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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 16, 2011

the market do-or-die depends on one line - Fukushima power line!

market survived the crash threat, but closed right near the all important lower pitch fork red line.
$spx potentially completed the triple zigzags correction.
$rut shows relative strength for the past 2 days, potentialy bottomed yesterday, and has a potential bullish inverted head and shoulder, ned to break above ther black neckline for more upside.
LT trend line and MT Fibo fan line support for $indu, $spx, $rut. both $indu and $spx brielfly below the supports, but closed right at the line, waiting for further confirmation. $rut stay above the support.
$cpc closed right above the bear mark, intraday spike was much higher.
$trin closed right at the line.
all at the critical levels, tomorrow is the decision point,
8:30am ET highly market correlated initial jobless claims could also be a clue.
it's a do or die situation.
tomorrow, if condition 1, bulls are dead going forward.
if condition 2, correction is completed, bears will suffer going forward.
trading plan for tomorrow updated to members.

earlier the market survived a crash today as continous monitor and extensive updated to members, it was very very close, only a line , a time away from a flash type as the t/a comparision charts show the setup. and right in time, at the exact same time, with the Japan new power line near completion to solve the crisis news to move the market straight up.
potential crash setup updated to members. the same one i used to catch the flash crash hours ahead of May 6, 2010's flash.
$rut relative strength in the past two days, also higher than yesterday's low, also is a non-confirmation of the market melt down.
looking forward...