Where is S&P 500 heading?

luckystar2006

It's NFP day tomorrow, but if the history is repeating itself this setup shows market is going to pull back for the next several days.  

dsp

Thanks for chart

luckystar2006

30-minute chart clearly shows a breakdown today

北京哥哥

luckystar2006 发表于 2013-9-6 08:48 AM
30-minute chart clearly shows a breakdown today

这中间浅蓝色的线是什么？

hotday

纤纤太多，眼花。

befriend

luckystar2006

Market breadth on daily chart seem to show weaknesses with current rebound/rally.

luckystar2006

As for next week with short-term outlook, I expect volatility to pick up each time black line crossing below center line (check the red circle), especially while market is making lower high and lower low.

luckystar2006

I strongly believe there is a lower low ahead, but bears must be extremely carefully here to avoid getting caught on the opposite side since the black line is crossing above both blue and red line (check the green circle) on daily chart.  Once the black line is crossing above the center line, it's likely we'll have a mid-term rally to the end of this year.  So, bears better watch out.  In the meantime, let's see how Syria event is going to play out next week.

yitong

what is NFP day? thanks

luckystar2006

yitong 发表于 2013-9-8 12:01 PM
what is NFP day? thanks

Non-Farm Payrolls also known as NFP, is reported monthly by the US Bureau of Labor Statistics to give a timely glimpse into employment changes inside of the United States.

lilitulip

lilitulip

luckystar2006 发表于 2013-9-6 11:39 PM
I strongly believe there is a lower low ahead, but bears must be extremely carefully here to avoid g ...

what is the difference between this chart's bottom panel. indicator compare with previous message's chart top panel indicator?  both are NYDEC:NYADV.  thanks

luckystar2006

lilitulip 发表于 2013-9-8 03:44 PM
what is the difference between this chart's bottom panel. indicator compare with previous message' ...

They are basically the same indicators with the same parameters, but in different time-frame (i.e. 60-minute v.s. daily chart).  In 60-minute chart, it implies high level of volatility/risk for this coming week.  In daily chart, once the black line crosses above center line, Market should *normally* hit climax selling point (i.e. capitulation) before we have a medium-term rally.  I used NYDEC:NYADV here as an example, but you can also use the indicator of NYLOW as well, which you can find it from Cobra's charts.

luckystar2006

The above setup is somewhat similar to this chart, but my chart provides a better picture of timing entry and exit point.

happymaker001

要是都跟图跑， 华尔街裤子都没了。

luckystar2006

happymaker001 发表于 2013-9-8 05:14 PM
要是都跟图跑， 华尔街裤子都没了。

Nothing works perfectly and there is no holy grail indicator working 100% of all time.  What charts with properly setup of signals do is to reduce the risk of being on the wrong side.  Ever been working in trading environment at investment banks before?  Then, you don't know how important TA or charts it's to all the traders/strategists.

luckystar2006

This chart shows market might have more rooms to rally on the upside.  I missed out this rally from the bottom due to unconfirmed signals.  In the meantime, I'll wait for the market to pull-back before I make a decision to long the market from there.

luckystar2006

Something is not right with CPC index????

yah00888

这图看的眼花缭乱啊