Technical Unravel

posted Oct 15, 2014, 9:42 AM by Katie Shook
Let’s not mince words here:  it’s looking bad.

Yesterday sellers came into the market late in the day again.  Overnight futures are down another 1.5% or so.  It’s time to start talking about “correction” here.  For the SPX, that means roughly 1819.  Based on the futures, we’re looking to test the 1850-55 range today.

No way to sugar coat this one;  we just don’t have traction right now.

Look for the big numbers right now — 1850/1825/1800.  We’ll see how the rest of the week shapes up before we start talking about 1700′s.  So far, the markets aren't liking the idea that QE is on its way out (though realistically there are so many ‘uncertainties’ out there it’s difficult to peg any one indicator).

Daily Digits

Daily Digits 10-15-14

Weekly Estimated Range

Weeklies 10-15-14

IMPORTANT DISCLOSURE INFORMATION Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Littlejohn Financial Services), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Littlejohn Financial Services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional adviser of his/her choosing. Littlejohn Financial Services is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Littlejohn Financial Services' current written disclosure statement discussing our advisory services and fees is available for review upon request.
Comments