SPX 500 Very short term

    Today I made time and price calculations about SP-500. These very short term calculations were based on the GANN Theory  mainly and the EWP. My last few months dream is a combination between the EWP and the GANN Theory. I have tried many times before, but hopeless. Gann is very difficult( for me) to be understood. The calculation pointed price 1177.75 or 1187.58,which is at 360 degrees angle and date -03/26/2010  or the day before or after that date as a reversal time point.
                 I know, that many of the EW followers will say- tell us something we don't know! Yes,but that was according to the GANN Theory only, taking  the 02/05/2010 -1044.50 bottom ONLY.

AMD - Elliott Wave Analysis

                On daily base the well known US company AMD probably has made a potential historical bottom ($1.63) in November 2008. Since then I can count only impulse waves – Probably we are in ii of I of 1 of (1) waves, which means, that if that count is correct we can see the most mighty, bullish extension since Nov2008 bottom.

              I suspect a “flat” correction underway, which looks unfinished. Probably reaching $ 7.92- $ 8.10 resistance is going to look better. After completing that potential “flat”, and that resistance level hold the price, I will have the reason to expect bounce up for iiith wave of Ist wave of a 1st wave of a (1)st wave. Yes I know that looks little complicated.

            So, if the price action doesn’t “obey” to my desire and dip lower, then we should see closing the gap $6.17-$ 5.35 and testing the $ 5.31 support level, which will be the key level for the further price exit. If that level find support among the bears -AMD is in a BIG TROUBLE.

According to the data base we have, and calculations can be pointed the first target of a new potential, tight bull trend-$ 16.90.

$ 9.75 is a good conservative buy level.

Weekly base

SPX - Some thoughts

That is the best count  I can suggest about the grand picture. The look to DJIA similar as well.

 The price is getting weak and diverging  according to MACD and few more technical indicators on 4 hour base. Sometimes, when the wave structure is difficult to recognize I use technical indicators mainly, until the picture gets more clear.

On daily base, I really don't know what is the next formation type- (contracting triangle, expanding triangle, flat or any complex), but I am sure, it we will be a great challenge for the traders. Now the price will need  longer time (few months) to have a break before the final bullish push. 

Probably some of you are thinking  that I am talking  nonsense about bull markets and such stories. In December 2009, when I noticed something rotten in the bearish case the bulls were very few.

Some of the EWP followers are on the way to screw up the real meaning of the Elliott Wave Principle. These guys were calling and believing in the EWI crash wave 3 and "going all in" are not respecting the price action. 

 Yes, the bull market is a fact. I can't count any impulse up at all, but however, the market is up.

Let the force be with you :)

DEN 20 - There is nothing rotten in the state of Denmark

                       I decided to "walk" to northern Europe, and found something interesting in Denmark. The local index DEN 20 has made beautiful impulse, which is almost done.
The wave count I came up with, is for an impulsive five waves. There are many, many gaps, but so what. The price is very close to resistance since July 2008 and I will keep it on eye next few weeks. My expectations are for corrective reversal soon.

The picture in 1 hour chart doesn't show signs of  reversal yet. If I notice any , I will make an update.

I've been to Copenhagen once, and can assure you - There is nothing rotten in the state of Denmark.

The Hard Rock music and the Elliott Wave Principle part II

                                                      PART II

             In the beginning of 60 - groups like “The Beatles",” The Rolling Stones” change the rock by accessioning greater sounds, heavy guitars, loud drums and strong singers. That sound  becomes the hard rock’s ground, and leaves a deep sign in my musical culture later. That style forms at last and becomes known at the end of 60s . Deep purple and Led Zeрpelin help out for its imposition with their first albums.    Note that then the world indices are already consolidated.

        

            During the 70s the assortment of other genres evolves from the hard rock. Queen mixes hard rock and heavy metal, progressive, even opera.

        Like every economic trend, and the musical one makes corrections.

 In 1980 Led Zeрpelin breaks after the drummer’s sudden death. The AC/DC’s vocal- Bon Scott dies  in the same year. Thereupon the fact, I have reason to suspect the end of the first  from third wave of "classical" hard rocks-bands.

   Some groups like Queen even goes away from hard rock sounding, they oriented to the pop-rock.

        The end of 80’s, according to my screenings is the most successful period for the hard rock music.

       Based on the wave counting, I suppose to expect third of a third wave. The first places in the musical rankings have been reached by hard rocks bands mostly. Bon Jovy’s "Slippery when wet" (1986) stays for 8 weeks in ” Billboard” ranking.  Europe’s "The final countdown" reaches a number-1 in 26 countrys. In 1987, the most mind - blowing albums are" Appetite for destruction" of  Guns’n Roses, and  Def Leppard’s “Hysteria”. I know that I cut quite great names in hard rock and their interpretation in the rankings, therefore expect all fans to forgive me.

         In the beginning of 90 appears new  combination:  punk and heavy metal and other styles . The bands who make this manner are Nirvana ... . . I do not remember about others.  I offer  to label this period as a fifth of third wave. Then launches a range of genres with hard core, rap and soul mixture. I intentionally missed  to enrich my musical culture, because I prefer the classics.

        I have the reason to suspect  beginning of wave four  around the beginning of the new millennium.This period begins I think with apathy about  the fans and the rocks-bands. The concert manifestations are rarity, probably due to the concern about avian flu  infection, anthrax or terrorist  assaults. The world indices as well went in corrections . The fourth waves have consolidating character .

      Fifth waves are usually based on extreme and mindless optimism.  Their form is different  and depends on previous 1^st and 3th waves proportion.

       In the beginning of the new century older and gray, some of my favourite groups begun to make songs, singles as well, validated their concert activity and even visited my country few times.

       I offer this period to be labeled as wave number five. During this wave i was really happy, because one of my dreams came true.  I had the opportunity to watch my favourite rock bands live. I visited in a three years period Deep Purple, Whitesnake, Ronnie James Dio and Rainbow, who brought dose of harmony in my soul.

      

       The most famous recent hard rock-bands have members from last century groups. For example “Velvet revolver” has member of the ex Guns’n Roses. These groups make secondary  meetings out and events

       Led Zeppelin export one concert and revive the hard rock-pastime again.

    According to Elliott Wave Model if we have five waves in one direction suppose to expect three waves (A B C) in the backward direction.

      I have reasons to think that the correction has already begun. What exactly do I can expect in times after this correction still can only imagine, but possibly the rock music will receive some other kind of sounding. I really hope that kind of the rock to sound like Deep Purple, Whitesnake, Rainbow, AC /DС, Def Leppard and other rock dinosaurs.