Yesterday’s upward reversal gave the decline off 1378 the look of a three-wave correction, so unless it’s part of an expanded flat or similar, this pattern is suggestive of higher prices.
Interpreting this market with any confidence r…
Tag Archive for Bias
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: Market Ripe for at Least a One-Day Rally
by Pretzel Logic • • 1 Comment
Much as I’d like to give the bears something to be really excited about, yesterday’s action wasn’t terribly encouraging, and has left some questions about the decline from 1333-1300. Yesterday’s morning spike exceeded the 1320.06 high, and&n…
Charts and Trading, Professional Edition, Technical Trader
Tailwind for the New Year
by Lee Adler • • 0 Comments
Yesterday’s blastoff means that the bias remains to the upside, this morning’s little giveback notwithstanding.If the bears can’t stop it here, 2012 would have a tailwind for an up year, not because the economy is so great, but because central bank money printing would flow through paper assets.
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Intraday Cycles Point Down. No… Wait!
by Lee Adler • • 0 Comments
The nominal 2 day cycle on the SPX index ($SPX) is in a choppy down phase with a projection of 1210-1212 on the cash ($SPX). However, 5 day cycle indicators have yet to roll over on either $SPX or the SP futures. The futures are holding near the 5 day cycle centerline which is now…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX, NDX, and Dow Update: Who Wants to Fade Santa?
by Pretzel Logic • • 0 Comments
From a technical standpoint, nothing happened yesterday. The markets may as well have been closed. Lots of people are talking about the bullish “inverted hammer” candlestick (so named because it looks like a candlestick) on the da…
Professional Edition, Technical Trader
He’s Ba-a-a-ck, But So Are the Bulls
by Lee Adler • • 0 Comments
When we left off here last Wednesday I suggested that the massive thrust in the new short term buy signals in the screening data would mean that there would be enough residual momentum to keep the bias to the upside for at least a few weeks. Here’s an updated look at that idea.
Charts and Trading, Day Trading, Latest Business Headlines, Technical Analysis
Market Opening Outlook 11/29/11
by Lee Adler • • 0 Comments
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…
Latest Business Headlines
After The Bell 11/1/11
by Lee Adler • • 0 Comments
The 30 minute bar chart of the SPX futures illustrates that the 2 day cycle is in a sideways up phase (an up phase that doesn’t go up), and the 5 day cycle should be bottoming. That’s a perfect setup for an “anything can happen” reaction to Bernanke’s dog and pony show tomorrow afternoon, where…
Latest Business Headlines, Professional Edition
Immovable Object Wins Round One
by Lee Adler • • 0 Comments
Friday’s failure to penetrate trend resistance did nothing to clarify a cloudy technical picture. I’m inclined to think that the failure to break resistance is the overriding fact here, but screening data kept a bullish bias, Friday.
Latest Business Headlines, Professional Edition
What Will Ben Leave Us?
by Lee Adler • • 0 Comments
As long as Ben doesn’t drop a turd in the punchbowl, the bias should be sideways to up for at least another week. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I…
