Market Outlook

Now severely overextended SP500 still leads the pack and it really wants to rollover.

http://stockmarket618.files.wordpress.com/2012/01/2012-01-18_dow_wk2.png

 

Posted on the 12th :

Another in a long series downleg starts you've told us about since August 2011. Wouldn't be a normal week if you didn't post the start of a downleg.

 

did you teach it that trick? can it shake hands? can it sit too?

 

And if you're so bearish, why aren't you short at least something? Why are you telling everyone else to short but you won't do it yourself?

I bet you weren't long when you called that the selloff was over. I bet you weren't short when you called the end of the bear market rally in May 2010.

 

Extremely overextended SP500 still leads the pack and it wants to rollover.

Megaphone with possible diamond formation:

 

Further upside expected.

Further upside expected.

 

SP500 weekly chart shows Wile E. Coyote scenario with megaphone pattern and possible diamond formation.

SP500 etc. daily charts extremely overextended and want to roll over.



Information regarding 'Nine_Ender'
http://www.elitetrader.com/vb/showthread.php?s=&postid=3420767#post3420767

 

At least he's adding charts to his boring repertoire now.

 

Again, you posted this on the 12th. God help any traders that follow your advice :

 

SPX going 11 for 13

Jan 20th ??????

Jan 19, 2012 131.46
Jan 18, 2012 130.77
Jan 17, 2012 129.34
Jan 13, 2012 128.84
Jan 12, 2012 129.51
Jan 11, 2012 129.20
Jan 10, 2012 129.13
Jan 9, 2012 128.02
Jan 6, 2012 127.71
Jan 5, 2012 128.04
Jan 4, 2012 127.70
Jan 3, 2012 127.50
Dec 30, 2011 125.50