S-Fund: A TA Short Term Outlook

[The_Technician]

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I've been looking at that and I believe we're on the way up from here....market really turned head quickly and I believe we are racing for a peak by first week of Jan at this point.....that brings up next year and what should we expect....

Keep those oil guys gooed up!

:^

 

[Soldat]

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I concur, except that we will peak before Jan 1.

 

[The_Technician]

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Geesssss, :' I just discovered one of my calculations given the percentage gain of the funds on the daily basis was incorrect.....it only mattered on the percentages of gains and losses....but still....man this . Boy I get a thumbs down on this one....:Uand maybe a dunce hat too :dah:.

All the level predictions on the indexs were not affected ....

So much for new software development .....I'm just beta testing away.....:h

At least the directional/date predictions were not affected.....:i

I'll just keep my mouth shut some until things work out a bit more.....
:dude:

 

[The_Technician]

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Looks we should just take a one or two day hiatus here and then move on from here....We're probably two to threeweeks away from something happening to end all this...

Looking forward to more gains for the time being...

:dude:

 

[robo]

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Technician wrote:

Looks we should just take a one or two day hiatus here and then move on from here

I agree with your outlook.... Closed out some long positions Friday.... I'm not willing to short the market here, but we could head to the low 1250's.....If 1245 fails the bulls will have trouble with new highs, but still doable.... I have been selling into all rallies above 1260.... 1280's will be tough until after the 15th.... Closed out most long postions until the market decides....

Lots of computer software signaled sell today.... We could easily see 2 more days of sideway and down action..... Maybe a rally by the end of the week...

Comments from a Tech Sunday:

I'm confident that we'll close the year pretty well, which suggests to me that we need a pullback of some sort first. Since options expiration is coming, the best time to look for a pullback will be this week, which will allow the options guys to get positioned for the following week. This scenario would also probably complete an a-b-c correction on the S&P. I guess is that it will happen pretty quickly, too. My call is going to be for a flattish start to the week and then a decline into Wednesday and then a sharp reversal. My opinion will change, however, if I don't see pessimism rise quickly on any decline. I'll probably look to buy any pullback, especially if it comes early in the week. Remember, it's still likely that we'll see significant strength before this trend is over.

 

[The_Technician]

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I sort of expected the correction yesterday....but I didn't put a lot of value into it seeing the upward pressure on the market is extreme at the moment...(meaning they are squeezing every drop of juice out of this fruit they can) I figured we would get it but it wouldn't last more than a day or two......I believe Soldat mentioned it last week, so I'm not the only one who saw it coming.....

also

I completed an Elliotwave breakdown on the Wilshire and S&P data for Dec.....it looks like we could experience two possible highs on or about the 14th of Dec or on the 4th of Jan.....I'm looking for anything above 565 on the Wilshire and 1270-1285 on the S&P 500....if those levels are reached I expect a sudden pullback....I haven't processed data on how much of a pull back.....but I can say this if you haven't already figured this out...looks like we could be at an end of the run.....meaning a correction is possible.....seeing how things are going economically, anything could happen....if we continue to get good trends in enabling the economic engine to run then we could run but if we get anything other then expect a correction.....

I'm expecting a sell off in 2006 just for tax purposes.....

:dude:

 

[FUTURESTRADER]

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is wilshire 4500 going to hold triple support of 544???

 

[The_Technician]

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I don't think so and I believe by end of next week we should see a break

:dude: