sunday, September 16, 2012

INDU YH4/Mr2 pivots

Finally after 6 attempts the Dow broke thru the 13000(YR1 pivot point). Now we're kissing the yearly Camarilla yearly H4 pivot point and the monthly R2 pivot point. I'm looking for a pullback this week.

Dec ES kissing YR3

Quad Opex week. Dec ES kissing the the YR3 pivot point. I think we will see a pullback this week.

Sunday, September 9, 2012

Roll over week

The September index futures expire next week and we will see volume roll over to the December contract later this week.