Dear Readers, The National SOPITALIST Casino is closed for today. We did not trade and anticipated the downdraft to satisfy the need for "YELLOW BRICK ROAD" Roadmap to fulfil it's promise. It is amazing that so far this Roadmap, published 5 months ago has created almost better than 90% correlation with Nasdaq. Marks outlook in previous post fits perfectly into the Roadmaps outlook and I have nothing to add to Marks short term forecast. Thanks to all who actively paticpated and/or passively watched our site today.
Hi Boris, The $NDX Exponential Trendlines are closing in on price, which mimics a symmetric triangle I can see on the intraday charts. The backdrop is a little mixed, $TRIN is suggesting a bottom here, even as Bullish Percents, stocks above their 50 day moving average and the McClellan Oscillators all declined sharply today for almost all indexes. Triangles are usually continuation patterns which would suggest continued weakness, ordinarily. New lows rose to 342 on the $Nasdaq, but that doesn't yet match the maximum of 8/16/07 at 506 new lows.The $SPX stopped falling on support around 1430, and this is a strong support level... Because we have high $TRIN readings, and traditionally before Holidays are bullish periods I would expect a bounce is possible here. The Trendlines and Exponential Time Nodes are basically not suggesting anything but continuation..so probably oversold and holiday conditions will rule here...Regards,Mark Lytle
Hi Boris, The $NDX Exponential Trendlines are closing in on price, which mimics a symmetric triangle I can see on the intraday charts. The backdrop is a little mixed, $TRIN is suggesting a bottom here, even as Bullish Percents, stocks above their 50 day moving average and the McClellan Oscillators all declined sharply today for almost all indexes. Triangles are usually continuation patterns which would suggest continued weakness, ordinarily. New lows rose to 342 on the $Nasdaq, but that doesn't yet match the maximum of 8/16/07 at 506 new lows.The $SPX stopped falling on support around 1430, and this is a strong support level... Because we have high $TRIN readings, and traditionally before Holidays are bullish periods I would expect a bounce is possible here. The Trendlines and Exponential Time Nodes are basically not suggesting anything but continuation..so probably oversold and holiday conditions will rule here...Regards,Mark Lytle
16 comments:
Boris,
thanx
old john
Just an observer today.
Dear John,
Thanks and Good trading to you
http://online.wsj.com/article/SB119542008187297217.html?mod=fpa_whatsnews
China news
Boris,
9 pm chicago time
questions
will the yen break 109.13?
and do you think it may it a target of 106.38?
been doing my homework.
:)
old john
Hi Boris,
Any thoughts on energy or uranium stocks for the next 2-3 weeks?
Hell Boris.....
As you are talking of a "washout":
Do you think it is time to exit the buck once again or should patience
rule until the 26th of November?
Also, is gold a buy now or sill better to wait till Monday as well?
Dear Xerxes,
I think there is a final scary dive awaiting for $USDollar to take it to 74 and even 70( not very probable). When do you sell it? Some now , some later 26 if better chances, hard to say. One never knows. Even with all I think I know or people think I know, I do not really know, just have feelings about the market and timing and could be wrong in that timing, but I think I am more confident in the decline of $USDollar next few weeks and that is why one would do well to do it in peaces not all at once. Like sell some ( two days ago(: :)) sell some now and some some more if 26 +-2 days shows more weekness. Saem advice about GOLD.
Good Trading
Hello Boris...
Thanks for your assessments on the buck....As your gauges seem to have a level of accuracy like nothing I have seen before, your opinion is interesting and important...I don't mean to pester you about the buck....
just trying to recoup years of inflation induced losses imposed by these sopitalists, as you call them.
Dear Xerxes,
I know your situation. Investment is not easy in this convoluted world.
Do not worry, about bothering me. This is not frequent enough to disturb my schedule and it is mostly when the USA markets are closed.
It also gives me a chance to reflect on things.
By the way the CHF just hit a tremendeous support at 1.1077 and We got to have some rebound here in $US.
Good Trading
Hi Boris (after a long time),
if I understood you well, you think the stock markets should find bottom this week probably and go up during December. OK?
Good trading
Mark L,
I emailed you with a question concerning your charts.
thanx
old john
Dear Kuraki, At least into late November, Early December I see the move up especially ( Nov 26 to Dec 5). Yes, we could still be playing with the lows in stocks til Nov26, how is that for a holiday ( thanksgiving gift-sorry)...
After that expect the return of down move again into the mid late DECember.
Dear CUraki, nice off you that you start to look at stocks.
Good Luck.
Hi John,
Is this a follow up to the reply from last night? I don't see anything in my inbox at the moment..
Mark L.
Hi Boris,
Being an experimenter by nature, I was wondering if you had ever considered throwing Stochastics under your Summation index, just to see what you would get. I have found on $NASI and $NYSI, which are also summation type indexes, that this approach has helped me glean more information from them...just thought that I'd mention it..
Regards,
Mark L.
Mark L,
My question was about how to spot the highs on a specific type of chart. I studied the $NASI and it seems to point out the bottoms but the tops?
any input would be appreciated.
thanx
old john
Hi John,
I sent that last night but it must have got lost in the mail somehow..I'll resend..
Mark L.
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