StockCharts Messages – 12/19/12
- These messages are never edited from the original post. Warts and all are in plain view.
- Click on any picture or chart to enlarge it
MARKET MESSAGES
MERRY CHRISTMAS & HAPPY HOLIDAYS TO ALL
12-19-12 – FRI
I’ve been busy playing with my new toy, hence the sparse updates recently. I watch the passenger’s blood run out of their face when I go to wide open throttle. It’s awesomely FAST and scares me too. Wheeeeeeeeeeee.
Notice the ghost flames on the front of the car. They’re hard to see and you need to look closely.
Screamin Demon 1
Screamin Demon 2
Ghost flames are obvious in this picture.
Screamin Demon 11
Screamin Demon 6
Screamin Demon 7
Screamin Demon 9
This is one hellacious car. It recently appeared in the magazine “Muscle Mustangs and Fast Fords” and I was surprised to find it for sale shortly afterwards. This is the fastest car I’ve ever owned (10.8 in the 1/4 mile). Prior to this, my fastest was a ’68 Dodge Charger R/T (car in “Bullitt”).
—————————————————————————————
Bingo to Mike Burk in his comments on 12-15.
Tom McClellan said in his recent report:
Is It 1973 Again?
“The sideways 1970s was projected years ago to be repeated in the 2010s, and so far it looks like the market is generally follow- ing that script. The sideways period is not due to end until around 2022, and in the meantime it is a great period for market timers who can figure out how to buy low, sell high, and repeat. In the shorter term, stocks should be seen as topping now, then a sharp drop is due right at the end of December to a bottom due Jan. 3. The 8-month cycle bottom is due Jan. 15 to Feb. 4. That should bring a failing rally to a top in May 2013, then more damage.”
More info at The McClellan Market Report.
In the following charts there is the option to call this step 3 up or step 4 up. Smaller cap and NASDAQ are showing 3 steps up, while large cap is mostly saying we are in 4th step up.
Christmas is next Tuesday and I would expect the market to be asleep on Friday (maybe Thursday too) as most of the trading tycoons will take off for an extended Christmas holiday.
12-19-12 SP FUTURES 140 MIN BARS
12-19-12 SP FUTURES 50 MIN BARS
12-19-12 NASDAQ 80 MIN BARS
12-19-12 SOX 20 MIN BARS
The next two charts show that we have hit the upper limits of the envelope indicating that the best part of the advance is behind us.
12-19-12 SPX 60 MIN BARS
12-19-12 IND 60 MIN BARS
All Rights Reserved © ™
Explore posts in the same categories: UPDATE
Stock-Market-Observations 
December 21, 2012 at 11:10 AM
I hope Santa brings you a big bag of cash for Christmas.
Bob
LikeLike
December 21, 2012 at 11:01 AM
Happy holidays Bob.
LikeLike