So far so good on these calendar predictions. Again, the yellow/white lines will often hit on the last day of a leg or the first day of the next leg.
For the next turn, I couldn't quite narrow it down as to whether Monday, Tues, or Wed would be the first day up. I looked at the $SPX chart and couldn't quite decide whether the this leg would end at the 50ma (i.e. low came in Friday) or at the yellow downward sloping trend line (ending around 1420).
I decided by looking at the SPDR ETFs representing most of the S&P sectors. I think most of these charts are going to try to hit their blue trend trend lines, which would mean at least one more day bearish candle.
Whether the first bull candle occurs on Tues or Wed depends on how Monday goes.
Of course there's the possibility that I'm completely wrong and price just blasts down through all of this stuff like it doesn't exist. If that happens, I will totally jump on the bear train.
Saturday, October 20, 2012
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