Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 53.91

+8.6%

4:00 PM EST

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To: GROUND ZERO™ who wrote (82693)	6/12/2013 8:51:23 AM
From: John Pitera	Read Replies (1) of 207707

*SPX Daily Chart, 60 minute chart and 15 minute chart with Proprietary RSI with MA overlay and EMV Volume per time period cumulative indicators* SPX daily chart shows that we are in intermediate sell mode and should continue to correct until we reach the same type of decline that we saw, last year from Sept into early Nov.... based on the 14+% the SPX was above the 200 day MA and the 9 period RSI being in firm sell mode as its below the 45 day MA on the RSI chart... the EMV cumulative price volume indicator also shows expanding volume on this decline since the May 22nd - 24th price top area.. 60 minute SPX shows: that we could realistically go higher lower on balance over the next several days.. we need to look to the currency markets and the action in the US AND Japanese bond markets. if the $/JPY continues to weaken it will place downward pressure on US equities. the 15 minute is interesting.... the futures are forecasting a hgher open this morning... but let's see if we get traction.... some of the very short term cycle work says we could rally into Thursday... Friday... John 15 minute SPX shows a short term descending wedge which is a bearish pattern in the very short term aaaaaaaa

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