Hahn's "times" -
all 3 indices -
intraday times -
Jan. 27, 29, 31
times
Feb. 14/18,19
Feb. 28
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Summary: The charts have sustained some serious technical damage. The SPX and DJIA have broken through the December lows and
simultaneously broken the neckline of a bearish Head & Shoulder pattern. The Transports collapsed and have already exceeded an
0.618 correction of the post October rally. I don't take any comfort in the fact the the Nasdaq held above their December low's. So
far, there's nothing on the chart to prevent it from following suit. Naturally, all of this shifts focus to a test of October 2002 lows. How
important that number is as a target will have to do with how long it takes to test it. A quick test is the most bearish scenario, it
opens the possibility of lower lows, because the timing for a major low is too early. If the markets would melt down early next week
and test the October low's, it would be the ideal set-up for significant new lows in February. If we just chop along and chew up time,
a break of the October low's becomes less likely. I do look for a test either way. It will be useful to watch the $TRAN. It simply fell
apart. If this pace continues, it would break the October target first. That will be the kiss of death for the DJIA.
There is strong time Monday at 12:30 (cst). It looks like we'll be in one direction from that point into Wednesday morning. The rest of
the week will zig zag back and forth. Good for day trading and not much else.
We still have important inflection points every two weeks, on January 31st, February 14/18th and February 28th.
Major timing needs to be watched plus or minus 2 days of the projection. All timing is based on Central Standard Time. Intra day timing
studies are strictly to predict volatility for the purpose of calculating better entry and exit points.
The SPX (INX) 15 minute chart shows Friday's only timing projection at 12:15. Although a slightly lower low was made near the close,
12:15 marked the end of the downward thrust, followed by sideways action the rest of the day. The 1/22 low to the 1/23 high
projects to Monday, 1/27 at 12:30. This is a clear wave which will affect the trend of the market at that time. If we are sideways to
high, it will be very bearish. At this point, it looks like the next leg will last from Monday at 12:30 into Wednesday (based on data from
the Nasdaq chart). A low into this projection should result in a lift in the afternoon session, that could continue through Tuesday. |
