Welcome to Q4-2014

posted Oct 1, 2014, 9:26 AM by Katie Shook

Pricing patterns continue to be weak.  Both daily and hourly charts are picking up momentum to the downside.  The support level to watch is about 1966.  If the market moves below this level it’s probable we’ll test the 1957 level (the 100-dma).  The last test of this technical support level was in early August.

Overnight the futures dropped a few more points on the ES, indicating we’re likely to open a few points down and test this area again.  The thesis of “buy the dips” is being challenged right now.  For months now the trick has been to boldly accumulate on this kind of price movement.  It’s getting more and more difficult to have conviction about this bull market as the system keeps generating exit signals and the 2000 price level gets further in the rear view mirror.

It’s times like this attitude and opinion can betray you.  Process process process!!!

Daily Digits

Daily Digits 10-1-14

Weekly Estimated Range

Weeklies 10-1-14

Chart of Interest

Short-term Momentum 10-1-14

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