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This is my projected price action for 2012. The worlds political focus will turn to the U.S. Presidential Elections. The U.S. Stock Market has held in very well during the upheaval/crisis facing Europe. The wave count suggests that situation will change in the year ahead. The market looks headed for another whipsaw/choppy year but there should be a downward bias as the (C) wave Important Top at 1345 x begins to take hold. One wonders what news might cause the bear market?
a c
(B) z
e
w
b
y x
a
Summer Swoon during Presidential uncertainty
a (C)
The above bearish wave count is predicated on the S&P 500 remaining below 1345. Any break of that level would cause a recount.
(A)
Andys Technical Commentary__________________________________________________________________________________________________
c?
-c-
(B) z e?
-w-a-x-
-b-
d?
-c-
b?
(C)
x
Andys Technical Commentary__________________________________________________________________________________________________
a
-y-a-
(B) z e?
-b-
-w-a-x-b-
-c-
d?
b?
(C)
The first of level of support from the last report (12/19/11) held and the market bounced sharply. Maybe someone should have been holding a gun to my head. Based on the shorter term wave count, this market looks headed higher to begin the new year. Traders who are long should consider 1228 as a stop for any length. Thats the 61.8% retrace of the last move up from 1201--a break of 1228 would alter the very short term bullish wave count. I would be looking to sell short this market into the 1293-1311 zone. Serious consideration should also be given to selling short on a breakdown below 1228
Left Shoulder
Double Head
Left Shoulder
Right Shoulder
PLEASE NOTE THAT THERE IS ADDITIONAL INTRA-WEEK AND INTRADAY DISCUSSION ON TECHNICAL ANALYSIS AND TRADING AT TRADERS-ANONYMOUS.BLOGSPOT.COM
Wave Symbology "I" or "A" I or A <I>or <A> -I- or -A(I) or (A) "1 or "a" 1 or a -1- or -a(1) or (a) [1] or [a] [.1] or [.a] = Grand Supercycle = Supercycle = Cycle = Primary = Intermediate = Minor = Minute = Minuette = Sub-minuette = Micro = Sub-Micro
This report should not be interpreted as investment advice of any kind. This report is technical commentary only. The author is NOT representing himself as a CTA or CFA or Investment/Trading Advisor of any kind. This merely reflects the authors interpretation of technical analysis. The author may or may not trade in the markets discussed. The author may hold positions opposite of what may by inferred by this report. The information contained in this commentary is taken from sources the author believes to be reliable, but it is not guaranteed by the author as to the accuracy or completeness thereof and is sent to you for information purposes only. Commodity trading involves risk and is not for everyone. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading: Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.