Market comments for 4/14

First, a message from ChartsEdge - "No Market Map will be posted for Apr14".

Some market comments of my own - one is that President Obama speaks on the economy at 11:30 a.m. (Eastern). Another is that the Armstrong cycle date comes up approximately April 17-20, but Armstrong's March newsletter states that the date is not so exact, especially for this interim cycle. Then again, the ChartsEdge weekly cycle forecast indicated a rally high into the end of the week. The ChartsEdge weekly cycle forecast charts for equities and gold can be located at their site (always included in the "other sites of interest" listed at the right side of the page here), and also by looking under the "ChartsEdge weekly" label in the labels list at right. I've also placed them again here (see below).

Does this mean we'll definitely see a rally into opex Friday? It isn't 100% certain - remember that ChartsEdge identifies cycle high and low times, and makes an effort to indicate relative high and low onto the graphic charts. Information on how they generate the weekly and the daily charts (using different methods) is at their site, and also at my trading education site (see link in the "welcome paragraph" upper right). Also, we typically can tell early in the day or week, whether the forecast for that day or week is "working".

Then there's Elliott Wave, in which we're either up as part of a B wave (ably indicated in Tony Caldaro's Objective Elliott Wave) or a 4th wave (well indicated for a primary 4th wave alternative, in Andre Gratian's weekend update). And from a Fibonacci and resistance level perspective, readers here know that we're looking at 860, 875, and 881/884 in the SPX. As well as my own SPX chart shown here often, in which the market pushed right up to the upper down-sloping trendline yesterday. So we're watching that - and also the SPX:VXO ratio that's edging toward its 200 dsma (as posted again yesterday, either here or at my UBTNB3 site), as well as whether the Dow Transports ($TRAN) can mount resistance at the 3000 level.

All reasons to be careful out there, as always - good luck and happy market navigating!