$SPX - End of day update

I love it when a plan comes together....

If your long you can safely set a stop at 878.93

If your short you can safely set a stop at 897.97

Irregardless place a trade on either side of these lines:
Long above 897.9 and Short below 878.93. When they break a BIG, and I mean LARGE move will be made.

Have a Great & Safe Memorial Day Weekend

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

PM - Looking toppy

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX-Update

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

Video worth a look......

$SPX

YTD look shows how toppy...

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX

The market has dandruff....the ranges are pretty clear

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

Crude to $78.75

When it breaks the $62.81 level on a weak US dollar. Weak dollar means commodities going up........

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

TGT

HUGE Head & Shoulders pattern on Target. Short with a stop at $43.25. And you can bet I'll be looking 3-6 months out for Puts at the $25 level.

COST is another one to watch with a similar topping reversal pattern potentially forming here as well....

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

GS

If Goldman Sachs is leading the market, then tomorrow the wheels on the bus will be travelling through the hood and coming off.  Can you see the H&S pattern over the last 5 days on this 10-day 1hr chart?

XLF @ S1 Pivot $11.88 - will it hold?

This level is also the bottom of this channel and a lot of white space beneath it.

It did not hold and is now resistance.

GLD - HIT weekly Pivot R1

XLF - Financials ETF

Ascending triangle to $13.18

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

BAC

Long term look at BAC

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

GLD - 2yr weekly

The 2yr weekly shows the battle GLD is having over the $90 price point. And a review of the Pivots posted earlier explains why. Take a look at all the $90 price points on the daily, weekly, and monthly pivots. I see getting long here on any pull back below $90 with a tight stop just below the bottom of the channel at say $89 and a loose stop just below the monthly pivot of $87.86. Short-term target of $94.50 - Long-term $99.89.

GLD

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

GLD - Pivots

	Day	Week	Month	Quarter	Year
R3 = High + 2(Pivot - Low)	92.13	94.72	97.25	120.01	137.08
R2 = Pivot + (R1 - S1)	91.74	93.26	94.32	109.50	118.76
R1 = (2*Pivot) - Low	91.35	92.41	90.79	99.89	102.64
PIVOT = (High + Close + Low)/3	90.96	90.95	87.86	89.38	84.32
S1 = (2*Pivot) - High	90.57	90.10	84.33	79.77	68.20
S2 = Pivot - (R1 - S1)	90.18	88.64	81.40	69.26	49.88
S3 = Low - 2(Hi - Pivot)	89.79	87.79	77.87	59.65	33.76

 

PM

A waiting game here on PM as like the overall market it appears to be topping out. Lines in the sand on the way back down are 39.28 and 36.26. PM has gotten ahead of itself and a pullback to the 200 day EMA will just revitalize the BULLS as the 20 & 50 Day EMA's continue to rise to the 200 day ema which is currently at 40.75. And as the last post of the Pivots shows the Monthly R2 resides at 40.58 which will also act as support on the way back down.

PM - Pivots

	Day	Week	Month	Quarter	Year
R3 = High + 2(Pivot - Low)	43.37	47.60	42.20	55.58	75.75
R2 = Pivot + (R1 - S1)	43.05	45.46	40.58	49.99	64.99
R1 = (2*Pivot) - Low	42.63	44.32	38.39	42.78	53.94
PIVOT = (High + Close + Low)/3	42.31	42.18	36.77	37.19	43.18
S1 = (2*Pivot) - High	41.89	41.04	34.58	29.98	32.13
S2 = Pivot - (R1 - S1)	41.57	38.90	32.96	24.39	21.37
S3 = Low - 2(Hi - Pivot)	41.15	37.76	30.77	17.18	10.32

 

ProphetCharts: GOOG

---

For the Web's best interactive charts, please visit http://www.Prophet.Net

MSFT

---

For the Web's best interactive charts, please visit http://www.Prophet.Net