Weekly Stock Charts [Box Theory]

Jonathan Parsons Rank: 88 Followers: 7 Votes: 2 Years Member: 11 Last Update: 20 October 2014, 7:53 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Oct 8th 7:50A: We got the lower low, but we're coming down too fast + hard right now. We need to see some mild distribution or a major accumulation day to signal that the turn is in. My long-term stance is still bullish, but we're seeing more technical damage to the charts than we have in a long, long time. However, markets don't just go from all-time highs straight into oblivion. There's always a lower high on the weekly first. That means that we should at least get a major bounce (even if don't make new all-time highs). That's the most likely outcome in my opinion over the next month or so. Very short-term, we could certainly touch 1900 or the 200-day in the next week or 2. Good luck all. Sept 24th 7A: It's interesting to me that all the traders saying that everything looks 'stellar' 5 days ago are now in the doom & gloom camp. My take is that we're still in a sideways trading range. There's some divergences on the charts, but you have leaders like GPRO & FB banging on new highs. As long as the leaders keep pushing new highs, that's a very positive sign. It's a seasonally weak time of year & we're seeing some weakness. That happens in bull markets. We could go down 5+%. Ideally, we'll undercut the 1978 low, former a lower low, allow for some positive divergences to replace the negative ones & rip higher. That's been the pattern all year. The indexes get just ugly enough for all the bears to say, 'this is it! she's going down 20%!' and then we get this vicious V-shaped move up followed by a slow grind higher which is based, in part, on squeezing all of those same bears out. My indicators say we're still in a S&P500 bull market, so I'm sticking with that thesis until it changes. Good luck all.



$ Bullish Stock Screen Results

$ SPX0 - Monthly Overview

$ SPX1 - Weekly

$ SPX2 - $TRIN

$ SPX2a - Daily Heikin-Ashi, 900

$ SPX2b - Accumulation/Distribution

$ SPX3 - Daily

$ SPX5 - 30 min

$ SPX6 - 15 min

This information is presented for education purposes only. StockCharts.com is not responsible for any comments, advice, or annotations presented on this page. Please review our Terms of Use for more details.