Live Update

Wednesday, October 7, 2009

10/07/2009 Market Recap: The SPY's 12th Unfilled Gap?


Could be an Ascending Triangle in the forming, the target is 9/29 high.

  TREND MOMENTUM   COMMENT - Sample for using the trend table.
Long-term Up      
Intermediate Down Neutral    
Short-term Up Neutral    
SETUP DATE INSTRUCTION STOP LOSS Mechanic trading signals for reference only. Back tested since 2002.
Index ST Model I     Stopped out long with gain on 10/01. No position held now.
Index ST Model II   10/06 High Short position initiated on 09/30.
VIX ENV 10/07 *Move stop loss 10/06 Low Long position initiated on 10/06.
Reversal Bar 10/07 *Move stop loss 10/06 Low Long position initiated on 10/05.


AH up big plus a possible Ascending Triangle in chart 1.0.2 S&P 500 SPDRs (SPY 60 min), and the Cup with Handle pattern mentioned in chart 1.0.4 S&P 500 SPDRs (SPY 15 min), it seems like that the market will skyrocket here. I still feel very difficult to image that the SPY is going to have the 12th unfilled gap tomorrow. But anyway, NO ARGUE, the next long signal could be from the Index Swing Model I – Buy on breakout of the 9/23 high. But for now, as discussed in yesterday’s report, because CPCE readings are too low, so still maintain the “consolidation then pullback” forecast. Tomorrow will be the key day: If the market couldn’t hold the morning gap and forming a reversal day then my forecast may have better chances to stand correct, otherwise I’m afraid that bears may suffer AGAIN.

SPY60min SPY15min



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