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Strategies & Market Trends : Zman Market Timing
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To: Kimston who wrote (3396)6/8/2014 8:13:37 PM
From: Kimston1 Recommendation

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Fintas

  Read Replies (2) of 15903
 
The ending diagonal patterns in the DJIA and SPX appear to be completing 5th wave throwovers, which is typical for EDs. The invalidation points (where wave 5 would be longer than wave 3) are:
DJIA: 17,061.49
SPX 1973.72

Wave 1 of the ED was longer than wave 3 in both indicies and wave 3 cannot be the shortest wave.

In my price projection analysis, I see two areas of interest in the SPX. The first is the 1950 area, basically where it closed 6/6/14. If that is exceeded, then 1965 area has a significant confluence.

In the SOX, which is nowhere near all time highs and probably has the largest divergence out there, the key confluence area is 630 (+/- 10 points). This index closed at 617.25, so it's pretty close.

Lastly, the long-term chart of the VIX appears to be completing an ED to the downside. If so, it portends a huge ramp up in volatility in the months ahead.


Kimston
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