SPY reversed without hitting the high target, a
bearish reversal. The sell signal came on Friday and I apologize for not
sending it to the group.
There are no Near Impulse dates for next week so
my interpretation is for a prolonged down turn. If SPY closes below 124.24 it
will add evidence for more downside expectations. A minimum move expectation
is 140.77 with an extended move to 137.77.
At the beginning of the year I promised to report
the Pivot Trading forecast for SPY for the first quarter. This will be the
last post for that holiday gift. The performance of this methodology
continues to astound and I hope these posts have helped members capture
profits. If members would like more information on performance, please contact
me privately.
Best Regards and good trading.
Jim
----- Original Message -----
Sent: Thursday, March 22, 2007 9:00
AM
Subject: Re: [RT] SPY Forecast
No daily sell signal yet on SPY. Could come
tomorrow or Monday (Near Impulse date) Look for 14470 as the high of
this move.
Today's downturn is quite weak and should not
last the day.
Regards,
Jim
----- Original Message -----
Sent: Tuesday, March 20, 2007 2:09
PM
Subject: [RT] SPY Forecast
Tomorrow and Thursday are Near Impulse
forecast dates for SPY and most of the market indexes. These two
dates originate from opposite turning points, one from a previous low and
one from a previous high. Usually this indicates a very volatile two days
with mid-day turns. We are also at price levels which usually
terminate the shorter term correction in a longer term bear move. On the
positive side I did not get sell signals on today's activity for the
indexes or the 200 stocks I follow but tomorrow may yield a sell
signal after the Fed announcement.
This is an important two days in the future
development of the market. If we get through this without a major bearish
impulse and continue up to the bullish reversal areas, it bodes well for
the next few weeks. If, however, the reversal occurs , we could see
another major leg down. Short term traders be careful and position traders
should protect profits with stops.
Regards,
Jim White