Just wasted good hour of my time trying to make either Bluetooth or USB headset to work with Jing (wanted to make quick vid), but obviously I am not only geographically, but also gadget challenged, and, silly me – I cannot locate wired microphone, so here I am typing with one finger and it aint index one…
Over the weekend I posted few charts on Disqus – they are right below
Looks like so far it is playing out quite nicely.
Below is my favorite 4 hours interval chart of SPX – IF we are in wave 4 which is really difficult to trade, we might see SPX 1150sh before we resume move up. Slight move down off TD Setup Sell 9 (started during countdown Sell ) – I'll be watching 1180area for the first clues.
Speaking of wave 4 – if that is what it is – this is where I am getting my 1150sh target – wave 4 after deep wave 2 (76%) is normally shallow, around 38%-.
and today's "bonus feature"!
TECHNICAL ANALYSIS - The most notable observation Tuesday was the number of potential 1-day reversals in commodities. Silver, crude, beans and gold started the day strong, but ended weak, as monetary saber rattling out of China impacted the reflation trade. Curiously bonds took another header, and copper was relatively firm. The trends of these commodities remains positive, and their correlations with one another remains curiously high. We believe their behavior will be important for stocks, as they're the messenger of global growth.
We're very close to the seasonal peak for December in the S&P, and we've actually been substantially stronger than average up to this point in the month. The market tends to consolidate from here until Christmas, and then it re-accelerates. The point is to not read too much into a consolidation over the next week or two, they are typical, and they usually result in a firmer, not weaker, run into the new-year as well
And last, but not least