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Strategies & Market Trends : STO AV/DB Workshop

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To: SGJ who wrote (2)	10/16/2012 6:33:05 PM
From: SGJ	1 Recommendation Read Replies (1) of 93

SPX : The Monthly RSI is at 64, giving it some more room to run. The STO's are all on AV, however they are registering up in the 90's. So at some point a correction is going to occur. On monthly RSI and STO readings like this though, you can have another 150-250 points upside before it turns down. The MA's are all in bull mode and the the top Bollinger has not been pierced yet this month, but it is sitting right below and did pierce last month, so again, its getting to a point where a correction may occur, but it is a ways off for now. The Weekly has just recently demonstrated classic AV on the Fast and Slow STO and RSI is showing modified AV after reversing from 58. All MA's are in bull mode and its in the upper third of the Bollinger Band. I don't like the MACD reading though, its starting to turn down. I'm watching it closely. Overall the weekly read confirms the monthly, that the market should go higher. On the Daily chart PPO is just about to give a buy signal and RSI just had a classic bounce off 45 for some strong AV after this last dip. STO's are moving up indicating bull market action and have not reached oversold yet. The 9 is about even now with the 13 MA and the rest line up bullishly. The index closed today 10 points over the 9 day. Still need an MACD cross and a SAR transistion, but I am going out on a limb and saying that is going to happen. Daily confirms the monthly and weekly. Jeff's methodology points to another 200 points up from here over the next 3-5 months. 1650 by March 2013. Then probably back down to where we are now. But let's enjoy the present. scharts.co

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