You need to register separately on the Chart Forum
- see Chart Forum Help
Edit Profile Profile Help Help
Forum Rules Forum Rules Advanced Help/Instructions Advanced Help
Search Last 1|3|7 Days Latest Posts Latest Posts
Search Search Forum Tree View Tree View
   
Trade Trends with Bollonger Bands and Twiggs Money Flow

Archive through August 31, 2010

Chart Forum » Hilarius' Hall Of Fame » Elliott Wave Watching » Archive through August 31, 2010

««  «  Previous  Next  »  »»


Author Message

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3876
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 10:45 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

Can I assume from your last post you don't need an explanation of 'nesting'?


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3877
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 10:48 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hey Paddy,

Not sure what a 'way point' is. I'm assuming that you are talking about limits. If so 1013 is close enough to my 1010 for me. A point or three means very little to me in the bigger scheme of things.







I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3878
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 10:57 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi MM,

Whilst I believe that the latest 'nested' waves scenario has a lot of merit, that does not mean that it is correct. The previous count that I posted in my post 3863 yesterday is still well and truly on the cards at present and isn't even close to being invalidated.

If that count is correct, then after completion of wave circle iii somewhere near the 1024 (based on wave equality) we will get a move back up to the 1055~1060 region for wave circle iv. I would expect this to occur sometime in the next 2 or 3 trading days.

If you look at the Slow Stochastic and other indicators on many of our largest stocks at the moment, they are indicating that the stocks are in oversold condition and could bounce at any moment. I would not get too bearish at this point in time as there is still a lot of water to flow under this bridge.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3879
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 11:06 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Lee,

Whilst your count is a possibility I think that I'll just keep on going with mine for the time being. I like to do one wave at a time and as long as the counts aren't invalidated I'll stick to them.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3880
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 11:38 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Current XJO Price Action

Note that all of the waves that have formed in this weird rally phase are corrective. That means that the rally cannot last and eventually the party will be over on this rally.





I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3881
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 11:51 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Current XJO Price Action

In case anyone was lost and didn't know which weird rally phase that I was speaking of in the previous post the following chart should put it in perspective.





I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3882
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 01:32 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ETF GOLD

Hi Bill,

Not sure if you're still in ETF GOLD. I get the feeling that it will not get to the previous high. Whilst 5th waves in commodities do very often extend, it does look like it may not do so this time. At this stage it looks as if $137.50~$138.00 may be the top. Unless it does extend, the next leg up must be shorter than the last leg as the first leg was longer than the third.




I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
ody
Member
Username: ody

Post Number: 5334
Registered: 10-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 04:38 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Rudy, - I support your view of GOLD (as well as not being nearly as bullish on the metal itself as I was formerly). I think that despite some volatility, the sentiment in general is nowhere near as universally strong as it used to be.


Top of pagePrevious messageNext messageBottom of page Link to this message
mastersl46
Member
Username: mastersl46

Post Number: 24
Registered: 06-2009

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 04:58 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Everyone,
Yes billt, your count seems very probable indeed.
No move up to 1070 yet, not sure if it will even get there. There were 5 waves up from 1040 - 1060 but did not look like a C wave as I stated in my chart so forget that. Most likely an A wave (the one you have in blue on your chart).
I suppose the most important thing is what the SPX does when it touches it's top trendline(if it ever gets there).
Here is another chart for XJO




Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3883
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 08:29 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Ody,

I still am bullish about the POG for the long term but believe that it is nearing a negative part of a cycle. If correct I believe that it is completing a wave B and is just about to enter a wave C that may last for a few months. There is still a possibility that it could shoot up to around the $1325 level but it may not make it this cycle. I certainly have no real confidence in it at present.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3884
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 08:47 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



DOW Average Monthly Performance Since 1950

I found this Chart of the Day graphic very interesting. I suspect that perhaps much to the surprise of many, October is not the worst month of the year for share market performance. That dubious honour belongs to September.

I am particularly interested in that because my favoured scenario anticipates the bottom to this correction mid to late September.

The chart below provides the average market earnings for the DOW since 1950.






I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 163
Registered: 02-2010

Rating: N/A
Votes: 0


Friday, August 27, 2010 - 10:42 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hey Rudy

I was a bit over watching charts declining, so here's my TZA heading north.

