Morning Notes 07/08/19-
Trading Environment-Short Term: Current Environment-Bearish
Hi Everyone,
Take a look at our free Market Timing Report-below in the profile section. Futures are down some this morning, but nothing crazy. The /es is trading below the 50-dma on the hourly chart, but above the 200-dma. There also bearish divergences in place as well as 5 complete waves. That could extend, but for now, there is 5 in place. All of this means, the risk on the long side is growing each day and some type of pullback, whether it be 100-200 or more spx points could be pending.
The SPX bulls have to get price back above 2994 to gain short term control as the bears have to push price below 2977 to get some momentum on their side, but would still need to push price below 2967 to gain short term control. Below 2967, we should see a reaction trade sown to 2956/2950. If the bulls can get above 2994, then we should see 3000 come into play. I still like 2800 as a potential downside target once a top is confirmed.
Today range for the spx 2994 high and 2977 low. A break of 2994 the SPX should try for the spx should try for 3000/3005. A push below 2977 we could see 2968/2956. G-
SPX CASH 60 minute technicals
Stochastics: Overbought
Divergences- Bearish Divergences
Resistance Levels: R1-2994 R2-3000 R3 3005
Support Levels: S1-2977 S2-2968 S3 2956
Trending Pivots: Neutral
BE SURE TO FOLLOW US SO YOU GET ALERTS ON ANY NEW MARKET TIMING INFORMATION WE PUT OUT!!
Can The Stock Market Be Predicted? Below are a series of predictions we made from September. Take a look and you will see, yes they can and nobody does it better than Woody Dorsey!
February 14, 2019:
Nominal tactical weakness has been due into 2/22. Now, to reiterate, “nominal tactical weakness” is not a “Sell” signal. It is just the timing profile. Again, as noted: “The Interim profile is still Bullish .” The December Low was excessive, and the rebound is becoming excessive too. If a corrective range is forming, another or, several 2-3 day declines may occur over the next two weeks. Now, the next nominal trading high is due near 4/10ish. That does not mean stocks are just going higher from here to there by any means. It makes the most tactical sense for stocks to correct or to become congested for a while. • Near Term Diagnosis: Sentiment is 83% Bullish today following a relatively rare 97% bullish yesterday. These are clearly cautionary. • Interim Term Diagnosis: The Interim Trend still allows for recovery rallies, by fits and starts, into at least early April or perhaps even into June.
10/16/18 Sentiment Timing Report: MARKET TIMING: A tactical trading low was ideally due last week and came in on 10/11 synchronous with the 0% Bullish . This week is messy with an upside bias due next week. Given the expansion of the range, it may all amount to not very much: “I still foresee a notable relief rally in November. That may be followed by more weakness than anyone expects into year end.” The code is for a nominal Recovery near 10/26 and, post-Election, engineer a decent upside episode into Thanksgiving followed by perhaps surprisingly robust downside in December. These codes may morph and become more, or less defined, so be aware of that. These are tricky times and “loco” maneuvers can occur.
09/13/18 Sentiment Timing Report: MARKET TIMING: A failure was expected in August. The expected correction is profiled to last into near 9/25ish but, “This Fall may see trading opportunities both ways.” How the market behaves into 9/25ish there will tell us all a great deal about the larger context. So far from the 8/29 High, there were 7 days down which have been followed by 5 days up. While it feels like the market is strong it really has been in a sideways price/time pattern. What fits best now is for another 6-8 day decline which would make it a somewhat symmetrical compound correction into the preferred low date. Under that pattern, today would be the last upside day.
Trading Environment-Short Term: Current Environment-Bearish
Hi Everyone,
Take a look at our free Market Timing Report-below in the profile section. Futures are down some this morning, but nothing crazy. The /es is trading below the 50-dma on the hourly chart, but above the 200-dma. There also bearish divergences in place as well as 5 complete waves. That could extend, but for now, there is 5 in place. All of this means, the risk on the long side is growing each day and some type of pullback, whether it be 100-200 or more spx points could be pending.
The SPX bulls have to get price back above 2994 to gain short term control as the bears have to push price below 2977 to get some momentum on their side, but would still need to push price below 2967 to gain short term control. Below 2967, we should see a reaction trade sown to 2956/2950. If the bulls can get above 2994, then we should see 3000 come into play. I still like 2800 as a potential downside target once a top is confirmed.
Today range for the spx 2994 high and 2977 low. A break of 2994 the SPX should try for the spx should try for 3000/3005. A push below 2977 we could see 2968/2956. G-
SPX CASH 60 minute technicals
Stochastics: Overbought
Divergences- Bearish Divergences
Resistance Levels: R1-2994 R2-3000 R3 3005
Support Levels: S1-2977 S2-2968 S3 2956
Trending Pivots: Neutral
BE SURE TO FOLLOW US SO YOU GET ALERTS ON ANY NEW MARKET TIMING INFORMATION WE PUT OUT!!
Can The Stock Market Be Predicted? Below are a series of predictions we made from September. Take a look and you will see, yes they can and nobody does it better than Woody Dorsey!
February 14, 2019:
Nominal tactical weakness has been due into 2/22. Now, to reiterate, “nominal tactical weakness” is not a “Sell” signal. It is just the timing profile. Again, as noted: “The Interim profile is still Bullish .” The December Low was excessive, and the rebound is becoming excessive too. If a corrective range is forming, another or, several 2-3 day declines may occur over the next two weeks. Now, the next nominal trading high is due near 4/10ish. That does not mean stocks are just going higher from here to there by any means. It makes the most tactical sense for stocks to correct or to become congested for a while. • Near Term Diagnosis: Sentiment is 83% Bullish today following a relatively rare 97% bullish yesterday. These are clearly cautionary. • Interim Term Diagnosis: The Interim Trend still allows for recovery rallies, by fits and starts, into at least early April or perhaps even into June.
10/16/18 Sentiment Timing Report: MARKET TIMING: A tactical trading low was ideally due last week and came in on 10/11 synchronous with the 0% Bullish . This week is messy with an upside bias due next week. Given the expansion of the range, it may all amount to not very much: “I still foresee a notable relief rally in November. That may be followed by more weakness than anyone expects into year end.” The code is for a nominal Recovery near 10/26 and, post-Election, engineer a decent upside episode into Thanksgiving followed by perhaps surprisingly robust downside in December. These codes may morph and become more, or less defined, so be aware of that. These are tricky times and “loco” maneuvers can occur.
09/13/18 Sentiment Timing Report: MARKET TIMING: A failure was expected in August. The expected correction is profiled to last into near 9/25ish but, “This Fall may see trading opportunities both ways.” How the market behaves into 9/25ish there will tell us all a great deal about the larger context. So far from the 8/29 High, there were 7 days down which have been followed by 5 days up. While it feels like the market is strong it really has been in a sideways price/time pattern. What fits best now is for another 6-8 day decline which would make it a somewhat symmetrical compound correction into the preferred low date. Under that pattern, today would be the last upside day.