Mark Lytle's Blog – November 2009 Archive (5)

Remember that the 17th and 18th were Fibonacci time points on the $SPX as called by Elliott Wave International..they may have worked...

Lets see if this decline proves more real and committed then some of the others....The $NDX Microtrendlines are still being followed faithfully...

Added by Mark Lytle on November 19, 2009 at 8:51pm — No Comments

$NDX Microtrendlines hold, Macro fail, reverse situation for $SPX

This chart shows how faithfully (so far) that the $NDX has respected it's 'micro' trendlines:

The $NDX 'Macro' trendlines, however are pretty close to being exceeded, and arguably, have failed:

For the $SPX, it's the reverse, the 'Micro' trendlines are currently this:

This price action is probably only slightly… Continue

Added by Mark Lytle on November 14, 2009 at 11:30am — 8 Comments

Exponential Trendlines and Nodes, seeds from 10/2002 through 10/2007 - $SPX

Haven't shown these for a while, these exponential trendlines are of a larger order and presumably more resilient then the micro trendlines I've been showing lately. These confirm the topping action suggested by other methods/ indicators. Note the .500 time node we happen to be at in the top chart... That's one of the important warnings in this system of trend change...…

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Added by Mark Lytle on November 10, 2009 at 6:30pm — 11 Comments

Russell 2000 non-confirmation with the Dow

The non-confirmation by the current top of the Russell 2000 compared to the Blue-Chip Dow industrials, shows that risk appetites are collapsing...

Added by Mark Lytle on November 10, 2009 at 1:19pm — 2 Comments

If we are forming the right shoulder of a head and shoulders pattern on both indexes, here are the micro_trendlines to watch....

On the $SPX the highlighted green trendline will be at 1074.72, tomorrow, and for the $NDX the highlighted orange trendline will be at 1727.02. Both trendlines will normally be exceeded slightly before they will stop an advance. If they are exceeded by too much, then obviously something totally different is happening, and the markets have apparently not really topped...…