Looks like it is wave ii of 5, prior to the open friday.






Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3885
Registered: 11-2006

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 07:28 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Paddy,

Looks like your comments yesterday are going to be pretty close to the mark.


"I see way points 1074± and 1013± to complete
this segment . Final target way point
is a L2 DF 0.618 and that has to be limit
as I see it."


My translation of Paddy's comments is that it will move to around the 1074 level before a move down to roughly the 1013 level.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
paddy
Member
Username: paddy

Post Number: 1829
Registered: 03-2008

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 07:48 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Rudy : The term "waypoint" is a point, on earth,
defined by two coordinates . Term really came
into use with the growth of GPS units .

In my case I was using the term waypoint to refer to a point on the Index chart that was defined by Price and Time . The waypoints mentioned are considered to be potential significant turn points .

I still stick with those values . Monday may be "magical"
at the start but once the upper waypoint is reached Mother
may get very nasty . With my limited astrological knowledge I think that September has the potential to be quire nasty . I'm sure the OGRE will set el Bazza straight if this thought belongs on the OS.

Paddy


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 164
Registered: 02-2010

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 01:15 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Here is the update for the SPX Nesting Scenario.

SPX completed a big ABC overnight, delaying its departure for iii of 3, and is poised for a considerable drop next week.




Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3886
Registered: 11-2006

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 02:59 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



TZA


Hi Bill,

Hehehehehehehe. I love the way you totally ignore waves that don't fit into your view of what a stock is doing. Any reason why you ignored that big baby in the middle?




As you can see from the longer term chart of TZA, the stock is clearly in a corrective phase because it's going against the longer term trend Consider that total messy pattern starting in May as something like a Flag pattern. Once it's finished it will then continue the trend downwards. Now I'm not suggesting that my count is correct but at least I have accounted for all of the important waves in that portion of the pattern.



Here is a close up of that particular pattern under consideration.




Note that I have left out a few of the (c) wave labels to prevent cluttering the chart but I'm sure you'll work out where they are.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3887
Registered: 11-2006

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 03:02 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Barry,

Thanks for explaining your terminology. I thought that is what you meant but wanted to be sure.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 166
Registered: 02-2010

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 04:05 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi Rudy,

TZA

I knew if I posted a bit of nonsense, I'd get a proper count back...if I ignored those waves they might have gone away! (I was even thinking of rubbing them out!)

W's Y's XX's Z's, some in circles/some not, more abc's than the local kindergarten...mate, it's a nightmare!

If I can get this baby to Z, can I get back to normal numbers please Rudy?? please??

Look - it all works now!




Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 167
Registered: 02-2010

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 04:25 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi again Rudster

I had hoped POG's final wave v might have had a bit more juice in it to equate to wave i, but it appears this might be it as you say...

$1239 was always going to be a problem, which I anticipated a few weeks back, so its time to say good bye to my ETF Gold - it was a nice run for the past month.

Bill




Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3888
Registered: 11-2006

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 04:53 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

I have to agree with you about the POG. It may well go up to $1325 but you couldn't make that sort of judgement with any confidence at this stage. Your shorting stocks in the US look like much better bets.

As for the complex 5 wave patterns. I'n not really sure why people find them so difficult. If you see a 5 wave pattern that doesn't overlap then it could be an impulse wave. If you see one that does overlap then it is either a leading diagonal, ending diagonal or a complex corrective. What could be easier than that??


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 169
Registered: 02-2010

Rating: N/A
Votes: 0


Saturday, August 28, 2010 - 06:41 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



...if its ok by you, when we get complex 5 wave patterns I will be opting to 'phone a friend'!

At some point down the line I'll be queueing up to buy Gold Kangaroos, but for the time being I will continue playing with TZA and her much more bullish brother TNA.

I have 'position traded' TZA for this trip south.

Other guys also keep a separate stash to 'swing trade' against the 5 min/15 min/30 min charts on a TA basis. I enjoy sleeping when it is dark - so I'll hang in through the dips.

Thanks for the Wrap Rudy - I am still bearish the SPX.

Friday's SPX rally simply ran to the upper trend line, which also hit fibo numbers, gaps, overhead resistance, astro numbers, and a huge Samoan Bouncer!

