Dominant TF: 60mins & Daily
Swings: UP-DN-DN (from DN-UP-DN)
Cycles: upturn but low significance level
Market Direction: probably lower but difficult to determine
Position:
Short: hang on
Flat: be patient
Long: risky
(sorry for this delayed posting)
60mins: congestion to possibly lower
Retracement has about reached its target around 144, so could bounce a bit at this level. However, the bias is certainly down still (MTFS + Entropy).
The Swing indicator is usually very early, and maybe too early. One should be cautious and definitely wait for some confirmation of recovery.
Daily: a bit of patience is required
MTFS is fairly undetermined (with a slight lower bias though). One should be careful is 143.75 is broken
Weekly:
Despite the low significance level, one must be careful as we have a triangle pattern with a possible breakout coming either way.
Thursday, January 03, 2008
Market Outlook SPY for Jan 3rd '08
Wednesday, January 02, 2008
Market Outlook RUT for Jan 2nd '08
Dominant TF: 60mins & Daily
Swings: DN-DN-DN
Cycles: opposite cycles
Market Direction: probably lower
If not currently in the market, it would be cautious to stay a little longer on the sideline.
Regular daily snapshots will resume tomorrow
Market Outlook SPY for Jan 2nd '08
Dominant TF: 60mins & Daily
Swings: DN-UP-DN
Cycles: opposite cycles
Market Direction: probably lower but difficult to determine
If not currently in the market, it would be cautious to stay a little longer on the sideline.
Regular daily snapshots will resume tomorrow
Market Outlook NDX for Jan 2nd '08
Dominant TF: 60mins & also Daily
Swings: DN-DN-UP
Cycles: long cycle turning down - low to average significance level
Market Direction: upper half of trading range [2000 - 2125 ] congestion possible but lower bias is likely at first
Happy New Year to all!!
I'm sure you haven't missed my snapshots over the festive season, as the market was quite easy to read. We have seen mostly red bars on the dominant 60mins time frame, until NDX reached Fib PR1. Now what's next? We have closed 2007 on a soft landing on a predictable level, but new energy is needed now to determine a direction.
Regular daily snapshots will resume tomorrow
Saturday, December 29, 2007
Tuesday, December 25, 2007
Market Outlook SPY for Dec 26th '07
Pause between current level and 150.
Overall situation unchanged: if 150 holds, interesting pattern to develop over the next week, leading to possible breakout situation.
Market Outlook NDX for Dec 26th '07
NDX should pause somewhere around current level (could maybe go a little higher and hit 2140).
Overall situation is largely unchanged: trading range with upper bias.
Saturday, December 22, 2007
Market Outlook RUT for Dec 24th '07
Similar situation as for SPY.
Short term recovery pattern may be close to completed.
Market Outlook SPY for Dec 24th '07
May retrace up to PR2, maybe crawl to 150.
Daily time frame scenario: same trading range.
If recovery is stopped around 149.50 to 150, we will watch for an interesting pattern with higher lows and lower highs.
