Menu Close

Market Opening Outlook 11/29/11

Running late this morning, so I will keep this short. You can see the support and resistance lines on the chart. Approaching the open, the S&P futures are sitting right on the 2 day cycle cetnerline. If that breaks, the bias for the day should be sideways to down. 2 day cycle oscillators have edged to the sell side from negative divergences, usually a bearish indication. The 5 day cycle oscillator is still rising but losing momentum. The 5 day cycle centerline now approaching 1186 is the key to that cycle. As long as the Spoos are above that the trend is still up.

Follow my real time intraday cycle updates with cycle price targets during the day at The Stool Pigeons Wire at Capitalstool.com.

Here’s a look at the Spoos 30 minute bar chart as of 9:28 AM NY time. Blue lines more or less represent the nominal 5 day cycle. Red lines more or less represent the nominal 2 day cycle. The first oscillator more or less represents the 5 day cycles. The 3 lower oscillators more or less represent the 2 day cycle. Cycles vary in length and are not the sole component of price action. Outside influences and random noise may have a significant impact at any time, often unpredictable. These charts and their interpretation are meant for educational, informational, and entertainment purposes only and are subject to the terms of use of this website.

S&P Futures Intraday Chart- Click to enlarge

The daily cycle charts are updated in the Wall Street Professional Edition market update every day. Get daily updates on the 4 week, 6-7 week, 13 week, and 6 month cycle projections along with regression channel and equal width channel support and resistance chart updates daily in the Wall Street Examiner Professional Edition Daily Market Update. Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here to become a member and get instant access to the current report and all past reports.

Gold is sitting right above the 5 day cycle centerline at 1713. As long as it stays above that, the cycle would still be in an up phase, but if it drops below, look for a pullback.

Intraday gold chart- click to enlarge

The technical outlook for gold and the Precious Metals stocks are updated each morning in the Wall Street Examiner Professional Edition Precious Metals Report. Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share