Monday night might be fun!

cheers

Bill


Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3889
Registered: 11-2006

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 10:46 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

No problems with phoning me any time matey.

I think that your idea of position trading is much better than the swing trading for the reasons that you mention. I have found that I have had a lot greater success doing that then attempting to trade every little wavelet. Inevitably I get caught flat footed attempting to do that. Doing it over days or weeks I have found easy but when doing it for a day or two my success rate is much lower.

As for you being bearish about the SPX I can well understand that. The contracting wedge pattern is a great failure pattern to help your cause especially with the overhead resistance close by.



The index that I have some difficulty with currently is our XJO. Whilst I remain bearish about the index in the next few weeks, I am uncertain about the next few days. Currently a lot of the large cap stocks have indicators showing them in oversold conditions and ready for a bit of a run up. I would rather monitor things at this stage.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3891
Registered: 11-2006

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 12:17 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

It is always worthwhile looking at opposing views on a subject. It may be worth your while to read the following article. http://www.safehaven.com/article/17992/sp-950not-so-fast


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
paddy
Member
Username: paddy

Post Number: 1830
Registered: 03-2008

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 12:26 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Rudy :

These are my thoughts on the Daily SPX 500 Index. I
had to modify the Descending Channel Chart by removing the
CCI and SSTO indicators as IC stated drawing was too big .


The indicators CCI [9] and CCI [20] are both above
the -100 level although the CCI [20] is just barely above .

The SSTO has made a positive crossover and is poised
to break above the "20 level ".

The Index Price stopped short of the upper boundary
[1068 ±] of a short term Descending Channel .

The horizontal lines shown on chart are L2 and L3 Fibonacci Levels that the Index Price might attain.

To me, the data suggests that this last Up Leg has not
been completed and will be so on Monday . If so, the reversal may be in the form of a "whiplash" or " Kiss of Death " .

On the next down leg if 1008 is broken to downside then
the Index Price could go to 943 ± .


Adios

Paddy



SPX Descending Channel Daily Chart 27082010





Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3892
Registered: 11-2006

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 12:44 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

More food for thought.




As I mentioned previously, I am bearish over the next 2~3 weeks so any position trader would be okay in my view. A swing trader however could find themselves in a few problems.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3893
Registered: 11-2006

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 12:50 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Barry,

I would think tomorrow night should tell us the story. That 50% Fibonacci extension level appears to have bee a strong support. Either the Slow Stochastic and double bottom is correct or the overhead descending trend line will win out on the day.






I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
paddy
Member
Username: paddy

Post Number: 1831
Registered: 03-2008

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 12:57 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Rudy :

Second post as IC would allow two charts on same post . Something about too big .

An addition - to me, your 30 minute contracting wedge
is a micro Flag Pole - Flag - Pennant pattern that is BEARISH . The critical level is 1062± and the initial drop should be down to 1042±.


SPX Micro Flag Pole - Flag- Pennant Pattern





Paddy


Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3894
Registered: 11-2006

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 01:30 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Barry,

You will find that I said much the same thing in my post 3889 only I called it a contracting wedge pattern.

The contracting wedge pattern is a great failure pattern to help your cause especially with the overhead resistance close by.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 170
Registered: 02-2010

Rating: N/A
Votes: 0


Sunday, August 29, 2010 - 06:56 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



As I have taken a ‘Position Trade’ on TZA (3x inverse of RUT) and a few others 3x Bear ETFs, I am taking my lead from the Monthly, Weekly, & Daily Charts which continue to support a bearish position. I took my position at the top of the cycle at SPX@1129 level. I plan to exit the trade at the completion of this fifth wave leg south, and when the longer term charts signal a sell.

On an EW count, the latest rally appears to be in the completion stages of a wave iv pattern. On my EW ‘Nesting Scenario’ (see above), we might be seeing the completion wave ii of 3. The final Friday rally on the SPX did end in a bearish wedge that would fit in fine as the final wave up, the channel is still intact, and no higher highs were made. Rising Wedges and Ending Diagonals are patterns that normally have a very sharp reversal to them so I would expect that the SPX would sell-off hard Monday to keep the count alive. There are also negative divergences on the charts where the RSI has peaked before the peak of the SPX, meaning momentum is waning. The 15 minute chart is also in over-bought territory, all reason to suggest a reversal Monday. I am looking for the SPX perhaps to close the previous gap, and reverse around the 1069 mark, after tagging the descending trend line. If the ‘Nesting Scenario’ is in play, then we may have a fast trip to the 1000-1010 level.

