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S.P. mini's: Closing Comments


Closing Comments:


To objectively perceive the market we must look at the following C/T

C/T 540 minute chart (from 9/1)

Pointing Up

Equalizer: 1011.50

Up Price Target: 1060.25

Down Price Target: 962.75

Extension:  to 1065.00


Short term (1 to 3 weeks)

1001.50 separates the market. Above 1001.50 we are bullish and reach 1079.00. Below 1001.50 we are bearish and reach 923.00 (maybe 911.25)


Intermediate term: (1 to 3 months)

952.50 separates the market. Above 952.50 we are bullish up to 1294.50. Below 952.50 we are bearish and down to 610.00

Right now we only concern ourselves with the short term.

Then we have this short term pattern

Complex running flat

Equalizer: 996.00

Up Price Target: 1027.25

Down Price Target: 968.00

Failure to reach 1027.25 takes us down to 1004.25


In addition we have a major turn (cycle) date on 9/9/09 from this pattern

I’m not sure what to expect on this turn date, but it appears to be a significant high.

RCT (from 10/10/08)

Equalizer: 952.50

Up Price Target: 1294.50

Down Price Target: 610.00

Due to this Major pattern we have a Ranger Count which is as such

228 pts - 114.00pts - 57pts - 28.50pts (the remainder of the numbers don’t factor out exactly)

Ranger Counts determine total price movement up and down, meaning how far the rally goes before retracing, or far the retracement reaches until we reverse back up.

The immediate up price Ranger count target is 1040.75


Short term

 last compression reading

Key Level: 1022.50/1022.75

Above key level:  up to 1032.50

Below Key level: down to 1012.25