October 25, 2010

Morning Post, SPX, S&P 500, e-mini

$TRAN daily - the wedges may make more sense if they are drawn from the early August highs and not the intermediate top in mid-August. It does not make much difference. Looks like a topping 3rd wave. Scary pullback and then one last short squeeze before implosion?

30m comparison chart - Financials on their normal spot lagging a rising market. 

1m Comparison - everyone is on the same page now.


SPX 30m - I'm not seeing anything that says buy in this chart. Divergences are set for a sell off, but they are not uniform which botehrs me some.The red diagonal has been a good overthrow indicator for some time now. Possible completed purple wedge. If trend holds SPX should continue to pull back here.

Possible inverted HnS on the AUD/JPY targeting the resistance area near $81.50. USD is at support (for now).

More in the morning. Everyone say happy b-day to me and go vote on SC.

Minis spike to new highs as dollar flash crashes to 74 (and all by midnight!)
Dollar Friday after the close.