On the 60/30/15 minute Charts the TA indicators are obviously supporting the counter rally move, as they did in the earlier wave ii pattern.

One Chart that I keep an eye on is the $NYSI. Previous highs & lows were generally indicated. At the moment this chart is still very much in a bearish alignment, so for my ‘Position Trade’ I’m still in my ‘short’ zone - no reason to be bullish just yet!

Rapidly falling USA GDP, rising National Debt & Deficit, rising Unemployment, and with most other US economic indicators showing bearish outcomes - I'll stay connected to my bearish position for now.





Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3895
Registered: 11-2006

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 08:37 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

I hope you make a motza mate.

Like you, I remain bearish in the next few weeks but then we part company. We are going to be coming to crunch time in the next couple of months. Either the Prechter scenario will come true and the market will break through the March 2009 lows or my scenario of a completion to the current correction occurs and we have another multi-month level rally before finally succumbing to the savage decline in the markets sometime in the first half of 2011.

As Ken so kindly privately pointed out after receiving my market wrap this week end, if we get a Triangle pattern for Minor wave B then we will have an early indication that the Prechter scenario is wrong and my scenario is likely to be proven to be correct.

For those who don't get my market wrap the following diagram shows what I am saying.




If we have a few days rally at this stage we would be forming Minute wave circle e of the Triangle pattern.

Now there are two ways to the bottom of what I believe is a corrective move rather than a large impulse wave down to hell as Prechter would have us believe. The first way is an impulse move down that is the final Minor wave C move down. Refer to the following chart for the XJO.



Now if that 3 wave circle abc scenario for the formation of Minor wave B then we instead will be forming a Triangle patter for wave B as is shown in the following scenario.




Now for the above pattern to be put in place it does not have to reach the upper boundary of the contracting wedge because we can get both "Throw Overs" and "Throw Unders" occurring. What would determine if a leg circle e had been put in place is if we got a 3 wave pattern in the rally that we are currently forming.

Now in the Prechter scenario, where I have a Minor wave B, he has a Minor wave 2. The reason is that in my scenario, I believe we are forming an ABC corrective move down whereas he believes that we are in the early stages of a huge impulsive move down.

So whereas the two scenarios I have painted are for a corrective move, they could equally be applied to an impulsive move as in the Prechter scenario. Now comes the cruncher. If in the Prechter scenario his second wave is forming a Triangle pattern, then larger pattern being formed cannot be an impulse wave because the second wave in an impulse wave CANNOT be a TRIANGLE. Refer to the rules for a wave 2 of an impulse wave pattern in the attachment below.



application/vnd.openxmlformats-officedocument.wordprocessingml.document
elliott wave rules and guidelines.docx (21.0 k)



Thanks Ken for pointing that out.

So Billy boy, in order to maximise your profits you had better hope that this rally doesn't form a circle e leg.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
ken
Member
Username: ken

Post Number: 681
Registered: 04-2003

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 09:27 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Rudy,

With the one and a half percent change in the AUD since 4pm Friday, I am expecting that ETF Gold will open at 13370 approx. Is this consistent with your count?

Ken


Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3896
Registered: 11-2006

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 10:16 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Ken,

I believe that we have been in a B wave rally at the higher level and that if it hasn't already done so then it won't be much longer before we move down in the C wave.

So that's the picture at the higher level. Unfortunately I'm finding ETF GOLD a bit difficult to read at the lower levels at this point in time. Most things seem to point to the fact that the move should be over but my gut tells me that there is still a possibility that there may be one more leg up in a few days time.

We can see from the chart below that it has well and truly fallen out of its up trending channel and today's fall down to the $133.70 level will accentuate that fall even further. I personally would find it difficult to stay in the stock at this stage but an upward move in ETF GOLD once we get rid of this rally in the equities market would not surprise me at all as I expect that when the equities market does start to fall it will do so with some gusto. I think that this leg up is a 'head fake' personally to suck in as many bulls as possible.






