Turning Points

We had a particularly good run in 2012, successfully identifying each of the major tops and bottoms with a combination of Harmonics, Chart Patterns and Analogs.

2012 tops-and-bottomsLinks to the actual posts discussing and identifying each turning point can be found below.

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April 2 top, posted in All The Pretty Butterflies:

Butterfly #3 — my personal favorite — begins at 1347 and Point B ((at an intra-day high of 1292) is 4 points above its ideal of 1288.74.  The closing price of 1284 was 4 points below.   This particular pattern completes at 1421.05 — just 1.90 from the Mar 27 high of 1419.15. Could 1419 have been the end of this wave?  You bet.

June 1 bottom, posted in Why I’m Buying:

…it doesn’t hurt that we just completed a bullish Crab pattern at the bottom of a pretty convincing looking falling wedge with the SMA 200 just below current prices at 1284.56.  So, I not only lifted my remaining stops as the market fell this morning, I am buying more here at 1287.

September 14 top, posted in The World According to Ben:

Meanwhile, SPX is nearing our 1472 target. I will ease some stops into the equation as we approach it, as I’d like to remain long for as long as possible.  This is a 35 point gain since we went long yesterday at 1437 with the Fed’s announcement… Going ahead and pulling the plug on my longs here at 1474.

November 16 bottom, posted in Charts I’m Watching, Nov 16:

And, there it is.  We just tagged both targets 1344 and 1346 in one fell swoop.  If you’re not already, it’s time to get long. I’m back in with both feet this time, stops at 1339.99 wouldn’t be a bad idea.

December 18 top, posted in Charts I’m Watching, Dec 18:

SPX just tagged the .786 mentioned above, pushing just beyond 1446.44.  I’m closing my intra-day longs (again) here at 1447.


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