This is Opex week. The question is will the S&P 500 pin 1500 or 1450? The monthly R2 pivot is at 1475, which we are just a few points away from. Some very smart and rich peeps(Kass and Demark) are saying we are very close to a market top.The Bradley Model says this rally should continue this week. Next turn date is 1/20/2013( +/- of 1 week). There is no sell signal as of Sunday night as I write this. Buying the intraday dips last week on VPOC's or Daily pivots(dp) was the trade. I expect it to be the same for this week as long as the daily 10 moving average holds.
NDX is close to a long(1 year) head & shoulders pattern at 2800. HNS patterns are the most powerful reversal patterns in trading....IMO. I'll be looking for a sell signal up there.
The EUR/USD is very close to the 500dma at 1.3366 and Monthly R1 is at 1.3377. I'll be looking for a sell signal there this week.
USD/JPY is very close to the yearly R1 pivot and the monthly R2 pivot at 90.32=Major resistance!
Corn and Wheat are giving buy signals.
Crude oil is battling it out at the yearly Pivot(P) and the Monthly R1 pivots at $94.
Natty on a buy signal off the Yearly Camarilla L3 pivot point($3.08). Natty will prolly trade between $2.94(YS1) and $5(YR2) this year.
Apple needs to hold $505 or next support below is the Monthly S1 pivot at $490.89, The 500dma is at $473.00.
USD/JPY is very close to the yearly R1 pivot and the monthly R2 pivot at 90.32=Major resistance!
Corn and Wheat are giving buy signals.
Crude oil is battling it out at the yearly Pivot(P) and the Monthly R1 pivots at $94.
Natty on a buy signal off the Yearly Camarilla L3 pivot point($3.08). Natty will prolly trade between $2.94(YS1) and $5(YR2) this year.
Apple needs to hold $505 or next support below is the Monthly S1 pivot at $490.89, The 500dma is at $473.00.