I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3897
Registered: 11-2006

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 10:50 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



XJO Price Action Today

Wow that was an enthusiastic move. To form the 3 wave move that I would be looking for I would expect a move to one of the 3 target levels and then a retrace perhaps to the 4400 level before a final move up in the final leg of the 3 wave move to around 4500~4550.



Of course now that I have painted that pretty picture it has greatly reduced the chances of it happening.

Unfortunately I will be heading off in a half hour for a day of birthday celebrations (not mine ) so I'll miss out on all the fun.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 171
Registered: 02-2010

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 12:55 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks Rudy for explaining the options as you see them.

If the SPX has a concerted September rally, I will just have to be patient to reap any rewards. You have to be in it to win it, that's how I see it! Plan the Trade and Trade the Plan...

I try to keep an open mind on all the main EW counts, to provide a potential path for the markets to take. I am not persuaded by any one particular count. I can see the validity to most of the counts. I take fundamental analysis into consideration at all times. I do not trade using EW, to me its a guide.

At the moment most (but not all) EW counts are bearish particularly on the US markets. The connection between the current bearish US economic outlook and the bearish EW counts appeals.

I can see from a fundamental point of view how a Prechter type disaster could eventuate in the USA - quite easily: Debt & Deficit out of control; a rapidly declining GDP; unemployment and underemployment rife; the list is endless...

Equally, if we have some 'miracle' turn around in USA's economic fortunes in the short term, such as further unsustainable expansive government stimulus, we could see a multi month rally before the ultimate collapse.

As for the Prechter Count, I assume that if we have a September Rally his count will reposition the completion of Wave 1 to the 1010.91 & Wave 2 to the next high, to enable Wave 3 still to occur. Perhaps something like this?



I try to look what the next month will bring, and not try to get wedded to a scenario beyond that. Many of these Scenarios can be re-counted to become valid once again, so I use EW for a guidance to the short term, and not beyond.

The gross price movement and time of Waves 2 and 4 (my ii of 3) are now very similar (30 points & 3 days), so the pattern to me can still complete. Other indicators such as $NYSI seem to suggest it will - so I'll bunker down tonight to see what happens! The trend's my friend for now...


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 172
Registered: 02-2010

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 01:41 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)





The DOW tonight looks set to either hit the declining trend line and for the Full Sto to roll over above the 80 to commence wave 5, or break through the trend line and march higher....


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 173
Registered: 02-2010

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 02:47 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Just checked out the August monthly performance figures on my Bear ETF's based upon the low/high price.

The two consistent performers are once again TZA & FAZ - these are the two I am in, plus DRV & MWN.

TZA 45% Daily Small Cap Bear 3x Shares
FAZ 38% Daily Financial Bear 3x Shares
ERY 36% Daily Energy Bear 3x Shares
DPK 32%
TYP 32%
DRV 29%
MWN 27%
BGZ 27%
EDZ 25%
LHB 26%

The US Small Caps & US Financials lead the US markets up and down, so TZA & FAZ are always the winners in a sell off.


Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3899
Registered: 11-2006

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 03:51 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

Your new count for a new high for Prechter label 2 is correct if we had another multi-month rally.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3900
Registered: 11-2006

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 04:28 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hey Ken,

Not sure if this is the outcome of too much Southern Comfort and Coke today but looking at ETF GOLD there is a slight possibility that the pattern below could play out if the equity market tanks over the next 3~4 weeks.




I told you this morning that I had a real problem with the EW count for the lower level waves. That is because we had such a large run up to the current squiggle pattern that is in play. It looks like it could be a lower level corrective pattern in the larger wave B. The pattern above looks more symmetrical to me from my semi drugged state. The other possibility is that we could be forming a bearish expanding triangle as the final circle c leg.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 174
Registered: 02-2010

Rating: N/A
Votes: 0


Monday, August 30, 2010 - 07:10 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Interesting to see that all these Indicators are still bearish and heading south, and have some way to go to get to the range seen in June & July lows:







The SPX 60 min High/Low is at the top of its range, with lots of grey sky below back to 1039. A similar situation as 16 August, at the completion of Wave 2? RSI's topping out?





And finally, Rudy, SPX futures are tonight showing 1068.60. The bottom of Wave (i) was 1069.49, if we rise above this a recount will be needed. They are giving 'Ralph' (EW) a push!


