Sunday, January 9, 2011
Just from the counts we are at a very rare place as the SPX has made a weekly 12 count heading for a double 13 which is a powerful combination as the NDX completed the double weekly 13 last week. The only delay in ths respect may come from the green counts sine a new set up made a 5 (they end with 9's but green counts do not demand higher prices anyway. Daily counts do support the theme of a top as the daily is at an 11 hence we need still at least one new high-close , max two to complete - the NDX in the daily needs 3 . The MA's of the ISE have reached levels which always triggers severe corrections as we have reached extreme bullish sentiment on many indicators basically we can say we are set or a decline. The 3rd component astrology has made two major patterns which supported a top to be made around this time. The total lunar eclipse within a T-Square which needs to play out as it was in combination with the 3rd and final conjunction of Jupiter/Uranus on the 4th Jan, who were the driving force behind the rally since the summer low. The price action the 4th dimension suggests from many angles as well we are about to be done with the upside action the coming week should produce a reversal most significant in this matter is the NDX as the monthly 13 is set and even more importantly around 2300 we are running into a huge resistance of a 10 year trading band.
Posted by getagrip at 1:19 AM