cthruu's Blog at Blocks.com

GS breakdown

Friday, November 27, 2009 6:21 PM breakdown Head and Shoulder

I had posted GS H&S developing pattern on another forum earlier. Today it followed through.The pattern measures to around 143; which is 200 day MA. More...

RUT: A double H&S top

Friday, November 27, 2009 6:14 PM Head and Shoulder Trend reversal

This has now made a classic double head and shoulder top, and a break from the right shoulder. Notice significant negative divergence in TSV - the volume on right shoulder gave up. So did OBV, and the Money stream has made a negative divergence.I expect this to follow through.We will see :) More...

Musings on Markets - Market internals

Saturday, November 14, 2009 10:53 AM Trend reversal

I posted charts a couple of sessions ago on another forum and thought the markets are setting up at least a near term topping patterns.Subsequently SP has made an evening star, followed by a bearish engulfing stick. The Friday's move up still keeps the market below Thursday high - I see it as noise. The McClellan Oscillator is flashing a negative divergence on this last move up. The Summation Index is trying to turn up, but the divergence is quite pronounced - quite a bit more than the oscilla More...

Gold

Saturday, October 10, 2009 3:22 AM Elliott Waves Breakout Cup and handle

Way back in May GLD made a cup and handle setup which I posted. Subsequently it consolidated for three months and this month it broke out of the pattern.Now that gold has made new high, I believe 1000 becomes a new floor. The pattern will project to around 1300, my next target is 1220-1250 zone. Another view. This is a 3rd wave now in progress which projects to around 1220-1250 zone. Holding a boat load of UGL. Looking at these charts I will continue to hold, I may even pyramid More...

KWT: Ichimoku Buy Signal

Sunday, September 20, 2009 3:14 PM Breakout

The market is peeking above the cloud; chikou span is crossing up, so is kijun crossing the tenken sen.May be some ichimoku experts will comment on this. :) More...

XLF: Ichimoku buy signal

Sunday, September 20, 2009 1:57 PM Trend continuation

Continuing buy signal is in place: can add to existing position in FAS here. More...

Musings on an indicator: T2107

Sunday, September 20, 2009 12:57 PM T2

Worden describes this as an overbought/oversold indicator. However I looked at this from a different perspective:Could this be a leading indicator for a future trend in the market? I think it can.Looking back at 1989, 1991, 1995 and 2003 I noticed a thrust in the #of stocks above 200 day MA, thrusting into 70-80% range from under 25% or so. The broader markets subsequently took off for several months.Conversely it thrust down in 87, 2000 and 2001. In 2007-2008 this led the broader markets down. More...

SP: update and next target

Friday, September 18, 2009 1:09 AM Follow through Trend continuation

A view from below. 0.618 retracement is at 1228; measured move from inverse H&S projects to 1246. That is also the next intermediate high and next target for this wave. The wave counts are dynamic. On this weekly chart 0.618 retracement is not too far off. As the market moves up, chances of a successful move into 5th wave down have significantly diminished. Over the weekend I posted a whole bunch of sectors making breakout moves again. It is just like the charts posted in April. I think thi More...

Update: SP. Target made. Again.

Thursday, September 17, 2009 2:57 AM Wave counts Trend continuation Elliott Waves

Target of 1060 was called for about a month ago, when the market broke up from the shoulder.http://cthruu.blocks.com/post/6662The target is made today.The indicators are suggesting that this rally will continue. Next 1:1 extension of wave 1-3 is at 1160. More...

Update: FAS. Target made.

Thursday, September 17, 2009 2:46 AM Trend continuation Breakout

Back in April the chart called for a target of around 16.75-17 area.http://cthruu.blocks.com/post/4736With 1:5 reverse split that would measure to around 87. The target was made today.Now, this is a melt up and I expect FAS to continue higher. More...

cthruu's Financial Blog and Trade Journal