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 176
Registered: 02-2010

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 08:04 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



As expected, the bearish wedge pattern from Friday’s trade broke down at the open, and the SPX sold-off 1.47% in a series of stair-steps that headed lower all day.

The price action carved through the EMA 50, 20, 10 and finally the MA 200, with the moving averages now in a total bearish alignment on the 5, 15 & 60 minute and daily time frame.

A Head & Shoulders set up in the afternoon session, and a breakdown occurred later in the day, with a more active sell off at the close.

We are in wave 4 of 5, or we are commencing an initial pattern of wave iii of 3 on my ‘Nested Scenario’.

A break below 1039.70 would open the doors for a test of the 1010 lows.





Top of pagePrevious messageNext messageBottom of page Link to this message
paddy
Member
Username: paddy

Post Number: 1832
Registered: 03-2008

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 08:58 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill : I'll leave the EW interpretation to you and
Rudy .

To reach your projected downside target of 1010
the Index Price has to do the following from a
Fibonacci viewpoint .

Today 1056.04 was taken out so the next major
downside target is 1035.48 .

Once that fails then 1025.19 and 1018.84 will be
on the "menu" . Once they are gone then 1008.55
will be given the task of providing Support.

Have a good day


Paddy


Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3901
Registered: 11-2006

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 10:00 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bill,

As previously posted, the SPX appeared to be more bearish than the XJO especially with that bearish contracting wedge pattern on the SPX. It is the XJO that had a lot of normal TA indicators pointing to a short term rally that could potentially form a Triangle for Minor wave B. It will be very interesting to see what happens today.

In the meantime there are a myriad of ways of giving the SPX an EW count. The one that I'm going for at present is the following count.



I still stick to the view that the Prechter scenario of taking out the March 2009 low has a very small probability of coming to fruition because the 4 year cycle is still in an upward trajectory until the second quarter in 2011.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
market_mad
Member
Username: market_mad

Post Number: 452
Registered: 09-2009

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 10:24 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Latest from EW;

A third wave down at a small-degree of trend started at Friday's late-day high. The implication is that prices will continue to work lower over this week. Seasonal forces remain positive, but, so far, the wave structure is indicating that the main path is down.

Our view from Friday night's Update was this: "Based on the wave structure, odds favor that wave (iii) of iii (circle) down will start early next week." The S&P futures peaked last night at 1072.50. The pit-session for the blue-chip indexes opened lower, bounced briefly, then rolled over and stair-stepped lower throughout the day and into the close. The decline means that wave (iii) down is underway. The Dow made its wave (ii) high at 10,159.90 Friday afternoon, while the S&P made its wave (ii) high at 1065.21, also on Friday. Under this interpretation of the wave structure, prices cannot rise above Friday's highs on any reactionary bounce. Thus, we now have a definitive level in which to judge the current wave "count."

Wave (iii) should quickly draw prices below the July 1-2 lows at 9614 (Dow) and 1010.91 (S&P), respectively. It appears that the wave structure is trumping the positive seasonals, so we will stick with the pattern until it deviates from our top scenario. How will we know? Very simply, if prices rise above Friday's highs, wave (ii) up will still be unfolding, per the alt. line at the bottom of the two charts at the top. This alternate potential would mean that the positive seasonals were holding prices up for most, if not all of this week.

One piece of technical evidence that supports our interpretation of the pattern is today's closing NYSE advance/decline ratio of .28:1. In other words, there were 3˝ stocks down on the day for every 1 that was up. This was the strongest downside a/d ratio since August 19 (.23:1), which was the "kick-off" of Minuette wave (i). If wave (ii) up were still unfolding, odds would have favored a milder a/d ratio than today's. Total NYSE volume was again non-existent, with just 809 million shares traded (CQG data), which makes today the third slowest trading day of year. Of the volume that did occur however, 93% was on the downside. There is a slew of economic data being released this week and it's possible that the combination of these events with the final week of "summer" has led to the current volume hibernation. A third-wave decline at several degrees of trend should fully awaken the bear.

