Saturday, 19 January 2013

Emini S&P and other equity indices.. how far left in this move and whats the major target destination?

When we get a strong trend such as we are seeing at the moment I need to have some idea of where we are heading. This is in part due to the fact that I spent many years snatching profits and taking small bites out of the market and if i had only just let positions run their course I would have made significant -almost life changing profits- rather than in and out all the way up a trend always worrying about topping out. So this is a basic appraisal using advanced linear technical analysis of the current trend in ES H13 and other equity indices and where we are heading.
 Firstly, lets pull up a daily chart and look at the most recent swing highs/lows and the relationship they express as a frequency of reaction lines and median lines.This is the same dominant fork drawn in most of the charts below but some pivots are different.
CAC40 ( grey CL)
CAC40 ( green CL)
FTSE ( grey)
Emni S&P ( green)
Mini Dow (green CL)
Russell emini 2000 ( different P0)
emini Russell 2000 (differentP0)

emini Nasdaq

The conclusion is that IRTP (in relation to time and price) the emini S&P H12  initial target is 1500
and the mini Dow H12 = 13700. The trend and momentum should continue with no large significant retracements/chnage of daily trend direction. These are both do-able and we could be there within a week or two.

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