- The markets are done correcting Price wise with the lows of 11/2/09.- The rhythm of "last week of the month" highs and "first week of the month" lows is still intact and it has delivered us 11/2/09 lows- Base formation is complete and we have broken through the Bear ... Read More
Tag: Smartp
25
Oct2009
On 9/14/09, in Market's Elephantine Memory, I had identified 2 significant resistance points 1060.8 (2004 low that launched a 3 year Bull into 2007) and 1105-1132 zone that in essence was the "market failure point". When markets bottomed in March 2009, I expected markets to reach the "market failure point" - ... Read More
October 25, 2009chanakya
19
Oct2009
Markets have been climbing the proverbial wall of worry ever since the lows of March 2009.
On every rise, Bears jump in to declare an imminent crash ahead and right then the market moves up linearly. The pattern being followed for past 8 months has been one of underlying Bull strength.
1st ... Read More
October 19, 2009chanakya
13
Sep2009
LAST WEEK'S REVIEW
- CIT wise the momentum was up and it proved accurate
- Price projection wise the expectation was to reach 1054.5 and the actual was 1048.18
PREFERRED SCENARIO
- Generally speaking a tepid week with an upward bias. Remember once again those bearish on markets were fried for the ESU9 contract ... Read More
September 13, 2009chanakya
02
Sep2009
This is from the T&C Live Chat Room on 8/27/09 at 2:47PM EST when Gold was on the 945-950 bar.
"
chanakya wrote:14:47:11 ‹chanakya› don't track gold that much but...it is about to break out to the upside from a year long wedge. measuring (not exact) close to $175, add to 950-960 ... Read More
September 2, 2009chanakya
14
Aug2009
We seem to be completing 4 Callipic round trips (4 * 19 days, 1 Callipic = 4 * 19 or 4 Metonics), that roughly traces back to the original 2008 crash point - an obvious retrace should follow. Did this as a validation for what I was seeing in Smartp ... Read More
August 14, 2009chanakya
09
Aug2009
Recap from 8/3/09 Post:
"After the current merry go around between 970-1005 is over (a potential spike on 8/6th (1015-1018)?) – the scenario is increasingly bearish for SPX – I think I can count close to 5 waves up since July Blow-off sans a minor ivth and vth."
- I was off ... Read More
August 9, 2009chanakya
08
Aug2009
OEX traders have a tendency to call tops with accuracy when they are pouring about twice as much money into calls as puts, which is the case right now:OEX $-weighted put/call @ Fri Aug 7 16:30:00 2009: 0.49 (calls: $15,450,700; puts: $7,602,179).QQQ $-weighted put/call @ Fri Aug 7 16:20:00 2009: 1.31 (calls: $5,731,420; puts: $7,532,570).Dollar volume ... Read More
August 8, 2009chanakya
19
Jul2009
The Analog has been holding up pretty well for months now, and that is surprising, because they say that as the sum total of collective knowledge of market participants approaches 1=TRUTH (from 0 = an Unknown), then it is no longer an "unknown" but a "known". Hence, theoretically it should ... Read More
July 19, 2009chanakya