Market Commentary 2Jan12

8/3/2019 Market Commentary 2Jan12

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Andys Technical Commentary__________________________________________________________________________________________________

S&P 500 ~ Year Ahead Look

( A )

w

x

y

This is my projected price action for 2012. The worlds political focus will turn to the U.S. Presidential Elections. The U.S. Stock Markethas held in very well during the upheaval/crisis facing Europe. The wave count suggests that situation will change in the year ahead.The market looks headed for another whipsaw/choppy year butthere should be a downward bias as the (C) wavebegins to take hold. One wonders what news might cause

the bear market? ( B )

z

x Important Top at 1345

a

b

c

d

e

SummerSwoon

during Presidential

uncertainty

a

b

Rally into election due

to greater certainty

( C )

The above bearish wave count is predicated on the

S&P 500 remaining below 1345. Any break of that

level would cause a recount.

a


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S&P 500 ~ Daily

The outline presented below is probably a better accounting of the price action. If theres a way for a wave to last longer,then its best to just assume it will. The chart pattern below also implies that this is NOT going to be a great market to beinvolved with as there will be tremendous opportunity to get chopped up up within this triangle.

( B )

x

z

e?

( C )

a-y-

-c-b?

c?-c-

-w-

-x-

-a-

-b-

d?

-a-

-b-

REPRINTED from 12/19/2011


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S&P 500 ~ Daily

The proposed c-wave within the triangle seems to have further to run. Its possible that it has alreadyconcluded but it would mean a very short -c- within c. Unlikely. Prime targets for the-c- wave would be1293 and 1311. 1293 would the 61.8% of a-wave and would look like a double top. 1311 would be thelower degree -a- =-c-. The implications are for a triangle with upward-sloping bias.

( B )

x

z

e?

( C )

a-y-

-c-

b?

c?-c-

-w-

-x-

-a-

-b-

d?

-a-

-b-


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S&P 500 ~ 120 min. Weekly Support and Resistance

For those traders who really cant stay away from the action, the following levels represent first and second points of support andresistance. If one were to point a gun to my head and say Make a trade right now that will make money in the next few days I would probably buy this market in front of 1196 and run a stop below that level.Fortunately, there is no gun to anyones head.A break below 1196 should cause the market to coast to 1158.

REPRINTED from 12/19/2011


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S&P 500 ~ 120 min. Weekly Support and Resistance

The first of level of support from the last report (12/19/11) held and the market bounced sharply.Maybe

someone should have been holding a gun to my head. Based on the shorter term wave count, this marketlooks headed higher to begin the new year. Traders who are long should consider 1228 as a stop for anylength. Thats the 61.8% retrace of the last move up from 1201--a break of 1228 would alter the very shortterm bullish wave count. I would be looking to sell short this market into the 1293-1311 zone. Seriousconsideration should also be given to selling short on a breakdown below 1228


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Apple Daily Chart

Very interesting pattern in Apple. Check out what looks to be a large scale head and shoulders formation with a double head.Whats really interesting is that a similar pattern appeared on a smaller scale in the first half the year.Fractals baby!

If history is any guide, Apple will get a vigorous test of the neckline

around $360/share. Any further advance in the stock price willstart to breakdown the look of the potential H&S development.

Left

Shoulder

Right

Shoulder

Double Head

RightShoulder?Left

Shoulder

Double Head


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DISCLAIMER WARNING DISCLAIMER WARNING DISCLAIMER

This report should not be interpreted as investment advice of any kind. Thisreport is technical commentary only. The author is NOT representing himselfas a CTA or CFA or Investment/Trading Advisor of any kind. This merelyreflects the authors interpretation of technical analysis. The author may ormay not trade in the markets discussed. The author may hold positionsopposite of what may by inferred by this report. The information contained in

this commentary is taken from sources the author believes to be reliable, butit is not guaranteed by the author as to the accuracy or completeness thereofand is sent to you for information purposes only. Commodity trading involvesrisk and is not for everyone.

Here is what the Commodity Futures Trading Commission (CFTC) has saidabout futures trading: Trading commodity futures and options is not foreveryone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Beforeyou invest any money in futures or options contracts, you should consider

your financial ex

perience, goals and financial resources, and know how muchyou can afford to lose above and beyond your initial payment to a broker. Youshould understand commodity futures and options contracts and yourobligations in entering into those contracts. You should understand yourexposure to risk and other aspects of trading by thoroughly reviewing the riskdisclosure documents your broker is required to give you.

Wave Symbology

"I" or "A" = Grand SupercycleI or A = Supercycleor = Cycle-I- or-A- = Primary(I) or (A) = Intermediate"1 or "a" = Minor1 or a = Minute

-1- or-a- = Minuette(1) or (a) = Sub-minuette[1] or [a] = Micro[.1] or [.a] = Sub-Micro

PLEASE NOTE THAT THERE IS ADDITIONAL INTRA-WEEK AND INTRA-

DAY DISCUSSION ON TECHNICAL ANALYSIS AND TRADING AT

TRADERS-ANONYMOUS.BLOGSPOT.COM

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Market Commentary 2Jan12