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The markets reacted as predicted on Monday ,
confirming the low pivot.Almost all the stocks indicating a TEN BUY condition
gave profit opportunities on Monday.
On Tuesday, negative information hit the market
causing a one day down reaction. Long positions held over night were probably
stopped out on Tuesday.
Today the advance continued and the early morning
bullish bias allowed us to get on board early.11 of 12 stocks with TEN BUY
conditions ended the day with profits
You will note that I identified 10/1 and 10/3 as
additional reversal dates this week so the advance today was expected as we
adjust our expectations to what the market tells us.
I now expect the advance to continue with Friday or
Monday as the most likely reversal dates.
The TEN's system continues to identify
profitable trade opportunities for the agile trader. The reliability
factor continues to be above 80%. I hope some of you have been able to profit
from this information.
Another note: The free forecast on my web site for
the Fourth quarter will be the Japanese YEN.It may not be posted yet so it is
attached .
Jim WhitePivotTrader.comHome of the Near
Impulse Forecaster
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Jim
White
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, September 28, 2003 9:44
AM
Subject: Re: [RT] Monday
Yesterday I noted that all three major stock
indexes were in a TEN buy condition indicating an up movement likely for
Monday. Today I will expand the analysis to put this in
perspective.
All three indexes (DJIA, S&P500 and Nasdaq)
share common structural characteristics and Near Impulse dates so I will
summarize for all three.
On a monthly basis all three appear to be
completing part of a bearish Elliott Wave structure from the March 2000 top.
The S&P and NAZ appear to be completing a Wave 4 up move of 6-7 months.
The DJIA is more ragged and could be in a Wave 4 or a C move. All three are
within the monthly Near Impulse reversal forecast window and giving sell
signals. The next NI forecast date is November, 2003
So, in summary, on a monthly basis all
indexes are in an up trend within a larger bear market decline but signaling a
monthly reversal. A monthly reversal should carry the DOW to the 73-7400
level, and the S&P to the 800 level.
On a weekly basis all three indexes reversed
their 5-6 week up trend and confirmed the high weekly pivot. The next weekly
Near Impulse forecast is for the week of 10/24/03 so I expect downward
movement into this time frame.
On a daily basis, yesterdays post indicated that
all indexes were in a buy condition, sharing a Near Impulse forecast date of
9/26. Three things can happen at these dates, depending on new impulses
hitting the markets. In most cases, with positive information to work on,
the markets will reverse. That is the most probable outcome. If new
information hits the markets supporting the current (down) trend condition.
the markets will accelerate in that direction. If no new impulses hit the
markets, a sideways movement could result.
The indexes also share forecast dates of 10/1 and
10/3 so my interpretation is that we get a short upward reversal into mid-week
with another high pivot and downward reversal carrying to new weekly
lows.
In PivotTrading, we do not enter positions until
some confirmation of the pivot is exhibited. Trading above Friday's highs will
be the first indication.
Hope this helps in understanding the
analysis.
Jim WhitePivotTrader.comHome of the Near
Impulse Forecaster
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Jim
White
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx ;
<A title=gannsghost@xxxxxxxxxxxxxxx
href="">gannsghost@xxxxxxxxxxxxxxx
Sent: Saturday, September 27, 2003
12:02 PM
Subject: [RT] Monday
I have a TEN buy condition for all major indexes for
Monday.Ten buys occurwhen we have a Near Impulse forecast combined with
the market at the bottomof a channel and a %R buy signal. There is a
high probability of an up weekwith another reversal on Thursday or
Friday.Jim WhitePivotTrader.comHome of the Near Impulse
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Attachment:
TpfORECAST4TH Quarter, 2003.doc
Attachment:
Description: "Description: MS-Word document"
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