Weekly 3LB Update for week ending 12/11/09

Weekly 3LB update (week ending 12/11/09)
* indicates new chart,
a new high or low will change the reversal price and the midpoint

SPX* -new high
trend=up;
rev= 1087.68; mid= 1097.05
Chart of SPX:


Dow Jones -new high
trend=up
rev= 10270.47; mid= 10338.15

Nasdaq Comp -no change
trend=no; direction=up (2 bars)
rev= 2045.11; mid= 2119.73

DXY* -new high (WEEKLY REVERSAL last week. Confirmed this week. Now will it trend?)
trend=no; direction=up (2 bars)
rev= 74.86; mid= 75.72
Chart of DXY:


Gold -no change (now trading below mid)
trend=up
rev= 1095.70; mid= 1134.95
Chart of Gold:


10 Year -no change (now trading above mid)
trend=no; direction=down (2 bars)
rev= 38.62; mid= 35.37

SLV -no change (now trading below mid)
trend=up
rev= 16.50; mid= 17.36

BAC -no change (trading below mid...again)
trend=down
rev= 17.46; mid= 16.02

AXP -no change
trend=up
rev= 34.95; mid= 37.94

AMZN -no change (possible dark cloud cover on weekly chart)
trend=up
rev= 118.81; mid= 128.06
Chart of AMZN:


M -new low (WEEKLY REVERSAL still needs confirmation week. Not confirmed...yet)
trend=no; direction=down (1 bar)
rev= 19.82; mid= 17.90
Chart of Macy's:

VIX -new low (WEEKLY REVERSAL last week. No confirmation this week)
trend=no; direction=down (1 bar)
rev= 30.69; mid= 25.97
Chart of VIX:


XLF -no change (trading below mid)
trend=no; direction=down (1 bar for 7 weeks)
rev= 15.24; mid=14.65

BKX -no change (trading below mid)
trend=no; direction=down (1 bar for 7 weeks)
rev= 47.69, mid= 44.96

WTI Crude Oil -no change (now trading below mid)
trend=up
rev= 68.44; mid= 74.47
Chart of WTI:



Powershares USD Bull (UUP) (now trading above mid)
trend=no; direciton=down (2 bars)
rev=22.83; mid=22.55
Chart of UUP:


Edit: Adding Sugar #11 info
Weekly
trend=up
rev= 23.52; mid= 23.76

Monthly
trend=up
rev= 15.58; mid= 19.99

Weekly Chart of Sugar #11:


Monthly Chart of Sugar #11:

GS update

trend=no
direction=down (1 bar for 2 weeks)
rev= 189.30
mid= 176.73
Didn't realize they had a weekly reversal back on 11/27/09. But once it starts....
Chart of GS:

Wilshire, Apple, 30 Year Bond

Wilshire 5k - new high (WEEKLY REVERSAL after 5 weeks of consolidation)
rev= 10655.73; mid= 11005.82
Chart of Wilshire:


AAPL -no change (trading below mid, bias turning negative)
rev= 185.02; mid= 194.68
Chart of Apple:


30yr Bond -no change (yield now trading above mid)
rev= 46.56; mid= 43.34
If this continues then auctions are going to require higher yields to be successful.
Chart of 30yr bond yield:

Weekly 3LB Update for week ending 12/4/09

Weekly 3LB update (week ending 12/4/09)
* indicates new chart
a new high or low will change the reversal price and the midpoint

SPX* -new high
trend=up;
rev= 1071.49; mid= 1088.74
Chart of SPX:


Dow Jones -new high
trend=up
rev= 10023.42; mid= 10206.16

Nasdaq Comp -new high
trend=no; direction=up (2 bars)
rev= 2045.11; mid= 2119.73

DXY* -new high (WEEKLY REVERSAL needs confirmation week)
trend=no
rev= 74.86; mid= 75.31
Chart of DXY:


Gold* -no change (had a mild correction but no reversal)
trend=up
rev= 1095.70; mid= 1134.95
Chart of Gold:


10 Year -new low
trend=no; direction=down (2 bars)
rev= 38.62; mid= 35.37

SLV -no change
trend=up
rev= 16.50; mid= 17.36

BAC -no change (trading above mid)
trend=down
rev= 17.46; mid= 16.02

AXP -no change (still trading above mid)
trend=up
rev= 34.95; mid= 37.94

AMZN* -new high
trend=up
rev= 118.81; mid= 128.06
Chart of AMZN:


M* -new low (WEEKLY REVERSAL still needs confirmation week)
trend=no; direction=down (1 bar)
rev= 19.82; mid= 17.90
Chart of Macy's:


VIX* -new low (WEEKLY REVERSAL)
trend=no; direction=down (1 bar)
rev= 30.69; mid= 25.97
Chart of VIX:


XLF -no change (trading below mid)
trend=no; direction=down (1 bar for 6 weeks)
rev= 15.24; mid=14.65

BKX -no change (trading below mid)
trend=no; direction=down (1 bar for 6 weeks)
rev= 47.69, mid= 44.96

WTI Crude Oil -no change
trend=up
rev= 68.44; mid= 74.47

Nikkei

Nikkei weekly 3LB update.

The Nikkei is making a move towards the weekly reversal midpoint after testing the 55sma. We'll see if it's real as it approaches the midpoint. I suspect a headfake is in the works.

This is one of the reasons why I like the three line break charts. Here is a long term 3LB of the S&P 500 showing dates of the change in direction. The chart is independent of time. A new candle is drawn when the price targets are hit. That's why you can get a 1966-2009 chart on one page. You can also expand the chart by having bars repeat until a new bar is drawn. That helps the chart line up to the candlestick charts.

The Weekly 3LB Updates

Weekly 3LB update (week ending 11/27/09)
* indicates new chart, nc=no change

SPX -nc
trend=no; direction=up (1 bar)
rev= 1042.73; mid= 1068.11
Chart of SPX:


Dow Jones -nc
trend=up
rev= 9995.91; mid= 10157.04

Nasdaq Comp -nc
trend=no; direction=up (1 bar)
rev= 2045.11; mid= 2106.50

DXY*
trend=down
rev= 75.58; mid= 75.28
Chart of DXY:


Gold*
trend=up
rev= 1095.70; mid= 1134.95
Chart of Gold:


10 Year -nc
trend=no; direction=down (still 1 bar after 9 wks)
rev= 38.62; mid= 35.42

SLV -nc
trend=up
rev= 16.50; mid= 17.36

BAC -nc (holding above mid)
trend=down
rev= 17.46; mid= 16.02

AXP
trend=up
rev= 37.21; mid= 39.11

AMZN -nc
trend=up
rev= 118.49; mid= 125.73

M -nc (still below mid)
trend=up
rev= 16.07; mid= 17.95

VIX -nc
trend=no; direction=up (1 bar for 6 weeks)
rev= 21.43; mid= 26.06
Chart of VIX:


XLF -nc
trend=no; direction=down (1 bar)
rev= 15.24; mid=14.65

BKX -nc
trend=no; direction=down (1 bar)
rev= 47.69, mid= 44.96

WTI Crude Oil -nc
trend=up
rev= 68.44; mid= 74.47
Chart of WTI Crude Oil: