Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Advanced Technical Analysis



Note: the following analysis is formulated as an assimilation of Fibonacci, DeMark, Elliott Wave and other technical indicators. It is offered as education and not intended as advice in any way.

Overnight futures spiked higher exceeding the important SPX 1171 level and putting in a new swing peak for this corrective bounce off the lows from the 24th. This bounce - so far - does nothing to change our view that this move sets the table for a move to the downside and ultimately will likely resolve in a swift move to new lows.

All last week we had cited the Fibonacci resistance areas of SPX 1176-1184, NDX 1516-1546, and INDU 10470-10540 as well as the open gaps left on the daily charts from SPX 1185 and NDX 1546. As long as the peaks from January 19th are not exceeded (they remain key stop levels based on the analysis) we will maintain our bearish view of this bounce from the 24th and look to position for a move to our lower targets in this bearish interpretation which remain "at least SPX 1140, NDX 1445, and INDU 10200" over the next several weeks.

< Previous
  • 1
Next >
No positions in stocks mentioned.

The informatio= n on this website solely reflects the analysis of or opinion about the perf= ormance of securities and financial markets by the writers whose articles a= ppear on the site. The views expressed by the writers are not necessarily t= he views of Minyanville Media, Inc. or members of its management. Nothing c= ontained on the website is intended to constitute a recommendation or advic= e addressed to an individual investor or category of investors to purchase,= sell or hold any security, or to take any action with respect to the prosp= ective movement of the securities markets or to solicit the purchase or sal= e of any security. Any investment decisions must be made by the reader eith= er individually or in consultation with his or her investment professional.= Minyanville writers and staff may trade or hold positions in securities th= at are discussed in articles appearing on the website. Writers of articles = are required to disclose whether they have a position in any stock or fund = discussed in an article, but are not permitted to disclose the size or dire= ction of the position. Nothing on this website is intended to solicit busin= ess of any kind for a writer's business or fund. Minyanville management= and staff as well as contributing writers will not respond to emails or ot= her communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.<= /p>

Featured Videos