Ord joined. vrbuck left. jim I think they are watching 903 tom jim morning Tim lb GM Mr. Tim Handles gm Tim Ord Good morning all Peter hi Tim Gary_F weclom mr Tim Ord Gary_F you were 50 till v buck left Gary_F lol Gary_F the charst ar eposted onc eagian for tims greta lecture Gary_F he also doe s a greta newsltter for stocks hugh left. hugh joined. Ord Thanks for the "pug" gary. Ord Should I start? Ord I guess that means yes. Ord Just two chart today Ord The first chart is the daily chart of the SPX Ord On the SPX chart there is a load of resistance around 940 range Ord The 200 Day moving Average comes in near 940 Ord The Bolling Bands comes in near 940 Ord The January high comes in near 945 Ord For these resistance levels to be broken it would require an (SOS) Sign of Strength through the 940 level Ord Dough that will happen here because market is extended, I don't have it shown but the RSI on the weekly time frame is near 50 and in bear market that is about all the market can do. hugh left. hugh joined. Ord To say the down trend has begun would need the VIX to jump throug the blue downtrend line drawn on the VIX chart, So far that has not happen Ord The MACD is trend down and the McClellan Summation index is trending down and are bearish Ord The bottom window shows the spread of the Bollinger Bands jim left. Ord When the Bollinger bands narrow then a big move in the market is not far off. The BB is in an area where volitility may pick up soon. Ord Near I think there may be another shot are the recent highs near 93 or 94 before the topping process is complete. Ord Lets look at the seocnd chart which is the monthly SPX chart Ord Top window shows the Monthly RSI. Ord When the monthly RSI is above 50 the bull market conditions are present and when below 50 then bear market conditions are present. jim joined. Ord RSI is below 50 and still in bear market condtions hugh left. hugh joined. hollister joined. Paul left. Ord I labeled an area tiltled (Your are Here). Ord I'm expecting a pull back starting in this area Ord If the market does pull back here into July and bottoms near 740 range then I'm expecting another rally to begin in July tom joined. Ord I have a 20 month Moving aveage on the SPX chart and the 20 MA usually support the market in uptrends and shows resistince in a down trend Ord I have extended this trend line line and it comes in near 950 late this year. Ord The 20 month MA defines bull and bear markets Ord If the market rallies later this year up to the 20 month MA, it could show resistance Ord and stop the rally Ord If a Sign of Strength shows up throug the 20 month MA then the bull market would start again Ord If the 20 month MA is tested on lighter volume then it will provide resistance and the market will be rejected and a Rising Wedge pattern could form whree the start of the wedge is the March low. hollister left. Ord I forgot to draw the rising Wedge lines in Ord Don't know what will happen later this year when the 20 MA is tested but since the month RSI may be below 50 I would bet on the Rising Wedge pattern. Ord It's some thing to consider later this year and watch what is going on then. Most TA people are calling A Head and Shoulder bottom where the current pull back does devlop will be the Right Shoulder. Ord Since most TA people are calling for that I don't think it will happen Ord But we will see Ord ARe there any quection? John very clear I love your charts John very concise Ord Thanks Darius wonderful additional to the room Gary by having Mr ord pat left. Gary_F Tim what is yoru webiste so they can look at it? Handles so new lows and nobounce higher from here this year tim? Gary_F the URL? Ord www.ord-oracle.com Ord If you would like a 30 day free trial just send my your emial address Ord Tim@ord-oracle.com Handles i was thinking 780-800 then 930 then finito for 3 more years grind lower Ord Thanks for having me on Gary and I'll see you next week. All the Best, Tim Gary_F tim thank you Gary_F you ahve been a great lecteruer here Gary_F nic eperspewctrive on wyckoff na dyou add ons Gary_F be wlel time Gary_F did u see the querestion time?> Gary_F tim? Ord Question where Gary_F Handles questions brad where is kent to interpret that mess brad thanks tim! Gary_F Handles: so new lows and nobounce higher from here this year tim? Ord Handles, Don't knwo how deep the retracement may go, just a quess on the pull back. I guess it could hit new lows Hal joined. Handles no what i mean is ....we test 800 again and then bounce back to here....then we grind lower....is that what u see? Peter thank you Tim Handles or do u see us breaking above here one more time on the bounce back to this area after a nice dip? Peter no need to predict, just draw your lines and watch the action :) Ord I see a pull back into July and a possible bounce from around July into year end to the 20 month MA Ord left.