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Wednesday, January 12, 2011

Wednesday, After the Close!!!

The Baltic Dry Index is still in a total free-fall, making another lower low today, and breaking below support of the previous low made back in September 2009 at 1463. Today's low was 1453.
Close to a miracle today, the squiggle count is working out, and the larger picture is becoming much clearer, so far, a good sign because the beginnings and endings of the larger waves are normally much clearer then the middles, and more predictable.(fingers crossed)
The bulls did have a good day and finally got the SPX to break out of that trading range we have been stuck in for the last week and a half, though over-all internals were not very strong, with Breadth closing at 2.52:1, advancers on light volume, only 960M shares on the SPX.
Support now resides at 1269.62, the previous low labeled as wave 2 down, black, the SPX has no business down here unless a top of some sort has been put in, or the squiggle count is wrong. 1261 is strong support, and any break below here would be bearish, longer-term.
The Trend Finder II has had some changes today.
The FED has released its Tentative Outright Treasury Operation Schedule for the next month. Ben is keeping the gas pedal buried to the floor with purchases pretty much ever day thru mid-February. This is just sickening, watching the United States buying its own debt so Washington can keep spending money we don't have. BTW, the Dollar took a large hit today, down over 1%
Roy released a new mid-week video clip, where he is short-term bullish, he shows both the SPX and the DOW, you can view it by Clicking here!!!


  1. hi Michael.
    Great stuff sir.
    delete my blog from favorites.
    I have send you my work

    What i expect next 3 months?
    Only change key suport 1220 now 1262. I`ll explain why I changed the key suport in the next post.
    Above 1262 expect continuation upswing target range [1297,1324] After that expect test 1150 area or ever more lower

    Suport 1220, 1235 and 1262;
    Resistances : 1297 and 1324
    Will change thought if spx close daily below 1262 next weeks.

    SPX - SYSTEM EOD - Sytem Long Full Position - No change

    Another run and new highs.
    System remain long full position. If close below 1262 next sessions will reduce position 50%.
    Good luck folks and trade well. Click to zoom in.

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  3. Strength is his middle name ......

    There is nothing pointing to its strength.
    There is nothing pointing to resistance.

    I just point out is that a negative transaction.
    Why the opposite? The force (SPX) is with you.

  4. Much anger in the SPX and can cause considerable pain .....

    Strength, power and more strength. These were made in 1292 with an impressive category. The machines seem to dominate the calculations more esotheric.

    I got out of long, and went to the side ofthe short. My blood will boil Monday. Short 1292.