S & P and financials - not so bad

We were waiting for the pullback, may be it was more agressive than the one we could desire (especially with the VIX blowing up). Key supports are holding. 

SPY & QQQ: hope this time is different

Sell signal in the 60 and 10 simple moving average system. Should be different this time?

Back in time

In VIX / out SPY

May be...

S & P 500: technical patterns

Just some EW counts that I am following. 

DIA & SPY

Buy signal in the DIA ETF, not confirmed in the SPY.

Another strange move in NYSE

Take a look at this explanation in Bloomberg on what happened today in the SPY. Some important paragraphs:

"Data published by the electronic venue at 4:15 p.m. New York time showed the SPDR S&P 500 ETF Trust at $106.46 compared with its opening price of $117.74. The apparent plunge in price involved 7.2 million shares in the closing auction on NYSE Arca, according to data compiled by Bloomberg at 4:30 p.m."

"The 104-page study released Oct. 1 said trading software known as an algorithm linked the rate at which it traded the E- Mini contract to overall market volume. The initial sales spurred a flurry of buying and selling among high-frequency traders, which in turn led the algorithm to sell faster."

Another proof of the weak controls in this market.

May be today we have a new millionaire...

Nyse breaks trades of S&P 500 ETF showing 9,6% plunge

SPY: updating elliot wave count

Updating my EW count from September 1st, this could be the road-map. If the market is following this pattern, we are now in the wave 5, wich should take us to 140 SPY. But without the help of the financial sector (the XLF, and specially the big banks, are underperforming the indexes) the risk is high.

SPY: elliot wave bear count

In opposition to this bull count, I am following this bear count. May be we are seeing the final stage of the wave 2, and we should have a big drop next week if this EW count is the right scenario. I am following two alternative scenarios. This is the bear:

The big picture. If we use some imagination, don't you think that this chart looks like a big inverted Head & Shoulders pattern, in which the white line is the neckline?

Fibonacci's retracements:

S&P500 in EURO

If this hypothesis is right, we will have a rally on the S&P.

SPY / S & P 500: Intraday situation

SPY - DIA: History repeats...

Look at this interesting patterns. Notice that one chart is daily, and the next is weekly. One is from 2010, the next is from 2008 / 2009. Notice the same volume pattern, the same wedge, the same MACD pattern and the same H & S. Looks easy, doesn't it?

Logarithmic or arithmetic charts?

If we use the logarithmic scale, the SPX is under the trend-line. If we use arithmetic scale, it is above the trend line. So?

I compared this situation with the one that happened in 2009. Let's see:

Now, in 2010:

Road map

This is the pattern that I am following. Until it is broken, I will be waiting for a definition.

Analysts following this pattern: Charlie and analista tecnico.

Wait & See

Today's action was really strong.  But the trend continues down (Using weekly EMA's) and we have some resistances.  I am waiting for a signal to go short. 

S & P 500:

S & P 500:

Dow Trasnports

XLF:

There is no reason to go long

S & P 500 in EURO:

S & P 500:

DAX in USD:

The edge

S & P500:

SPY:

DOW TRANSPORTS:

Russel 1000 Financial index:

SPY: Daily & weekly view

SPY weekly chart:

SPY daily chart:

Following 1929

Keep following the development of this pattern.

Notice that the time of the development is different, but the pattern is the same.

If you are not impressed, look this. Currently, the next support in the channel in which the DOW JONES is moving is at 4.000 points. 

Get ready for a bounce

The indexes in Europe look very bullish. Bullish engulfing in DOW JONES

DOW JONES Financial:

DOW JONES Transports:

IBEX in USD:

FTSE in USD:

CAC in USD:

DAX in USD (from all the charts, this one looks the most bullish)