Friday, March 16, 2012

03-16-2012 observations

We broke above 1400 target.  Seems though the market is losing upside momentum.  The DOW has been up 7 (or is it 8) days in a row and runs like this are rare and overdue a rest.  I suspect we could see 1408-1410 as a top.

In looking at the charts is see once we reach this juncture of cycles though the market tends to go flat for 4-5 days.  Here is the SPX showing this:

GL traders


  1. i am tied to the railroad track, cats and all, i just dare them. the end of qtr might get me so be it.

    good luck. faber says negative for the next 2 months. one of these days he will be correct along with mr demark top calling since dec.

    1. Jennasue - Hope I have not been too strident in calling for a top. Just seems we are getting a replay of 2011 here. Still I see that q1 2012 earnings may be down YOY from q1 2011 earnings. Not sure how we continue up without earnings to provide the gas.

      For sure, any pullbacks so far have been minor - so we are due a more substantial pullback.

  2. Hi Inlet, I have a cycle chart of the S&P that I created which I'd like you to take a look at but I don't know how to upload it on the blog comments section. Can I email it to you (if so what's your address)?



  3. Victory - couple of ways we can handle this. You could upload to a site like and provide a URL link. This gives you the most control. I believe Google also has a site for images.

    Or, email it to me at, hope I check my Email, and move it ;)

    Looking forward to your contribution.