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Monday, December 21, 2009

Monday Updates

Here is something interesting. Breadth, the advancing issues are getting weaker, as the decliners are getting stronger. The advancers have been making lower highs, while the decliners have been making high highs. I saw this last time we had a sell-off, and it is looking like it is playing out again!!!
After the bell, Things have not changed much since I posted the charts below, we are still up in the top of the range we have been stuck in for way TOO long. That is why I put up the Russell chart, at least it is not stuck in such a tight range as the SPX, it is nice to see a little variety.
The numbers of counts available now on the SPX is to the point where I am not even going to try and guess which is most likely. All I am going to say is that we are at the top of the range, and the short-term indicators are topping and rolling over to the bearish side.
Breadth for the day was only 2.57:1 advancers. Not strong enough to even consider that a very bullish move today. The VIX did make a lower low, but still has not made a new low.
Can someone please hit fast-forward!!!!

I would like to thank everyone who is spending their valuable time checking out the blog this week!!!
With Christmas season upon us, and most traders and investors taking the holidays off to spend time with their families it is nice to see the traffic is still up :)
I hope you enjoy your Christmas, and yes, I will be posting everyday, no rest for the wicked, hehe!!!

8:02, Here is another possible option, and the most bullish I have, with the "C" just getting under way. It has the "B" wave labeled out as a double zig-zag.
Breadth today is only running 3:1, advancers, so this move today is not all that strong!!!

7:44, the VIX is holding up reasonable well, not making a lower low, as the SPX was making a higher high. And still is above trendline support.

7:37, The counts are now back in limbo, just too many options available to settle with just one!!
there is a nice looking inverse island formation on the charts, with gaps on both sides. And the SPX did make a higher high, breaking above 1116.21.
7:20, Now we are back to the top of the Bollinger Bands, this now should provide resistance.
7:18, the SPX broke way outside of the Bollinger Bands, mostly likely will reverse to recapture the Bands.


  1. col,

    i know you're not nostradamus but could this be the headfake you have been alluding to?

  2. No, whitemule, still has not broke out of the BB on the daily chart!!

  3. I think we just got 5 waves up on SPX today, but don't let it fool you, this is not the start of C. just yet. It was [c] of x. of (y) of B. in an expanded flat. We should have one more leg down to complete B.

  4. Columbia, what time-zone are you in?

  5. Gumbo, hey there :)
    I am in the pacific time zone, west coast!!!
    Thanks for sharing your thoughts, I keep up with you on Binve's blog, I just do not have much time to comment, but I love the work you are doing!!!