Saturday, February 4, 2012

2/4/12 - Weekend Thoughts

Here's an update on a collection of longer term charts I have been tracking. Based on my interpretation, the bulls are still looking good. However, bulls should be keeping an eye on some near term resistance.

Have a great weekend!

SPX - PRIMARY DAILY
Intermediate (B) has met the minimum 90% retracement of (A). However, as you will see below, the bullish alternate is certainly worth watching.

SPX - WEEKLY 
A large cup and handle / inverted head and shoulders I have been tracking. Bulls may be taking a stab at the upper edge of the rim at 1370.

SPX - 3 PUSH PATTERN
A 3 push pattern I continue to track. Notice the channels and trendlines that have been overcome by the bulls.

SPX - MONTLY BOLLINGER BANDS
A montly MACD bulls cross and upper BB at 1421.

SPX - LT CHANNEL
More channels.
DJI-
The Industrials are just 13.77 points away from matching the 5/2011 high.


NDX
The Nasdaq 100 is leading the way.
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