03/05/2016 Weekend Update

[uempel]

As to MA 191 I'd like to add:

The difference between MA 191 and MA 200 is minimal. But those who wait for MA 200 might (might) be left out. Chart shows MA 200 in green. MA 200 was at SPX 2023 on Friday. Of course this is highly speculative talk and I'm posting this only to explain why I prefer the less crowded MA 191 over the very popular MA 200.

[BullBear52x]

$SPX Rising wedge over shoot. relief rally pull back is at hand.

My focus for this coming week will be more toward UUP/dollar and commodity inflation side of thing. weakening in dollar is good simple sign for century to gauge inflation why will this time be any different right?

DBA bottoming construction seems to be in place.

[BullBear52x]

Intraday simple clockwork chart posted Friday.

SPY H&S maybe???? but these are intraday chart so I use it for day trade only.

[uempel]

BullBear52x, I don't quite agree with your rising wedge. On the 5 min it looks as though SPX broke out to the upside, right? This doesn't mean I'm very bullish, but this wedge ain't going to rescue the bears - unless the breakout is a trap

$SPX Rising wedge over shoot. relief rally pull back is at hand.

The attachment 1.PNG is no longer available

My focus for this coming week will be more toward UUP/dollar and commodity inflation side of thing. weakening in dollar is good simple sign for century to gauge inflation why will this time be any different right?

The attachment 4.PNG is no longer available

DBA bottoming construction seems to be in place.

The attachment 5.PNG is no longer available

[BullBear52x]

BullBear52x, I don't quite agree with your rising wedge. On the 5 min it looks as though SPX broke out to the upside, right? This doesn't mean I'm very bullish, but this wedge ain't going to rescue the bears - unless the breakout is a trap

Bulls.png

$SPX Rising wedge over shoot. relief rally pull back is at hand.

1.PNG

My focus for this coming week will be more toward UUP/dollar and commodity inflation side of thing. weakening in dollar is good simple sign for century to gauge inflation why will this time be any different right?

4.PNG

DBA bottoming construction seems to be in place.

5.PNG

We just happened to use different book of charting.
If no entry and exit tag on the chart it's useless to me, nice chart doesn't translate to profit without absolute entry and exit number.

[BullBear52x]

However ones draw a bearish rising wedge at current level. the sell is not suppose to trigger until a breakdown.

[nikman]

Thanks Uempel and BB52x for these opposing but very plausible views. If it is a bull trap (quite possible based on the several other charts and comparison with 2008), then also it can still go on till SPX 2018 (Uempel's MA191) before breaking down of the wedge (it may still fall inside the wedge first to touch the lower boundary and then go up one final time to touch SPX 2018). Is there a measured move target for wedge breakdown?


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[pezhead9000]

WSJ TSM Block Money Flow + SnP500 Tick data - still positive trend

[fehro]

Here is an old Credit Suisse guide to technical analysis. It's a few years old but a nice guide for beginners who want learn a lot quickly.
https://drive.google.com/file/d/0B6L29- ... 9fTEk/view

Great info, simple and effective!

[fehro]

http://www.investing.com/economic-calendar/ Duelling FED FOMC members tomorrow, 1:00pm ET

[fehro]

However ones draw a bearish rising wedge at current level. the sell is not suppose to trigger until a breakdown.

yes.. and mind the retest .."IF" there is one

[Royal Flush]

Friday's trend channel line over shoot and reversal was a classic end of trend price action. Not that we're not going higher just that I would expect at least a couple days correction.