Yesterdays session marked the pick of "i" of 5th wave. The expected pullback won't be deeper than 6760 probably.
Good luck trading!
Dec 8, 2010
Nov 30, 2010
SPX 500
I've got a reason to consider wave A minor of a potential triangle completed.
1 173 became strong support. Once broken the price will meet next support at 1 154.
Nov 25, 2010
SP 500
Hey Wavers, It's been difficult lately...., I know...Between the Flash Crash and believing in the real evidence-long term.
I was lucky and happy to nail the 2007-2009 slide. It will be a good story for my grand children.
I know ....we know ...it was very fast and profitable.
What is the essentials of the EWP?...1-2-3-4-5..... a-b-c? THEN 1-2-3-4-5.... and a-b-c again.
Do you know that SP500 has retraced more than 50% since the top in 2007 till March 2009.
....Probably This is the old Bull Market.
Nowadays ...
It will be very difficult for the bears to continue the pullback, and reach 1172 again after todays ignition.
Breaking 1195 downside was a good sign, that I was wrong about my latest count. Wave four Minor is the better suggestion for the current scenario. It hasn't retraced 38.2% but it can be valid as well. I like the triangle idea, but it needs little more time to unfold.
I was lucky and happy to nail the 2007-2009 slide. It will be a good story for my grand children.
I know ....we know ...it was very fast and profitable.
What is the essentials of the EWP?...1-2-3-4-5..... a-b-c? THEN 1-2-3-4-5.... and a-b-c again.
Do you know that SP500 has retraced more than 50% since the top in 2007 till March 2009.
....Probably This is the old Bull Market.
Nowadays ...
It will be very difficult for the bears to continue the pullback, and reach 1172 again after todays ignition.
Breaking 1195 downside was a good sign, that I was wrong about my latest count. Wave four Minor is the better suggestion for the current scenario. It hasn't retraced 38.2% but it can be valid as well. I like the triangle idea, but it needs little more time to unfold.
Nov 11, 2010
SPX - Cash Index
More than 2 months the bulls control the ball, slightly tired, but still in the game. Yesterday's pullback produced green bullish candlestick with not so high reliability.
Probably 4 minor wave is forming now. Minor 4th wave is particular wave pattern, and needs it's time. We got only 3 days after toping 3th minor. That's why the correction doesn't look finished yet. I have to relabel in case the price bounce up for new high today or tomorrow.
Possible test level- 1195
Target- 1237
Probably 4 minor wave is forming now. Minor 4th wave is particular wave pattern, and needs it's time. We got only 3 days after toping 3th minor. That's why the correction doesn't look finished yet. I have to relabel in case the price bounce up for new high today or tomorrow.
Possible test level- 1195
Target- 1237
Good luck!
Nov 9, 2010
DAX - Elliott Wave Update
In Friday DAX closed within the target (6754), that I offered in my post in the late July.
Very interesting lines crossing has occurred when conecting few tops and bottoms, whose spot is going to be next few days. Usually around such spots the price turns.
According to the current count (4)th and(5)th waves are still expected. Probably the (3)th wave is not finished yet. Don't reckon on sell off, becuse the lowest "alowed" price level acording to the scenario is 6550. The long term trend is up, and shorting the market on daily base is risky and no preferable. Lower time frames will be suitable for daytrading.
Very interesting lines crossing has occurred when conecting few tops and bottoms, whose spot is going to be next few days. Usually around such spots the price turns.
According to the current count (4)th and(5)th waves are still expected. Probably the (3)th wave is not finished yet. Don't reckon on sell off, becuse the lowest "alowed" price level acording to the scenario is 6550. The long term trend is up, and shorting the market on daily base is risky and no preferable. Lower time frames will be suitable for daytrading.
Good luck!
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