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.
A
10 comments:
Agree with you
Any change on CEP setup
thx
Re: above blogged chart
worthy of framing...
let's see how the plunge protection team affects it.
-Mike
I don't consider the odds of breaking 900 on the first attempt to be very high.
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.
Allan,
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?
Thanks.
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.
http://www.carbonsciences.com/01/investors.php
Interesting stock for further research
>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.
Allan, thanks for taking the time to respond ( sorry for not having read your prior posts).
Allan,
Do you think we should hold our NNVC or buy it back after the coming turbulence?
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