friday update

SHORT TERM: quiet day after stellar week, DOW +44

Overnight the Asian markets gained 0.9% – that was mostly Japan. European markets opened lower but gained 0.4%. US index futures were relatively flat overnight. At 8:30 the monthly Payrolls report came in about in line with expectations: +155K vs +146K, but the Unemployment rate rose to 7.8%. The market opened one point above yesterday’s SPX 1459 close, dipped, then bounced to 1464 by 10:00. At 10:00 Factory orders were reported flat: 0.0% vs +0.8%, but ISM services were reported higher: 56.1 vs 54.7. The market pulled back to SPX 1460 by 10:30, and then tried to rally. At 3:30 FED vice chair Yellen’s speech was released: Heading into the close the SPX hit 1468, then dipped to close at 1466.

For the day the SPX/DOW were +0.40%, and the NDX/NAZ were mixed. Bonds lost 2 ticks, Crude added 15 cents, Gold dropped $8, and the USD was flat. Medium term support remains at the 1440 and 1386 pivots, with resistance at the 1499 and 1523 pivots. Today the WLEI was reported lower: 54.9% vs 55.4%, and long term Investor sentiment remained bearish: 48.6% vs 48.6%.

The market opened relatively flat today, bounced around under yesterday’s high, then made a new uptrend high in the last hour of trading. It was a quiet day with the entire range only 8 SPX points. Lots to cover in the weekend update.

Short term support rises to SPX 1462/64 and the 1440 pivot, with resistance at SPX 1471/75 and the 1499 pivot. Short term momentum appears to be building toward another negative divergence. The short term OEW charts remain positive with the swing level now at 1441. Best to your weekend!

MEDIUM TERM: uptrend new high SPX 1468

LONG TERM: bull market


About tony caldaro

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14 Responses to friday update

  1. M1 says:

    Here is my alt count.
    SPY made a new all times high this week. But this market could still be choppy for several more months

  2. torehund says:

    New crazy small cap for you, Rosetta genomics (ROSG). During the period from approx 2007 until today stock has made a HUGE decline from 520 usd in what looks like an DE + the large ABC symmetric decline ending right now…
    From May 2011 it has descended from 23,4 usd to 4,7 usd, as of today. The latter decline looks like a reversed 5th + abc up, and then ending in another reversed 5t wave wave(5-3-5).
    The last five waves in this 5-3-5 (from May 2011), three of them have in the last months had difficulty retracing the previous abc as a sign of impending strength. The last one of these small reversed motivated wave complexes is in the process of being completed.
    Fundamentally the stock is sound, mcap of 38 mill usd, 30 mill in cash, a revolutionary diagnostic kit for cancers ready to be deployed in the US. And the kit is reimbursed. Like for EGLE this one could just be turing the corner, crossing my fingers.

    • mokiepon says:

      torehund, sounds interesting. I’m checking it out. Thanks and have a good evening.


      • torehund says:

        The stock is very interesting both fundamentally and technically, and if I am not wrong footed it should start running pretty soon, (I just dont think there is much downforce left to retrace the whole gap from 23,4 to less than 2 dollars). But nothing is certain, so thread carefully and always make your own decisions about investing. These case studies I present, is not me recommending to buy any of the stocks, but to stimulate for discussions…
        Small caps may at any time give the investor 60-80 percent in minus, and I don’t want to be associated with anyones losses.

        The RUT has for years been constricted and prevented from running due to strong overhead resistance, and what I believe is FEDs intervention in markets at certain times. The 2011 June decline was engineered with wave 3 destruction for weeks…
        At any rate, RUT has broken to all time high and I hope that the FED will not constrict its possible run this time around.

  3. CB says:

    thanks Tony. You’ve nailed that spaceX trajectory really well.
    If you guys want Erka real badly, let me know, I’ll try to ask him NICELY.. under no conditions do I do begging, though :))

  4. LX says:

    +1 Aqua
    Be humble or BE humbled
    With all the blow hard flip flopping yellow bellied egomaniac so and so’s(myself included) in the
    EWT/TA blogosphere… why would Erka call out Tony “It ain’t over til it’s over” Caldaro? it just escapes me.
    If Tony wasn’t THE best OEW/EWT wave caller/rider I’ve ever seen I’d still want to party with him.. and thats a fact jack 😉

  5. 7dayyss says:

    That’s classic! Would think more of him, if he would post now and display the humility that Anthony had/has toward him.

  6. aquafam says:


    How’s that watered down wine tasting?

    Aka. Erka

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