Thread: Chart Analysis

Going great clester. I saw your move. F Fund two gaps up break.

AGG MOD.jpg

C fund Weekly chart on stockcharts.com.

16 Nov 12 C fund.jpg

Using the 5 EMA as a simple buy/sell indicator seems to be working very well.

Also sitting on strong support from 2011.

Adding to this

Although I tend to trade in the short-term, I do have concerns over 2013's outlook. On the monthly chart you may notice that each of the consectitive upswings are shorter in both duration & price...

Attachment 21177

Originally Posted by JTH

Adding to this

Although I tend to trade in the short-term, I do have concerns over 2013's outlook. On the monthly chart you may notice that each of the consectitive upswings are shorter in both duration & price...

Attachment 21177

well that reads about as plain as day.

if that progression holds true, what is the max upside and likely timeframe?

i'm in the market and would like to know the details so i can weight that factor.

next week i think is gonna go green. not as optimistic for the longer term though, then again if the weekly chart shows me something different my opinion can change.

it's easy to get faked out from daily fluctuations but the weekly chart rarely ever is fooled (weeklies are saying more downside, but possible bounce first)

Originally Posted by burrocrat

well that reads about as plain as day.

if that progression holds true, what is the max upside and likely timeframe?

i'm in the market and would like to know the details so i can weight that factor.

I find that overlaying price over time is very difficult, lots of folks think they can do it, but the majority of the time we are wrong. I'll estimate that we won't revisit the 2012 highs this year because that would imply a 10% climb over the next 6 weeks. If I were wrong and November were to close just under flat, then I could entertain a 6% December, that would take us to a 2012 high of 1486.66. At this point I'd estimate an horific January/Febuary with a >8% decline taking us back to 1370. That's the upside projection.

For the downside, I show the 1266 swing low from Jun 2012 to be the key pivot of which a breakdown below would lead to a test of 1175. If 1175 fails, that indicates a test of 1075 to 975. I realize these are bleak projections, the bottom line (and what we do know) is that momentum is wanning, what happens after that is anyone's guess.

Attachment 21181

18 Nov 12 C Fib 1.jpg 18 Nov 12 C Fib 2.jpg 18 Nov 12 Fib 3.jpg The first and second fib retracements went all the way down to the 61.8% retrace. The current pullback has now touched the 61.8% retrace on the weekly chart. If that level holds, I see a large run possible. Pres. Obama and congress have both said they feel hopeful that they can avoid the fiscal cliff which is giving hope to the market. I am not a buyer at this level, but I might be towards the end of the week if it seems to be holding or moving back above its 5 EMA.

Originally Posted by JTH

I find that overlaying price over time is very difficult, lots of folks think they can do it, but the majority of the time we are wrong. I'll estimate that we won't revisit the 2012 highs this year because that would imply a 10% climb over the next 6 weeks. If I were wrong and November were to close just under flat, then I could entertain a 6% December, that would take us to a 2012 high of 1486.66. At this point I'd estimate an horific January/Febuary with a >8% decline taking us back to 1370. That's the upside projection.

For the downside, I show the 1266 swing low from Jun 2012 to be the key pivot of which a breakdown below would lead to a test of 1175. If 1175 fails, that indicates a test of 1075 to 975. I realize these are bleak projections, the bottom line (and what we do know) is that momentum is wanning, what happens after that is anyone's guess.

Attachment 21181

thanks jth, that was a refreshing bit of clarity in a world full of noise.

my max upside for november was about 4% from here too, but only because i want to pick up 3.5% before the black friday numbers hit and everybody realizes everybody else is broke too.

we already picked up 0.5% on friday, i'm hoping to grab the rest by tuesday afternoon and bail until december when there should be pretty good action when wdc is forced to publicly admit they're broken too. then maybe a real rain will come and wash all the scum off the street.

surfs up, thanks for the chart and explanation.