Last week the S&p and the Dow went up to test the scene of the crime. The 50 day moving average(blue line). It was support for the first 5 months of the year. Now it is resistance. Twice last week the bulls could not break through it. There are open gaps at 1587 and 1622. The weekly Pivot is at 1588, and the July monthly pivot is very close to 1600. The astro guys are saying this week could be a very whippy where "no support or resistance level is safe". I feel we will see a test of the July monthly S1 pivot point at 1550 sometime this month. Watch 1550-1622 this week.
Monday, June 24, 2013
update 6-25: Mission accomplished as the Dow bounced off the Yearly R2 pivot on Monday. In fact it was the low of day on Monday. Sold my puts(1550) and bot some calls(1600) there).
Posted by Jeff York at 5:36 AM
Sunday, June 16, 2013
1600 is the line in the sand that most investors/traders are watching. Since 1600 was pinned last week does 1650 needs pinning this week? or 1700? or 1575? We will know Wednesday when the Fed meets. We also have a Bradley Model turn date coming up this weekend. be careful with new long positions.
Posted by Jeff York at 6:27 PM
Sunday, June 9, 2013
S&P last week went from the weekly Pivot(P) down to the weekly S2 pivot/yearly R2 pivot and bounced. Also there was an daily S1 pivot at 1598. The INDU/DJI did the same Wpp-Ws2 -wpp also.
Posted by Jeff York at 2:17 PM
Saturday, June 8, 2013
We got the pull back I had been looking for and it bounced at our target. How far will this bounce go is the question. I don't know the answer, maybe the Bradley Model does? The Bradley Model(below) shows a H&S topping pattern around June 22. It shows a very fast vertical rise after a pull back in early June. We just had a pullback to the YR2 pivot & open gap, right? If the Bradley Model is correct, the S&P could melt up to 1720(YR3)-1805(YR4) in the next few weeks (you want some of what I'm smoking :)) or we could go back down to 1600 for Quad opex on 6/21. March Quad Opex closed at 1550. The reason I choose 1720 is the SPX found support last week on the yearly R2 pivot, and the Yearly R3 pivot is at 1720(see above chart). It probably is a long shot. The largest open interest on June ES futures options is at 1550 & 1700.
The 2013 Bradley Model shows a major trend change in the next few weeks(within a week +/-). The current trend has been up for the past 6 months, since the Models last trend change date. That should mean the new trend will either be sideways or down into Oct/Nov.. The next Pluto-Uranus square is on November 1st.(last one was May 20). My guess is we will start a down trend in late June/July/August that will end in late Oct. early November per the model's 2013 siderograph. The dates on the bottom of the graph are not correct. The vertical lines are the 1st of the month.
Several other well know Financial Astrologers are saying that the highs this June will stand for a few years. They think we will see a 1-2 year bear market starting this August 2013.
Posted by Jeff York at 10:43 AM
Tuesday, June 4, 2013
the past 4+ years, NDX has been finding support on the monthly 20 moving average(yellow line) and has never gone below the yearly pivot point(P) for more than a few days. This years yearly R2 pivot is at 3186. Support is at the yearly pivot at 2616 or the 20 month ma at 2665, per the chart above.
Posted by Jeff York at 9:07 AM