New Web-site!!!

Primary web-site now for EW Trends and Charts

We have moved!!!

There is now a NEW Web-site for EW Trends and Charts, the new web-site is the primary site for this blog and this site is only a back-up site now. If you are a fellow blogger, please adjust your links for the new site!!!!

Click here to view the new web-site for EW Trends and Charts

Tuesday, November 2, 2010

Tuesday updates!!!

Click here for a live, and updated chart!!!
8:27, The SPX is still bouncing around between the lower channel line, and it's median line making higher lows, but in the last six days has been unable to make any higher highs as it progresses forward in what is best counted as an on going series of corrective a-b-c's since the high back on September 20th. 1177.65 is where the first lower low would now take place. 7:31, On the long-term weekly chart, the 200 week MA is in play now.
On the long, long-term chart, the 50 month MA is coming into play as strong resistance at 1204.40, it has been close now to two years that the SPX has spent below this resistance with the last challenge back in April this year where it was rejected. There is also very strong support building in the 1065-67 area from the 20, and 200 month MA's. The 20 month provided support for the low back at 1010, this is one level that the bears need to take out if there is ever going to be a serious sell-off, in a P3, or a "C" wave down of some sort.

No comments:

Post a Comment