1/14/2009 9:31:25 PM
Support Test on the Qs
Stock Barometer Analysis
The Qs moved down to our support level, leaving us in Buy Support Mode. I'll go into more detail on this with my chart of the Qs below. It"s difficult to see "support" on the chart above which uses the close only.
The Stock Barometer is my proprietary market timing system. The direction, slope and level of the Stock Barometer determine our outlook. For example, if the barometer line is moving down, we are in Sell Mode. A Buy or Sell Signal is triggered when the indicator clearly changes direction. Trend and support can override the barometer signals.
Day Trading Edge - with Paul Soo
Join a professional Day Trader as he navigates you through 2 to 10 trades per day
Stock Barometer Cycle Time
Tomorrow is day 34 in our Down Cycle.
The Stock Barometer signals follow 5, 8, 13, 21 and sometimes 34 day Fibonacci cycles that balance with 'normal' market cycles. Knowing where you are in the current market cycle is important in deciding how long you expect to maintain a position.
The Advantage Report - with Angelo Campione
S&P and Nasdaq Market timing advice for only $10.95/month
Potential Cycle Reversal Dates
2009 Potential Reversal Dates: 1/20, 2/11. We publish these dates up to 2 months in advance.
Wrong Answer. I was looking for a move higher into 1/20. Unfortunately that's now obviously unlikely. I'll discuss what I'd like to see happen in the next few days below.
My Additional timing work is based on numerous cycles and has resulted in the above potential reversal dates. These are not to be confused with the barometer signals or cycle times. However, due to their past accuracy I post the dates here.
2008 Potential Reversal Dates: 12/31, 1/11, 2/1, 2/13, 3/6, 4/5, 4/22, 5/23, 6/6, 6/27, 7/13, 9/2, 10/3, 10/22, 11/10, 12/11. 2007 Potential Reversal Dates: 1/10, 1/14, 1/27, 1/31, 2/3, 2/17, 3/10, 3/24, 4/21, 5/6, 6/15, 8/29, 10/19, 11/29, 12/13, 12/23, 12/31, 1/11/08. 2006 potential reversal dates: 1/16, 1/30, 2/25, 3/19, 4/8, 5/8, 5/19, 6/6(20), 7/24, 8/20, 8/29, 9/15, 10/11, 11/28. 2005 Potential reversal dates: 12/27, 1/25, 2/16, 3/4, 3/14, 3/29, 4/5, 4/19, 5/2, 6/3, 6/10, 7/13, 7/28, 8/12, 8/30-31, 9/22, 10/4, 11/15, 11/20, 12/16.
Patrice V. Johnson"s - J.E.D.I. Trader
Stocks, Options and Options on futures advisory service (up over 100% in 2008).
Use the following spread/momentum indicators to assist in your trading of the QQQQ, GLD, USD, USO and TLT. They are tuned to deliver signals in line with the Stock Barometer and we use them only in determining our overall outlook for the market and for pinpointing market reversals. The level, direction, and position to the zero line are keys in these indicators. For example, direction determines mode and a buy signal 'above zero' is more bullish than a buy signal 'below zero'.
QQQQ Spread Indicator (NASDAQ:QQQQ)
The QQQQ Spread Indicator will yield its own buy and sell signals that may be different from the Stock Barometer. It's meant to give us an idea of the next turn in the market.
Gold Spread Indicator (AMEX:GLD)
Want to trade Gold? Use our signals with the Gold ETF AMEX:GLD. Gold gives us a general gage to the overall health of the US Economy and the markets.
Bill West"s Fat Pitch ETF Advisory
ETF Advisor trades a diversified portfolio of the hottest Exchange Traded Funds.
US Dollar Index Spread Indicator (INDEX:DXY)
Want to trade the US Dollar? Use our signals with the Power Shares AMEX:UUP: US Dollar Index Bullish Fund and AMEX:UDN: US Dollar Index Bearish Fund.
The McMillan Portfolio ($18.95/Month)
Get specific advice to manage a portfolio of Stocks and Options
Bonds Spread Indicator (AMEX:TLT)
Want to trade Bonds? Use our signals with Lehman"s 20 year ETF AMEX:TLT. The direction of bonds has an impact on the stock market. Normally, as bonds go down, stocks will go up and as bonds go up, stocks will go down.
Stock Options Speculator
SOS recommends very aggressive stock options plays that target >100% gains.
OIL Spread Indicator (AMEX:USO)
Want to trade OIL? Use our signals with AMEX:USO, the OIL ETF. We look at the price of oil as its level and direction has an impact on the stock market.
Angelo Campione"s Advantage Credit Spreads ($49.95/month)
Using Options to Target Consistent & Conservative Profits - up over 100% in 2007!
Supporting Secondary Indicator
We daily monitor hundreds of popular and proprietary technical indicators that break down market internals, sentiment and money flow to give us unique insight into the market. We feature at least one here each day in support of our current outlook.
The McMillan Letter ($8.95/Month)
Join Analyst Mark McMillan as he identifies current opportunities
Summary of Daily Outlook
We remain in Buy Support Mode.
We were looking for the market to move higher into 1/20 - the inauguration - in a buy the rumor, sell the news type of rally. However, as each day this week progressed, it proved us wrong.
That being said, this Friday is options expiration. Expirations often align with reversals. And the following Monday is a trading holiday (and I'd love a day off), followed by the Inauguration on Tuesday. And Tuesday is also the 20th, our next key reversal date.
So I see it like this. Preferably a hirami type day on Thursday. A nothing day on Friday. Holiday on Monday and the bounce on the Inauguration.
The extent of the bounce is the next issue. But we'll cross that when we get there.
If you have any questions or comments, email me at Jay@stockbarometer.com.
Stock Barometer Premier Membership
Receive the Daily Stock Barometer, Stock Options Speculator, QQQQ/Rydex Trader, Fat Pitch ETF Advisory & Explosive Stock Alert all for one low price.
Earn Money referring us to your friends, family and other traders. Click here for details.