Around the horn with major indices and currencies… Like SPX, most are at a threshold where they must either break down or break out (I think “break down,” but we’ll know soon enough.)
Coming up: VIX, RUT, COMP, NYA, NDX, DJIA, FTSE, SPX, DX, EURUSD, USDJPY, AUDUSD, CL, GC, SI. And, yes, I’m happy to take requests — first come, first served after the above are done.
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VIX
continued for members…
RUT
COMP
NYA
NDX
DJIA
FTSE 100
DX
SPX
EURUSD
USDJPY
AUDUSD
CL
GOLD
NFLX
SILVER
XLF
UPDATE: 4:00 PM
Another exciting day of indecision… down to the wire whether red or green. At least I’m all caught up on charting! I’ll update the forecast tomorrow or Sunday.
I wish everyone a great weekend.
Comments
14 responses to “Update on Everything: Jan 11, 2013”
or is it a crab pattern now? I am sorry for the multiple comments, I tried to edit my old ones but couldn’t…
It has the potential to be a Crab Pattern since there was a reversal on the 7th just shy of the .500 Fib. If it exceeds 1.3391, that would indicate a target of 1.3485-1.3498.
last night EUR went to 1.34, does that mean it will target 1.3485 already? that will be problematic for the dollar count wouldn’t it?
http://charts.stocktwits.net/production/original_11412135.png?1357917815
PW, is this a legit bat for EURUSD?
original_11412135.png
Here is a chart for fun. It shows a top today and down we go until Jan 31, bounce, then down again till Feb 13. It will correlate well with PW’s target.
http://4.bp.blogspot.com/-pIHl760c810/UN_cIOpcG0I/AAAAAAAAMKo/zHyCOFCQdP8/s1600/121230+SPX+2012+vs+1967+%5B04%5D.png
Nice, thanks for posting.
Hello PW,
Originally, the end of this week (Jan 11, Jan 12) was supposed to be the target for the analog to play out.
Suppose the analog is still alive, can you tell us the revised target date? (not necessarily an exact date, i.e. Mid Feb, or Mid March would be fine)
SPX reached 1474 in last September. It took 2 months to find a bottom on Nov 16. SPX reached 1470s yesterday. If it was a top, should we expect to wait 2 months for the bottom to reach.
Thanks!
I’ll definitely take a crack at updating it this weekend. But, nothing’s really changed since the last forecast update a week ago.
Have a good weekend
Any chance you can look at NFLX?
I’m no pebblewriter, but it looks nflx is finishing a pretty clean Crab Pattern up to $107.55.
thanks!
Just posted above. Pretty mature rising wedge and nudging up against the .618 of the slide from 133 to 52. Like everything else — either break out or (more likely) break down time.
Thank you! I appreciate the time and analysis. This is one of those stocks that, from an investment perspective, I just don’t get the valuation. I know it can be explained by harmonics and EW but I’m not skilled enough to trade it.