The prior week traded in a very narrow range over the 4 trading days. It was down going in to Friday and turned positive for the week on very poor employment news. The theory seems to be slack employment will restrain the FED when it comes to raising interest rates. Still QE3 is set to wind down by October. Going to be interesting to see if the market actually reacts to this slow down in printing dollars. If so we should see reaction starting soon. Russell 2000 was little changed.
Appears market will continue sideways with a spike up during the week of 10-15 SPX points to set a top around 2020. By the end of the week probably not much change.
Here is a visual:
GL traders
Update Sep 9:
Looks like RWM forming inverted H&S pattern:
VTL (Valid Trend lines)
http://sentienttrader.com/hurst-trading-room/blog/peak/
GL
It seems like you have shift the cycle - now all cycles bottom at early aug, instead of late sep.
ReplyDeleteI try and adjust when the data suggests an adjustment. I do not try and force charts to fit s preconceived outcome. Cycle lengths tend to vary. Some suggest this time variance is based on FIB sequences. For this reason I try and introduce others interpretation of data (like Hurst) to give you as good information as I can find.
DeleteGann tables:
ReplyDeletehttp://www.safehaven.com/article/35052/ganns-financial-table-still-working
Is APPL and Ali Baba sucking oxygen out of the market?
ReplyDeleteRWM position starting to move for me.
ReplyDelete