- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
- This blog has a copy of all header posts that I publish anywhere, so that those interested in seeing what my thoughts are on the markets can find them easily.
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- The charts in the posts are as large as I can practically make them. if you would like to look at one more closely, click on it, and the link will take you to a larger version at screencast. If you click on that again, you will get a full page version, and can use the resizing function on your browser to enlarge parts of interest further.

Wednesday, 24 December 2014

Stub Day

SPX made a new all time high yesterday, so the stats I posted a month or so ago for what had happened in the past after big 5 DMA bull runs have now all played out, with everything within the expected ranges. This is a good illustration of why it's often worth crunching some numbers after a rare setup like the all time record run in November of consecutive daily closes above the 5 DMA. The last small thing to take away from the chart below is that I would expect a minimum of two more daily closes above the 5 DMA, which should be over 2070 SPX by the close on Friday. SPX daily 5 DMA chart:
The stats for the last two days have been historically very bullish, but that's not the case today. If we see some weakness, and we might, then I have a target trendline in the 2070 SPX area at the open today, rising to about 2075 by the early close. SPX 15min chart:
Apologies for the late post today. I've been out doing the last of my Xmas shopping. Everyone have a great Xmas/Hanukkah/Holiday and my next post will be on Friday morning. :-)

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