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Monday, July 30, 2012

$SPY: Tomorrow morning a last attempt to the 139.33 Neckline ressistance?


As we are calling, from some days ago. The HS neckline,now at 139.33 could be a hard and invatible ressistance to price and today we call, a last attempt to break this ressistance, but it seems as tomorrow will be this last? push from bulls.

$AMRN: Wave 3,down, in play.


Our Sunday call was right and AMRN has start a "very hard" fall as a wave 3 is in play.



Sunday, July 29, 2012


Daily chart


We found this stock on the "heat map" from stocktwits.com and we find a very interesting trading opportunity because, first, it has a downfall from 1,400 to 0.44 on 8 years and now is on 13.51 a 3,000% grow in only 3 years. We think that the EW count is on a Primary wave 5,down and on a Intermediate wave 3,down,starting or very near, to start. IF we are right,this stock could go down,very hard again and after this, start a very big rally. We will check out closely this stock because is a grab trading opportunity.



$BAC: "Third EW rule" line, is been a mighty ressistance.


SPY and BAC have common battles. The first has a mighty ressistance in the HS neckline and BAC has it´s own battle with a mighty ressistance as the "Third EW rule" line.

$SPY:New attack to the neckline resistance.


Maybe, markets can attempt again to the resistance line (neckline), but there is a possibility that there is no more strengh. In case there is strengh, we have mark an target area for this rally?

$SPY: Markets preparing the downfall?


In this hour chart, we can watch how prices are pushing, again, to the neckline of the HS(indicated in last post) but with an,very, overbought condition in the MACD and starting to loose momentum. Markets, as always, need to confuse the participants, before a major move and we think this is the case.