Tuesday, June 16, 2009

Intraday update

Above chart is a Daily SPX showing rally up from early March lows and embedded with the Blue Wave Trend Signals. What I see is a new Blue Wave Sell Signal today at 920.49 together with prices just barely breaking the three-month long Trend Regression Channel up from those March lows.

We are coming up onto the final 120 minutes of trading for Tuesday. As I mentioned before, there has been significant buying coming into the market late in the trading days supporting prices. The market is just now popping off of today's lows, so maybe it is beginning early today.

But, if this phenomenon does not materialize and/or prices cleanly break below the three-month long trend regression channel, look out below.



Anonymous said...

Agree with you
Any change on CEP setup

Mike said...

Re: above blogged chart

worthy of framing...

let's see how the plunge protection team affects it.


Michael Lomker said...

I don't consider the odds of breaking 900 on the first attempt to be very high.

Anonymous said...

Allan, for the confirmation are you going to wait for the close to be below 914 EOD or are you going to wait and see if it does that end of week? Looks like the 900 level is a good confirmation point but then again the slide may start well before that level and may be a rapid one wherein one may not be able to take up a short position at 900! Am I reasoning right?? TIA.

CDD13 said...


Are you open to commenting on the BWT sensitivities you use for each timeframe and/or if you use different sensitivities for different charts/instruments/etc?


Allan said...

Re: Confirmation

Yesterday I suggested confirmation would be a break of the channels on the weekly chart and/or weekly BW sell signal. Looks like a break of the channels will come first, around 900.

Re: Open to commenting on BW sensitivities

Absolutely, we are all learning here.

Ubreako said...


Interesting stock for further research

Michael Lomker said...

>not be able to take up a short position at 900!

I assume that you trade stocks? Futures let you have standing (GTC) sell stop orders that'll trigger overnight if need be.

Anonymous said...

Allan, thanks for taking the time to respond ( sorry for not having read your prior posts).

Dirk said...


Do you think we should hold our NNVC or buy it back after the coming turbulence?