The NASDSQ Composite closed within 3 points of a new closing low for Minor wave 3. Prices had no interest in closing the open gap at 2159.60, which may speak to the inherent selling pressure present in the market. The Composite's wave (ii) high topped at Friday's 2154.90 high. Wave (iii) should quickly draw prices beneath the July 1 low at 2061.10, where selling intensity should pick up. Once this low is pushed aside, the next target thereafter surrounds the 1900 level. Friday's high is the key to the wave (iii) interpretation. Any reactionary bounce must end beneath this high, or we will adjust our stance to the view that wave (ii) still has some residual life over the course of this week.

Last Wednesday's spike to 109.34 intraday in the [iShares Lehman 20+Year Treasury Bond Fund (TLT)] marked a near-perfect Fibonacci 62% retracement of the decline from 123.15 to 87.30. This level, when combined with an extreme in bond market optimism, was an ideal candidate to indicate that a trend reversal was at hand. But the decline from Wednesday's 109.34 high to Friday's 105.20 low has traced out only three waves thus far, which does not allow us to confirm a top. Instead, we have to allow two opposing options, unfortunately. The first option is that prices are tracing out a series of ones and twos from Wednesday's highs, which is very bearish. This pattern would indicate significantly lower prices in the weeks ahead, with the very first target below 100. A break of Friday's low would greatly increase the odds for this outcome. The other option is that an "A-B-C" decline ended at Friday's low, which would mean another push that carries above 109.34 prior to the end of the bond rally. At the moment, we must await a break of Friday's low (105.20) in order to confirm the top. As long as this low holds, it is a 50/50 proposition that a high is in place. Even if prices poke above 109.34, the bond rally still remains in its very latter stages. We will report any new information in Wednesday's Update.

There is nothing new to add to Friday night's comments with respect to the major currencies that we discuss. The [U.S. Dollar Index] continues to subdivide higher in Minute wave iii (circle), while the [Euro] works lower in the same wave position. Near term, there remains variability as to the best way to interpret the structure, but all top options indicate that the dollar's uptrend and the euro's downtrend are far from complete.

There is no change in our near-term scenario for [Gold]. Prices are at the top end of the retracement zone for wave 2. This wave count indicates that gold should roll to the downside now. One of our daily momentum oscillators remains in position to confirm the turn, but prices first must close lower. A break of Tuesday's intraday low at $1210 would be a signal that wave 3 down has started. If gold exceeds the $1265.60 high on June 21, the current wave 2 interpretation would be negated.

Cheers
MM


Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3902
Registered: 11-2006

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 11:48 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Correction to previous SPX EW count

Hi Folks,

I was reviewing my earlier post and noticed that there was an error in my EW count. The way I previously labeled wave circle iii it only had a pattern with 2 impulse waves rather than 3 impulse waves down in the leg.



To correctly label this we would have to have an extended wave (i) as shown in the following chart.



The obvious alternative to this labeling would be for Minute waves circle iii and circle iv to be waves to be a set of "nested waves" (i) and (ii). If this were the case then we would end up with a number of nested wave 3's cascading down dramatically from this point onward.

The latter circumstance would become very obvious in the coming weeks because the fall would be quite dramatic and the price action would drop down through the lower boundary of the descending channel shown in red dashed lines.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

Top of pagePrevious messageNext messageBottom of page Link to this message
market_mad
Member
Username: market_mad

Post Number: 453
Registered: 09-2009

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 12:08 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Rudy,

I agree that the XJO does look more bullish than the SPX which looks very bearish.

Do you still think it is possible for the XJO to get up to 4500 if the S&P cascades downwards from here? I wouldn't have thought so.

Cheers
MM


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 178
Registered: 02-2010

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 12:41 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi Guys

Thanks for the EWI update MM - always interested to read what the EWI interpretation is for the current action. I did not appreciate that they were in a 'nested' count as well. If we are in a wave iii of iii (circle) things must hot up pretty soon!

I've logged in your SPX numbers Paddy, so thanks for those. Randall's Astro Numbers are 1049, 1022, then a stronger level at 990 (+/ - 6) - the 'spooky' numbers are pretty wild, Pollyanna stumbles every time she approaches or crosses them.

