tag:blogger.com,1999:blog-7085633745029925627.post3808806150321548776..comments2024-02-12T18:38:15.465-05:00Comments on Shanky's Technical Analysis and Market Commentary: A Few Bearish Observations And Some Other ThingsShankyhttp://www.blogger.com/profile/07202827468828896685noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7085633745029925627.post-60540170900120227502009-06-29T16:41:06.345-04:002009-06-29T16:41:06.345-04:00Schweizer....that trend line held damn good today....Schweizer....that trend line held damn good today. Looked like someone ran into it 20+ times today and got slapped down everytime. Interesting is that everytime we hot 924 area....a buy button was pushed and we went back up to 926-927 area. Great day indeed...<br /><br />-MichaelMichaelhttps://www.blogger.com/profile/14554780740197568589noreply@blogger.comtag:blogger.com,1999:blog-7085633745029925627.post-14754870282140963502009-06-29T06:56:32.171-04:002009-06-29T06:56:32.171-04:00Schweizer, I am tracking the same thing as well. ...Schweizer, I am tracking the same thing as well. Excellent chart. This week should show us sliding down that trend line or plummenting for the S&P.<br />There is not enough money to manipulate us thru that channel....IMHO.<br /><br />-MichaelMichaelhttps://www.blogger.com/profile/14554780740197568589noreply@blogger.comtag:blogger.com,1999:blog-7085633745029925627.post-48453481477035226642009-06-29T04:34:18.589-04:002009-06-29T04:34:18.589-04:00Here's an attempt to make the above charts int...Here's an attempt to make the above charts into links. Not sure this works with blogger, so this is a test:<br /><a href="http://i44.tinypic.com/2upqt8m.png" rel="nofollow">$XII Chart</a><br /><a href="http://i39.tinypic.com/10541s8.jpg" rel="nofollow">SPX Bear Channel</a>Schweizerhttps://www.blogger.com/profile/01587683787195196616noreply@blogger.comtag:blogger.com,1999:blog-7085633745029925627.post-11276615286357825622009-06-29T04:25:59.932-04:002009-06-29T04:25:59.932-04:00Yes, the end is near, but well, someone has to pro...Yes, the end is near, but well, someone has to provide charts to your readers to back it up, so here goes:<br /><br />http://i44.tinypic.com/2upqt8m.png<br /><br />The $XII {Institutional holdings Index) is at a critical point. It is signaling using a lot of solid TA clues that the washout phase is coming. Using the trendchannels and the A-B-C corrective pattern from the 2000 high, we've got a whopper coming. Notice how nicely the B wave retraced 61.8% of the A wave.<br /><br />The $XII is a higher quality index than the SPX because it represents stocks that most large institutions actually own. There are many stocks in the SP500 that institutions don't care to own for one reason or another.<br /><br />Here's the Bear Market Channel on the infamous SPX:<br />http://i39.tinypic.com/10541s8.jpg<br /><br />The SPX channel is dropping 1.2 points per calendar day (9.5 pts/week, 36 per month, 438/year), so if it holds, which they usually do until the 5th wave is in, then the next 6 months to a year will be epic.<br /><br />Glenn Neely, famed Elliot Wave guru, has the SPX at new lows by year end, matching the charts above, while several other so-called gurus have the SPX going to 1000 first. History and TA suggests the channel will hold.Schweizerhttps://www.blogger.com/profile/01587683787195196616noreply@blogger.com