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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, June 8, 2011

$spx, $rut, $indu, $compq, $mid, eem (June 8, 2011) - i am bullish!

Jun 12: i just sent out membership weekend report.
this is the best quality report i have for 2011.
please let me know if you like to join the membership.

i am medium term bullish from here. potential summer rally.
today Jun 8, 2011:
$spx closed at 1279
$rut closed at 788
$indu closed at 12048
$compq closed at 2675
$mid closed at 941
eem closed at 47.1

charts "gradually" follow ...

for immediate analysis report w/o delay:

some members' update history:

3). Jun 9: i was selling at the exact rally top of 1294.5

2). i was bearish on May 31 ($spx bounced top at 1345) members' market update:

1). i was bearish on May 2 ($spx topped at 1370) members' market close update (text):

Jun 14:

Monday Jun 13 member market close update:
today's intraday micro term one more low (spx by 3 points) does not affect my view of the ... in the weekend report.
spx gapped up, but turned down at the mid red pitch fork and 38.2% typical wave 4 resistance.
then spx found support at the lower red pitch fork lines on both scales around 13:00 ET for the potential termination wave 5. then rose into the mid red pitch fork resistance again and retreated.
on MT base, $spx found support at the red trend line support, also within the vincinity of the green pitch fork and brown Fibo fan.
$spx, $indu, $rut all trading around the lower red pitch fork lines, and are too far away from the ... magnet.
$spx and $indu closed fractional higher, but $rut and $compq closed slightly lower. financials, an often market leading indicator, had outperforming the general market two days in a row.
$vix got rejected at 20 resistance for the third time since $spx topped on May 2, ...
i also updated DJI Super Cycle Trend Line, it's a very critical trend line for LT market direction.
PS. i am fully long at the market close on Monday 6/13.
PS. Bernanke recent speeches indicator: market tank after his speech on Jun 7. market pulled back after his speech today on Jun 14.

Jun 14 member market close update:
as updated during pre-market, Equity Put/Call ratio is at the most oversold level in over two years, this condition could indicate ...
market gapped up huge at the open, running all the way toward both $spx and $rut neckline, then pulled back from there after Bernanke speech.
$spx, $indu, $rut all closed around the 60m mid red pitch fork line, waiting for further ST direction.
$rut could be the MT ... pattern as in the weekend report.
today's volume green bars indicates major accumulations, which cancels out the major distribution day of red bars on last Friday Jun 10. both are around the neckline as resistance.
i have exit my long position close to the neckline ($spx 1290's) becuase i do not think today market will pass above the neckline and red mid pitch fork lines. ...
fear factor is in the extreme complacency zone,

Wed Jun 15 pre-market member update:i see market could be as yesterday special after market update. either make a new low, or re-test the low with deep retrace.
here i include late May 2010 as an example, which i successfully predicted (5 days ahead of time) on the blog two day down/up 100 $spx points swings.
now i took profits on my overnight short position, pre-market spx futures down about 10.
PS. i took profit on long position while $spx rally yesterday Jun 14 to 1290's.