nmike
Long

SPX long term Range Box Cloning analysis

INDEX:SPX   S&P 500 Index
1837 56 42
The long term quarterly chart continues to show positive candle stick price action.Since we don't have a previous high as reference for next target, I'm using a range box cloning technique for next target(s). Next target is about the 2055 area, I've also placed other arrows as possible moves going forward.Looking at the 2 back clones you'll see that many pivots coincide with clone boundaries, this gives reliability to forward (top) clones.
Cloning should be used with other tools for confirmation. Works well in conjunction with trend lines and Fib.levels.Also CLONE boundary targets don't have to be perfect, if you see a reversal candle pattern just above or below a CLONE boundary that's good enough.
Agree
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Continued monthly gains, 2013 to present ... Longest streak of monthly gains since 1995 to April 1998.
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Interesting method. How do you decide where to start? Meaning, how do you decide on those two pivot points contained in the reference box?
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nmike MOD MichaelRudelich
Hello, you can find basic rules and sample charts in commentaries here:
TSLA CLONING targets (daily)


sample chart:
WFC monthly CLONE analysis
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nmike MOD MichaelRudelich
...you can start anywhere on the chart, where you see major pivot levels and support/resistance, you can also have two sets of Clones and then look for confluence clone boundaries, the 2 points I chose were key support going back to 2005 and the high of 2007
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nmike MOD QuantitativeExhaustion
we could get something like this, a small correction then another up move a Fisher divergence and then down.
snapshot
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Yeah we've got a small correction going right now. Argentina default is big news. Questions will start arising regarding Brazil debt obligations as well.
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KevinT QuantitativeExhaustion
Isn't Brazil a whole different story? A Brazil is a growth country and Argentina has been in recession since the middle ages?
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Brazil growth is rapidly declining, much like China and India. Argentina is probably looking for a handout before they also join the BRICs. BRICs will not get a handout from the IMF. US, England, Australia, and EU (which possibly can turncoat on US/UK) group them part of a new economic axis.
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Yep! I agree on Ur chart and comments. It correspond well with at 4 wave now and the last 5th wave up - to end the run. Doesn't have to make more than just a slight higher high to complet the last wave
snapshot
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nmike MOD WallStScalper
....not an EW follower but thanks for your EW input.Here's @DanV EW chart
SP500 Bearish Outlook - Close to forming Generational Top
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........50% of mid clone 2 target Hit!
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Spinning top. Which way does it go?
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nmike MOD QuantitativeExhaustion
...spinning top was last quarter, current candle (close to completion) is suggesting further upside
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Much awaited quarterly chart that i have ever seen here! Still no sign of high wave spin for monthly or quarterly candle like last two tops!
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nmike MOD jangseohee
...indeed......quarterly Heiken Ashi
snapshot
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Steve Nison's Market update
https://www.youtube.com/watch?v=V545HJL1ELE&feature=youtu.be&list=UUKzpPuElFzfVKkqku-d6Q6Q
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Hi nmike, the yearly chart of SPX paints yet another bearish pattern (although a slight upside is possible)
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nmike MOD jangseohee
Hello!.......what bearish pattern? You have a pic?
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I do not have yearly chart here, i believe you can post it
include BB band
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jangseohee jangseohee
perhaps i m too early to say that
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nmike MOD jangseohee
.....yes too early, likely sign of a reversal if we get a much lower DPO bar, current candle stick action suggest further upside....of course if market sell off quickly the yearly chart will be too
snapshot
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late*
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understood, but gotta wait for a year :-)
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nmike MOD jangseohee
if it's a slow developing top then likely the yearly frame will give a reliable sell signal
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VERY reliable :-)
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thanks for yearly chart, but for the histogram to confirm lower, it would be like missing out of selling the top :-)
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nmike MOD jangseohee
yearly chart of Gold
snapshot
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Very nice!
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nmike MOD IvanLabrie
Thanks!
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IvanLabrie PRO jangseohee
I'd stop sell the low.
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jangseohee IvanLabrie
well we are still in the beginning of the year
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Messages not working.

What about VGK? This is the most traded Europe ETF in the US markets, options are also liquid. Seems money has rotated out of US plays, now longing USD and shorting currencies + commodities. I see the next rotation coming in EU. Do you have a chart of DAX or any other European market play?
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nmike MOD QuantitativeExhaustion
VGK currently below 34ma monthly, if completes like this expect further downside
snapshot
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It's looking like 38 area is most likely pit stop. We will surely find out later this month when ECB meets, Jan 21. Also Greece elections are having a negative effects on Euro.
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nmike MOD QuantitativeExhaustion
KEY trend line watch on DAX
snapshot
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SPX too! but is a short one
SPX, Immediate double support?
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nmike MOD jangseohee
...yes, looking at that one
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DAX, Glückliches Neues jahr!
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nmike MOD jangseohee
.....agree
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Yellen has passed the baton to Draghi, pressure on him now..
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Mike, when you draw trendline, you connect low to low or low to close for uptrend?
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IvanLabrie PRO jangseohee
Watching, interesting exchange here guys.
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nmike MOD IvanLabrie
:)
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nmike MOD jangseohee
low to low or high to high , and in case where there are clusters of lows or highs close together I use the average of lows or highs
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thanks
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Will probably test that support line.
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Fisher- Trix - 34ma system ---- quarterly view
snapshot


sample charts in commentaries
The FISHER-TRIX- 34ma system
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gotta wait until 31 March close!
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nmike MOD jangseohee
yes...of course but if markets turn down quickly will have to look at monthly or even weekly frames
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agreed, the longer the timeframe the more powerful the inertia if it builds up
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i really like yearly and quarterly chart (provided we have at least 10-20 years of data) + BB
post more thanks
in fact DJTA quarterly in Oct/Nov looks overbought!
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nmike MOD jangseohee
k :)
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...last quarter price held at near term support, bottom of Clone 2
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...once again quarterly candle managed to stay above near term support & back up to middle of Clone 2
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...Clone Hit!
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