Seeking Alpha

Jeff Pierce's  Instablog

Jeff Pierce
Send Message
I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
My blog:
  • S&P Has Topped For This Daily Cycle 0 comments
    Aug 1, 2014 10:04 AM

    By Poly

    This is an excerpt from this week's premium update from the The Financial Tap, which is dedicated to helping people learn to grow into successful investors by providing cycle research on multiple markets delivered twice weekly. Now offering monthly & quarterly subscriptions with 30 day refund. Promo code ZEN saves 10%.

    The S&P has been invincible of late, but I believe its days are now numbered. Of course, I'm talking strictly about this current Daily Cycle only, as we all know too well that the longer term trend is in a runaway or parabolic like state. In fact, I'm confident that the S&P has already topped for this Daily Cycle, in theory having spent the past 2 weeks consolidating via a sideways and narrow trading range.

    Already onto Day 34 of the Cycle, just 6 sessions away from a standard DCL, the S&P has managed to hover around the all-time high levels, while the asset moves closer towards oversold levels. It is interesting how it can do that, time and time again, to remain near record highs while the technical indicators clearly show the S&P moving towards a Cycle Low. Because this is yet another strong Right Translated Daily Cycle, we have to somewhat ignore the stretched (in terms of length) nature of the Investor & Yearly Cycles and go on to say that I expect yet another all-time high (above 2,000) in the next Daily Cycle.

    But before the S&P sees 2,000, we should expect a move lower first, a fast drop over the next 4-7 sessions to mark the next DCL. But yet again, the bears will be drawn in by the allure of a potential major top, only to be fleeced as the DCL becomes yet another "buy the dip" event. Of course, it can't and will not last indefinitely, contrary to what many now want to believe. The next buy the dip event could well be the last for some time, as the next DC leads the S&P over 2,000 and towards a final spike for this great Yearly Cycle.

    (click to enlarge)

    Related Posts:

    Few Believe Gold Can Shine

    Disregard Fundamentals In The Short Term

    Cycle Counts For US Dollar

    Themes: SPX
Back To Jeff Pierce's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.