Friday, August 20, 2010

8/20 Weekly Commentary

I have been thinking that DJI and SPX are in a 4th wave expanded flat.  EWI counts Minuette1 done and Minuette2 in progress.  Either way, one more high remains to complete it, perhaps Sunday evening or Monday morning.  Targeting cash SPX 1076 to add to shorts.  A better target is SP futures meeting their 30-minute M/A:

Cash indices show a 5 down more clearly than futures:

I am holding short and not trading. 
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5 comments:

  1. AnonymousAugust 20, 2010 at 7:59 PM

    Steve,

    What is the best method to reconcile the point spread between SPX & SPY? I use Ameritrade and can not find a ticker symbol that tracks the SPX real time. Do you have any thoughts on what tracks SPX real time?

    ReplyDelete
  2. Steve KotelesAugust 21, 2010 at 4:23 AM

    Marketwatch is free. You can chart it or get quotes via their symbol SPX.

    ReplyDelete
  3. Steve KotelesAugust 21, 2010 at 4:24 AM

    SPY is delayed but SPX is real-time.

    ReplyDelete
  4. AnonymousAugust 21, 2010 at 12:05 PM

    Anon, you should check with Ameritrade for the right symbol, I'm sure they have it. On Tradestation the symbol is somewhat counterintuitive: $SPX.X ...

    -shabs

    ReplyDelete
  5. AnonymousAugust 22, 2010 at 1:00 PM

    Thank you Shabs!!! I entered that symbol and will test it out Monday.

    ReplyDelete

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