Friday, April 19, 2013

April 2013 outlook - update 19th

As I Posted on April 10th ---- we were ready for a 7-8% correction, we got a lot less.  Looks like volatility has spiked so at some point we should get a down hard reaction.  Looks like we got a down hard day.  The amplitude and time length of the shorter cycles have increased.  Hard to say now whether they will be symmetrical or left or right translated. 

Ordinarily all the news would be about the markets (precious metals and stocks), but with the marathon bombings it takes the attention off the market action today.  Here is a visual:

apr 16 12:30 EST update:

Not a perfect H&S but worth of note (1:00 pm EDT):



Update Apr 19 - 11:19 am EDT

Shorter cycles appear to have definitely become left translated as would be expected if the trend changed...

Posted by at

6 comments:

  1. DoctraderApril 17, 2013 at 7:57 AM

    Inlet,

    Any predictions on where RWM will end up in the short term? I'm still holding some.

    Thanks!

    ReplyDelete
  2. InletApril 17, 2013 at 9:16 AM

    Short term trading target is 22.60-22.70. Around 23.00 or higher by end of next week. Expecting 23 TD top by Apr 29...

    ReplyDelete
  3. InletApril 17, 2013 at 9:24 AM

    S&P may be forming an H&S pattern

    ReplyDelete
  4. DoctraderApril 17, 2013 at 9:28 AM

    Thanks!

    There is that gap on the chart @ around 24. You don't think that is possible in the next couple weeks? I thought maybe they would try to cover that.

    ReplyDelete
  5. InletApril 17, 2013 at 9:48 AM

    I am not expecting that much upside that quickly, but it could happen. Definitely have seen a pick up in volatility last week plus.

    ReplyDelete
  6. InletApril 17, 2013 at 9:49 AM

    Was looking at calls and do not see any big upside in call premiums...

    ReplyDelete

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