StockCharts Messages – 12/14/12
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MARKET MESSAGES
12/14/12 – THU
Since the low on 11/16/12, it looks like a 3 step count is complete on the upside. There is always a possibility that we could have a 5 count to the upside.
Best case corrective scenario: If a significant reversal took place on 11/16/12, we should have a normal correction, which would retrace about 50% of the advance. The advance would resume after the correction.
Best/Worst case corrective scenario: If the bottom on 11/16/12 was only step 4 down, we should have another step down (step 5) ending below the 11/16/12 low.
Worst case corrective scenario: The peak in September could be a completed 3 count in a larger 3 count dating from the March 2009 low. There is always the prospect that we have only completed step 1 down on 11/16/12. This would be part of a major downtrend that began in September.
I am loathe to embrace the bear market scenario at this time because the consequences are too grave for my tiny mind to comprehend. I thought 2008 was unbelievably bad and I believe the next bear market will be even worst as it will be the 3rd and last step down since the 2000 peak.
12-14-12 SP FUTURES 140 MIN BARS
These following uptrend lines should be penetrated if step 3 up is complete.
12-14-12 SP FUTURES 45 MIN BARS
The following is the 5 day EMA buy/sell system as can be seen in chart #30.4. The chart in 30.4 is the SPX while the chart below portrays the SP futures.
12-14-12 SP FUTURES 15 MIN BARS – 5 DAY EMA BUY/SELL SYSTEM
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Stock-Market-Observations 
December 15, 2012 at 11:43 PM
Thanks Bob lets see how it goes!
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December 15, 2012 at 7:02 PM
Hi Michael,
Check out the gold charts #20.6 and 20.7. I added Keltner bands to the daily and 60 minute charts. I hope this helps.
Bob
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December 15, 2012 at 11:59 AM
Sounds good.
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December 15, 2012 at 11:57 AM
Hi Michael,
Good idea, let me check that out. I’ll post a comment here if I make a change to my gold charts.
Bob
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December 15, 2012 at 11:50 AM
Ok Bob Thanks.
One other thing that I have been meaning to ask. I have tried trading Gold and Silver following a number a people. I have not made a dime yet. Since we are in a bull market in Gold and Terry thought it would last until 2020 is there any way to make charts like your charts 40.1,40.2,40.3 for Gold/Silver-would it work? I would think that if it could be done that trading on the up -side , also when this Bull ends to the downside, would be very lucrative. I just hate blindly following others it just does not seem to work for me.
Michael
PS if you need a contribution towards your membership(upgrade or not) let me know.
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December 15, 2012 at 11:41 AM
Hi Michael,
Don’t fix it if it ain’t broken. In other words forget about the 15 minute chart if you’ve been successful using the daily and 60 minute charts.
The 15 minute chart is just a closer look at the same thing (5 day EMA system). I find the bands on the SP futures is more accurate and useful. This is because it includes overnight trading in the futures avoiding gaps in trading. These are the charts that I post on the blog and are unavailable on StockCharts. It would be nice if StockCharts offered charts on the SP futures. I don’t think an upgrade in my membership would offer this feature.
Bob
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December 15, 2012 at 11:18 AM
We just posted at the same time LOL. More than fills the bill.
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December 15, 2012 at 11:15 AM
Thank you Sir you are a Gentleman and a Scholar, closes thing to Terry we have. Putting them all on the same page is a great idea! Now I have to figure how to assimilate that 15 minute chart into my trading.
Michael
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December 15, 2012 at 11:13 AM
Hi Michael,
Sorry about that. I remember that you rely on those charts. Check out charts #40.1, 40.2 and 40.3 and let me know if this fills the bill for you.
Thanks for the input,
Bob
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December 15, 2012 at 7:31 AM
Hi Bob- I noticed you changed chart 30.4. Would it be possible to fit the Bollinger Bands in with the SPX 15 minute chart? The BB are very useful in interrupting extremes in which to trade. I have been using charts 30.4 and 40.2 to trade-with some success. Appreciate you work!
Michael
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December 15, 2012 at 7:30 AM
Hi Bob- I noticed you changed chart 30.4. Would it be possible to fit the Bollinger Bands in with the SPX 15 minute chart? The BB are very useful in interrupting extremes in which to trade. I have been using 30.4 and 40.2 to trade with some success. Appreciate you work!
Michael
Focus274@comcast.net
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December 14, 2012 at 10:05 PM
Thanks for sharing Bob. Great stuff.
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December 14, 2012 at 5:30 PM
Bob, thanks for your posts I have always got a lot from them. Please keep up your good work!
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