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