heehee1..Here's my take on what to expect (JMO), so take it with a grain of salt.
In the near term 1-5 days, I'll watch Fridays highs and lows for clues. If Fridays lows don't hold then I'll be watching last weeks consolidation around 1050 on the S&P500. The 60min indicators are finally rolling and the daily's are right behind them (Very toppy, although they have not rolled yet). My guess is we won't rally like we did in April because of the uncertainty in the markets today (We did not have a war or a threat on our homeland in April).
In the mid term 1-3 months, I'll be watching the 50ma's. They are now heading up on the 60min, after heading down for the last 6weeks, but they're still heading down on the dailies.
Here's a chart.
stockcharts.com[w,a]daclyymy[pb50!c50][vc60][iUb14!La12,26,9]
Very similar to April but look how the exponential crossed above the simple.
In the longer term 3-6 months..Keep an eye an the daily indicators (turning up or staying up) because the weeklies and monthly indicators are both set to rally (unlike April) although I feel the ripple effect from 09/11 will start to show up 3-6 months from now.
Here's another chart I threw together over the weekend to keep an eye on the total picture (you can change the time frame's)..
stockcharts.com|B|a12,26,9
EOM
FWIW
I'm still short S&P Novputs..... |
