Since early January, a whole slew of DeMark 9′s and 13′s were completed on the S&P 500 (SPX), SPDR S&P 500 (SPY) and their related indices/ETFs. They are all history with the exception of the Nasdaq Composite (COMPQ) and the PowerShares QQQ (QQQ). Those are still currently in play. In hindsight and against my better judgement, I initiated short positions much too early. At the time, there was evidence an Elliott three wave ( See Jan 25 or Dec. 18 posts ) was just starting out. But a slew of DeMark indicators were popping up like Spring flowers that were too good to ignore and the market ignored them as well. This go around, a whole new set of DeMark clusters are beginning to pop again and this time, the wave construction looks complete making a pullback/correction ripe this week.
The SPX 1503 bull/bear line has been broken to the upside and the run on stops is propelling it higher. Judging by the bottom made by the VIX, and the sufficiently completed wave structure, bear relief is around the corner. Currently 40% short but inclined to press the shorts at some point between late today or tomorrow. (updated mid trading day)
Hello
Are you doing these TD analysis by yourself? Thank you
Yes. These are my own views and interpretations. However I do try to mimic DeMark’s analysis whenever he shows up in the media.
Thanx! Where can i find more TD analysis like this?
Do you mean in terms of learning it? The two books I would recommend are DeMark Indicators and New Market Timing Techniques. I would start with DeMark Indicators first since it’s more to the point.
I mean where can i find more TD graphs like yours in order to compare them
I don’t know of where else you can look but if you get your hands on the DeMark upgrade to the Bloomberg, I will be your best friend.
and one more question. today is number 9. so is it a top? thank you
It’s looking probable but nothing is confirmed yet. Breaking under SPX 1503 will be a good start.
Art-
Do you have real time Demark indicators?
If not, how can you make calls based upon a guess?
Just curious, from the comments above indicate that you do not have TD software.
Otherwise, your site is great.
Bill
Thanks Bill,
DeMark’s stuff is pretty straight forward but can be tweaked by the user so there is more than one way to use it. All I use is what is built into the Think or Swim platform which is updated real time. For the major indices and some select equities, I’ll notate them manually. It’s fine since I prefer not to see some incomplete counts erased.
Thank you. So Think / Swim has these TD indicators?
Have you tried any other platforms than think/swim?
I wonder if etrade has these indicators?
I hopefully answerd your question in the recent post. I really doubt e-trade has it but if they do, please let me know. Art