Monday, 9-10-07

Monday is now the critical day, it either crashes or it trades higher above the moving averages and continues on up until 9-17-07. Time is in the seasonal solar eclipse fall equinox crash window starting Monday. Note we can see five waves down to the “C” wave low? Monday if the open bounce stalls below the 1469/1472 moving averages zone and accelerates below Fridays low on down to the low 1430s the market is crashing. If it opens up and closes above the moving averages then we are up cycle until the FOMC meeting. Next weeks max up cycle projections are 1475 to 1499, max down cycle projections at 1451 to 1428. Odds are we do not get a crash and we see a move up to near 1540 by 9-19-07. Note how close the two charts are to a buy signal? I like to see the 60 minute stochastic below 1.0 also however it can bottom now or we may see a dip to 1445 lower band first.

9-07-07 Intraday

You can see a down up down correction pattern that has solid support at the low 1450s to 1447. As the 120 minute chart band contracts and the 60 minute chart stochastic drops below 1.0 a buy signal is given. We are on a sell signal from 9-04-07 last hour of trading at the 1490 area. On these short term buy sells at 40 points we just take it then wait for the buy signal. Odds are early Monday we will be at a buy signal condition.

Friday, 9-07-07

60 minute chart found support at the moving average and price has drifted up with the average. Note the lower band at 1465 aligns with the 120 minute moving average? A second leg down is the normal expectation with this pattern. Friday is a game day with the old JOBS report drama before the open and there is no way to reliably predict what the market will do off a jobs report. A drop all the way to the 120 minute lower band would be the surprise for Friday.

Thursday, 9-06-07

Wednesday did drop to the area of the 1469 projected low at 1466. Odds are it continues on down to the 60 minute chart lower band near 1454. The down cycle projected low for Thursday is 1458 making the 1458 to 1455 a solid support target. In the event that supports fails this week the more bearish pattern is beginning to take over. Tuesday we got a short term sell signal from the 1431 low at 1489 so we are now looking for a short term buy. If the 1450s support holds we may get the buy.

Wednesday, 9-05-07

SP-500 advanced into the weekly projected zone of two wave targets 1489/1498 and the high for the week at 1502 late in the day Tuesday. Wednesday has a down bias with the 60/120 minute charts moving averages as support. That support is critical to the bullish path toward 1605 in November. Wednesdays price projections are up 1493 to 1505, low 1481 to 1469.

Intraday, 9-04-07

SP-500 continues to advance to the C=A 1488 target. The larger C =.618 of A targets 1498. The weekly projected high is at 1502. By Thursday late in the day this advance from 1431 should be completed within those values and a normal 4 day cycle oversold condition at the moving averages areas should get underway.