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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Wednesday, March 30, 2011

despite $rut made a new high, $indu was 8 points away against Feb 18's top,

i am still very bearish on $rut, $indu, $spx, $compq.
based on what i see on technicals(pitch fork, fibo, clouds, iso lines, non-confirmations...) and elliott wave and patterns. updated to members in the market close report.
i issued the bullish $spx 1425 target during mid March while $spx was at 1250. then i abandoned the bullish target three trading days ago. so far, i still hold on to my bearish analysis. but if i am wrong, still have much upside to make up and i have proposed the detailed bullish roadmap at $spx 1250 in many fronts, which now is my alternate.



PS. 1). i heard the professional newsletter ewi now is looking for new highs on $indu, $spx and $compq, their newly issued (today) $spx high target as 1380, totally reverse their extremely bearish call of 3 of 3 down for the past couple of weeks. i can not say they are wrong, but currently i am totally not in their bullish camp, and i use elliott wave also!