Here is the outlook:
Tuesday, March 13, 2012
03-14-2012 outlook
A week ago I told you I believed the Qtr Wall cycle had bottomed and we would see a drift up for about 2 weeks. The move up was much sharper than I thought and reached levels higher than I anticipated in such a short period. It now looks as if we may be reaching a top looking at the 25TD DPO (1400?). Tomorrow should give us a clearer picture. It could go somewhat higher as it is still 3-5 TDs to the time that the qtr Wall should top.
Here is the outlook:
GL traders. May buy more RWM if it breaks below $26.
Here is the outlook:
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I SEE THAT WE HAVE A NEW LEG UPWARD AS MARCH 13TH CLOSE SHOWED THAT WE ARE ON A CLEAR BULLISH UPTREND, AND THAT LAST WEEK WAS THE CORRECTION.
ReplyDeleteHi Inlet,
ReplyDeleteThis is OPEX week and sometimes odd behavior is seen.
The Keystone Speculator wrote yesterday that if the S&P got past 1380, then 1420 would be targeted. There were also posts on the SKF board suggesting a target of about 1405.
Seems to be the "boyz" want to tag at least 1400. Then I would think the market has to sell off some.
Doctrader - the 1400 call is based strictly a technical reading (DPO) of what I believe is the amplitude of the qtr Wall cycle. I am not married to that level, but I believe we turn by mid week next week and sell down for a couple of weeks.
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