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Andys Technical
Commentary__________________________________________________________________________________________________
S&P 500 ~ Daily
If a triangle does not develop for the z wave, then it will be a
diametric pattern that would look something like this,
anotheroutcome and reason for short term traders NOT to be heavily
involved.
x
( C )
a-y-
-c-b?
c?
-w-
-x-
-a-
-b-
d?
e?
f?
g?
( B )
z
REPRINTED from 12/19/2011
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Andys Technical
Commentary__________________________________________________________________________________________________
S&P 500 ~ 120 min. Weekly Support and Resistance
Ive made some slight adjustments to weekly resistance and
support. The market exhibited
some signs of peaking action on Friday, but well need to see
some follow through on Tuesdayto confirm the topping action. A
break of 1274 would cause me to sell short and shouldcertainly stop
out traders who are holding length. 1274 is the 23.6% of the move
up from 1200and aligns well with previous chart support.
Alternatively, I will sell this market short between1297 and 1311
if we get to that zone. I will risk 20% of Max Short on either one
of these tradesif they get triggered.
REPRINTED from 1/16/2012
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Andys Technical
Commentary__________________________________________________________________________________________________
S&P 500 ~ Daily with Weekly Support and Resistance
My attempt to short this market did not last that long. I only
see one goodresistance point at this point, the 1347 level--the
point at which themarket really collapsed last year. Bulls should
monitor the channel aswell at the 23.6% retracement at 1289. At
present, Im short-term neutralthis market and would look to short
only on a break below 1288.
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Andys Technical
Commentary__________________________________________________________________________________________________
Gold - Daily Continuation
The gold market continues to reward those carrying length.
Though, its becoming clearer now that that moveis corrective in
nature (choppy channeling higher). Im raising stops for longs: 1632
is the 23.6% of theentire bounce an it aligns pretty well with
classic chart support. Ive also highlighted here the 38.2% retrace
ofthe entire move lower--it seems like the market is feeling that
level and slowing down a bit in front of it. From
a triangle development perspective, however, the $1,692 would be
a nice target as the 61.8% of b-wave.
a
b
c
d
e
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