Thanks for your charts Rudy. On your post 3902, I can spot the differences in your corrected count. Could you explain 'the rules' relating to the continuation count - i'm a bit vague on that knowledge? Also, if your circle (v) pattern concludes how do you see the pattern from there? I guess an ABC might be favorite....what's your thoughts?

cheers

bill


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 179
Registered: 02-2010

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 01:03 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



TARGETS FOR SPX

hi again Rudy

It is interesting to note that wave circle (i) of your count was c 60 points, whilst wave i of iii (circle) of the 'nested count' is also c 60 points, giving a potential target for this next wave on both counts to c 1004.

I assume the counter rally will look similar to both counts, as will the subsequent next dip south - it might take several waves to determine which count we are on, as both will be valid for some time to come.

Is that how you see it?

Bill


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 180
Registered: 02-2010

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 01:10 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi Guys

Thanks for the EWI update MM - always interested to read what the EWI interpretation is for the current action. I did not appreciate that they were in a 'nested' count as well. If we are in a wave iii of iii (circle) things must hot up pretty soon!

I've logged in your SPX numbers Paddy, so thanks for those. Randall's Astro Numbers are 1049, 1022, then a stronger level at 990 (+/ - 6) - the 'spooky' numbers are pretty wild, Pollyanna stumbles every time she approaches or crosses them.

Thanks for your charts Rudy. On your post 3902, I can spot the differences in your corrected count. Could you explain 'the rules' relating to the continuation count - i'm a bit vague on that knowledge? Also, if your circle (v) pattern concludes how do you see the pattern from there? I guess an ABC might be favorite....what's your thoughts?

cheers

bill


Top of pagePrevious messageNext messageBottom of page Link to this message
billt
Member
Username: billt

Post Number: 181
Registered: 02-2010

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 01:24 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



SPX Targets

Novice mistake there Rudy....

iii of (iii) target might be;

1. 100% extension of wave i of (iii), so that's 60 points off 1039, giving 979...or

2. 1.61x 60 = 100 points wave length from 1065, giving 965.

Although it would not make your count invalid, I guess it just makes the probability of a 'nested count' more favorable once we get through the 1004 level?

bill







Top of pagePrevious messageNext messageBottom of page Link to this message
rdumas
Member
Username: rdumas

Post Number: 3903
Registered: 11-2006

Rating: N/A
Votes: 0


Tuesday, August 31, 2010 - 02:07 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi MM,

I also thank you for the EWI comments.

I would agree with you that if the SPX started falling dramatically from here then the XJO would get sucked down as well in the vortex created.


I've given you my view based on what I know now. In another 5 minutes that view might change because of additional information. It's the best I can do - Rudy

 
Other Threads  
Last PosterPostsPagesLast Post
Elliott Wave Watching » Archive through October 21, 2010billt50 21-Oct-10  05:41 am
Elliott Wave Watching » Archive through October 15, 2010billt50 15-Oct-10  11:42 am
Elliott Wave Watching » Archive through October 11, 2010skyhawk50 11-Oct-10  08:13 am
Elliott Wave Watching » Archive through October 06, 2010rdumas50 06-Oct-10  02:09 pm
Elliott Wave Watching » Archive through October 03, 2010skyhawk50 03-Oct-10  01:59 pm
Elliott Wave Watching » Archive through September 30, 2010billt50 30-Sep-10  02:12 pm
Elliott Wave Watching » Archive through September 23, 2010rdumas50 23-Sep-10  01:29 pm
Elliott Wave Watching » Archive through September 20, 2010rdumas50 20-Sep-10  03:40 pm
Elliott Wave Watching » Archive through September 17, 2010rash50 17-Sep-10  09:55 am
Elliott Wave Watching » Archive through September 16, 2010market_mad50 16-Sep-10  10:46 am
Elliott Wave Watching » Archive through September 14, 2010market_mad50 14-Sep-10  10:20 pm
Elliott Wave Watching » Archive through September 12, 2010rdumas50 12-Sep-10  07:36 am
Elliott Wave Watching » Archive through September 06, 2010billt50 06-Sep-10  04:59 pm
Elliott Wave Watching » Archive through August 27, 2010billt50 27-Aug-10  10:16 am

Threads by Last Post Time:

First Previous 5 6 7 8 9 0 1 2 3 4 5 6 7 8 Next Last

Administration Administration   Log Out Log Out    

««  «  Previous  Next  »  »»