Market just overreacted to backward looking news

The retrace was anticipated but not to this extend. However, now the channel is established and until 612 is violated to the down side and tomorrow's numbers are 632, 625 and 612. It is still treated as ABC corrective waves until otherwise.

2c

This is the anticipated pull back

but it should be shallow and quick. It could not hold above pivot 644 today. Tomorrow's numbers are 644, 641 and 635. The market should be higher in the next little while.

2c

Weekend Update

Here it is, just use channelling and CCI techniques you can see the the buy and sell points, noting the daily pivot numbers of course. It does not matter bear or bull market, as long as the up channel is not violated remain long. Don't believe in retest the lows, it is garbage. The retest has already been done, where it breaks out and is completed. You can see the trend is approx one to two months and this is no stress trading. You only trade 5/6 times in the past six months. Don't even look at the market. Too much information is not good and you won't be able to pull the trigger. Also forget about picking tops and bottoms. Nobody in the world can do that. Just think about getting 70% of each trend and your money would be doubled and tripled. Good luck folks.

2c

Yes it can do it

Like that little train going uphill. The weekly numbers are 655, 637 and 625. The daily numbers for Monday are 650, 644 and 641. Today it closed at 646. Can you imagine the picture? 641 or 644 are buy points and yes 660 is achievable. There may be a pullback sometime next week but it will not be below 635ish if uptrend is to be continued.

2c

Bravo..the shorts will crash and burn from here on..

To recap, completion of daily and weekly H&S all on targets and initial confirmation of bottom on Jan25 and now, today, the big confirmation of volatility index. The trend has finally turned and casted in stone. All shorts will be burnt. Buy on dip time. OEX 660 is in sight and depending it may even go further. Some videos from some gurus were still preaching doom on the DOW and they are charging an arm and a leg for subscribers. Oh boy, in any case, if any guru is still preaching down slide...get rid of them. Mind you, pullbacks are not downturns. Anyways pivots rock, today support at 626 and rocked all the way to 642 r1,just lovely. What a buying opportunity as indicated yesterday. Ok tomorrow, 652, 637 and 628.
GOOG news pulls itself down but I am sure it will rebound and rock with the market soon.

2c

Let's take a closer look

Fed cut rate by 50 bps and market rallied above r1 but fell back to s1 by the close. A volatile market indeed and obviously 644 or Dow 12500 is the first major resistance for the bulls to overcome. If you look at the weekly chart, the trend has turned up and there should be more upside according to the daily chart. The futures tonight do not look too promising. On the other hand if tomorrow's numbers (642, 636, and 626) are not violated. It may be a buying opportunity.

2c

Range narrowing again...

Yesterday's range was 15 points and tomorrow's is 7 and the numbers are 638, 634 and 631. This is an NR7 and breakout is imminent. If the Fed cut rate by 50 bps then a continual rally to about 644. If only a 25 bps is realised then a sell off. In either case, a pullback is anticipated in the very near future. It is better to stand aside and ride the trend as it develops and is not wise to front run it.

2c