Update 12/8 January Effect Candidates 2014/2015

12/8: Intraday dips throughout the week stopped short of testing resistance, and haven”t attacked resistance, but almost any early strength would be credible for extending higher intraday. Parameters unchanged.

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12/8: The two-week old narrow sideways ranging persisted, avoiding tests of either support or resistance. Parameters unchanged.

12/8: Returning to what had been .135 support managed to close above the adjusted .145 stop, but bottoming requires the test to be rejected without further delay by recovering sharply. Parameters unchanged.

12/8: Initially dipping to 9.40 support didn”t hold through the close, but extending down to what would have been the 8.80 support did hold tests on the week”s last two days. Any rally on expanding volume would be credible for extending higher intraday. Lowered parameters.

12/8: Tests of 7.90 support held through the close, but volume didn”t expand as price only firmed. A valid bottom has little excuse to further delay rallying. Parameters unchanged.

12/8: The week began by dipping, but not deeply enough to test 8.35 support before reversing up sharply and extending through last month”s highs to test 10.00 resistance. Raised parameters.

12/8: Holding .057 support reacted up only modestly, albeit on expanding volume, but not to launch a rally. Valid basing has no excuse to further delay launching a recovery leg. Parameters unchanged.

12/8: Precious Metals mostly ranged sideways through the week, and miners didn”t deviate much from their underlying commodity”s behavior. Parameters unchanged.

12/8: Still ranging between 8.80 support and the 8.00 stop is all but obligated to probe fresh lows. The pattern still suggests that a fresh low would be only temporary. Much depends on whether the underlying Crude Oil is bottoming, too. Parameters unchanged.

12/8: The decline has barely hesitated, as if hurrying to fulfill the pattern”s extended target to satisfy another round of selling from the same sponsorship — presumably tax loss selling pressures. Lowered parameters.

12/8: Closing above 46.35 and extending only slightly higher before dipping has held well above the pattern”s support. Raised parameters.

12/8: Sideways ranging has persisted, although volume began expanding into week”s end. Parameters unchanged.

12/8: Volume has contracted consderably as price drifted lower through the week, but only to attack support. Parameters unchanged.

12/8: Greeting the week by gapping down to test the 9.15 stop was recovered briefly to the 9.35 support, resolving down to new lows into the weekend. Contracting volume suggests the leg is more likely only temporary noise in sympathy with the underlying Crude Oil commodity”s persistent weakness.

12/8: Still trending down to new lows, and still substantially underperforming an already week sector, making parameters doubtful to be reinstated.

12/8: The week began by dipping under 21.80 support to twice test what would have become the 20.60 stop. Fresh lows should be probed regardless of the pattern”s resolution, but probing fresh lows should be recovered quickly if the pattern is still only basing. Lowered parameters.

12/8: Having ended the prior week reacting down from 3.35 resistance, the new week began by sliding sharply to 2.55 support the first day. The balance of the week doubled the slide. Any lower would require extending to new lows, but early strength would be credible for extending higher . Lowered parameters.