Wednesday, February 10, 2010

SPX Hourly Trend Model

This chart goes along with the email I just now sent out to subscribers.  I meant to include it but ran into formatting issues and a loss of patience:

SPX Hourly Trend Model


t said...

Today's opening action in markets ,a fairly mild down day so far, seems almost 'apologetic' in its tone.

Anonymous said...

I'm seeing this price action from monday's closing sell off thru a "mix"... of down and up...neither one going down far enough (monday into tuesday) or up far enough (tuesday)
and today is a continuation (so far) of the same 'mixed' indecision energy.

Friday was a strong wave 1 thrust up.
Expecting a strong wave 2 down didnt happen ,except for the end of day sell off on monday.
tuesday didnt continue the selling which would have completed a fair correction ,pullback off the friday move up.
Then, tuesday turned uptrend,continued up but not in any powerful (wave 3 ) you cant call it a wave 3....its a weak half move like the mirror image of the weak down wave of the previous day. and now, today is a mild inbetween day sort of correcting yesterdays mild up day.

So I'm calling it a mixture of half a wave 2 down plus half a wave 3 up... ultimately may become the (wave B) if/when
a stronger true wave thrust Up commences to complete the ABC rally that is expected.
After that ....WATCH OUT Below.

Anonymous said...

any thoughts on the markets anticipating good jobs #'s tomorrow ?

a manipulated improvement to go along with the good spin on last weeks bad #'s could give the market a good rally for a couple days............then proceed down ?

t said...

Price and wave action(from last friday thru today and especially consolidating today appears to be developing into a Triangle terminal point converging at the 1070 area.
bracket is 1074-1066

how much longer it will take to tighten into 1070 i dont know.
but the breakout in either direction should be sharp to the next s/r point
a double bottom at 1045 or a push to 1090-1100 test of 1100.

some interesting s/r and fib #'s for 1070

1150 top

1110 key fib and s/r

1070 middle

1030 key s/r

990 bottom

Anonymous said...

Mr. T

Is it time to get into ISCO or is it too late?

t said...

Thanks for asking.I'll tell you my best thought on it.If there was a way to email you privately i could send you an update.but otherwise

ISCO,in my view, based on the professional analysis of those close to the industry.... is a very good and solid company with a super homerun potential story....much like NNVC.

I'm not as 'expert' on ISCO as Allan is about NNVC

I only know what my advisory says and it feels solid to me.
The latest updates on ISCO are telling that the next step in production involving the opening of their new facility is a big thing for forward movement. not a flashy story that would pop the stock (like an FDA approval announcement for example)
but internally,as a shifting into high gear is a major achievement.

Now is the time to buy ISCO IF one can find a good entry price.
Of course a better time to buy would have been a few months ago, but thats how things work.

If you look at ISCO's chart you can see the MA's,EMA's ,different time frames,trendlines,fibs, etc....and they point to areas like 1.10 -1.17
.93 area
then a shoulder bottom in the 80's.

top areas like 1.40

You know when these penny stocks pop like they do ,they follow with a big movement correcting,ISCO has done this, and then they make a long slow curve,what could take months.
Looking at the chart,I would consider any entry point at or below

1.00 to be ok.( BUT sometimes waiting on 'best entry points' can be tricky,while youre waiting for 1.00 so is everyone else and so maybe it will hit 1.06 and pop from there. then again, the other day it dropped to .93.)
its hard to make it exact.
There is an old price point from months ago at 1.17

Can it drop to .80 ? of course it can.

Maybe one thing to understand is that this is not one of those pump and dump meaningless stock spikes to trade and dump.

this is a long term homerun developing.

There will be more spikes and parabolic drops,I'm sure.
but ultimately,I plan to hold it like I hold NNVC.

NNVC has been establishing a base in the 1.00 area now. and now slipping down into a basin that is centered around .89-.90.
I think ISCO can do the same.

I would never chase it.
I would watch is daily by the hour and see what price and wave action is doing.
I like the idea that ISCO might bottom (and hold?) in the 1.00 area.

I'd be happy enough to make my first buy there.
Strategy wise, maybe I would buy 1/2 at 1.00 and hope to see a better price at .90 or less for the other 1/2.
money management.

But I'd cry alot louder if I missed my chance to get a full share below 1.00 if 1.50 becomes the new baseline.

I own 10 thousand shares ISCO. I may buy some more around 1.00 or less. If I had none...I might consider buying at 1.20-1.17 or less.

Examine the chart and decide your s/r points and fibs that youre comfortable with.

I would not currently consider it a bargain above 1.30

I just study the chart and the s/r points, fibs, etc.

Under 1.00 is a gift.

Hope this helps.

Best if you could read Patrick Cox's advisory and updates on it.


Anonymous said...

Between the markets, love, and life in general this was the first thing to make me smile this week :)