Possible IHS/ a-b-c correction ...but have to cross neckline. Will bulls have the strength after being beaten with a wooden bat? (Not shs but ihs of cause)
Could see a wave 4 up closing the gap and then making a double bottom and 5th wave ending an expanded flat OR we could see a X-wave that also closing the gap and then make another zig-zag. The line in the sand is 1590 on ES...over and we are doing one of the above standing moves. This ES chart shows fib ratios with a turn at fib 1,27. Above purple line and a X-...
I have made the weekly analysis and this time it's on daily. I see a gold miner stock with potential. Is at the bottom of a weekly pennant making a wave 2 down in an ihs bottom. Has retraced 61,8 from wave 1 top and should be ready to go north. Conformation is everything, so holding 2,80 for the next couple of days and then heading north. I'm in. Safe trading gents! BM
If this is to become reality. SP soon needs to prove itself and make a bounce for the 1670/1675 area. Line in the sand..mid 1590 Nothing can though - at the moment - be ruled out. Remember triple witch is 1 week away so a huge bounce for 1670 on SP would be a move nobody expects. Bears would be taken with full G-string armor on. Two songs come to my mind: Thin...
This stock seems to be in a major triangle that - looking with EW-eyes - have finished wave D (IV). The nmike Trix-Fisher system showes cat ears and trix is turning up on weekly. At the same time the D-wave has created a bullish Gartley pattern.. has turned and now moving upwards For more info on the stock... Go to: www.tanzanianroyalty.com For more info on...
TLT bubble about to burst in august or september? 2 options the way I see it: 1) Dead cat bounce and a break of neckline.... Will give the SP a 5th wave up if so then SP is in a wave 4 (pennant) correction right now. 2) A head test of the SHS.... and the SP will have finished it's A-B-C move from 666,67 and is heading down again. Your choice gents! Safe trading! BM
Clearly in a wave 4 pennant which will give us a hh on the daily SPX/SPY. I will short at ((iv)) d-wave and go long at ((v) e-wave. I will be long until top of wave 3 in the 5th wave up and await for a all in short at around 1700. Safe trading to your all. BM
NEW counts added in comment area !!! Many are going bearish, but we have just been in a very extended move up lately. No serious MA have been broken and many indicators showing possible bounce up today CCI RSI.. NYMO too. So i'm looking for a bounce today - a minimum 50 to 61,8 fibretrace... 1668 to 1672.
Gartley pattern... a butterfly passing by...
An updated weekly chart on the SP500 showing the market symetri. The a-b-c move could set the top here at 1666,39 where the fib ratio is 200. However ... The SP500 is in an parabolic move up right now and could extend with a 5th wave up so that the summer will bring a wave 4 down ..possibly as an pennant and at the same time working off some of it's...
Shorting this evening but could be a wave 4 with a last wave 5 up to 1694 still to come. See my monthly trend channel chart with Andrew pitchfork
Probably 1666,39...see my other chart with a-b-c move heading for the target
The top is in 1661,49 or will be it this Opex-Friday. Look at the chart and see how many things now ad up. I will write some more tomorrow or friday
Unfortunately I can't show you the 15 min chart BUT I have these 2 micro EW-counts to find end target of the SP500 My primary EW-count is an ED (ending diagonal). The wave SP are in at the moment is a wave iii of 5 and can’t exceed the length of wave i of 5 which puts it's maximum at 1564. Thus, we need today an immediately wave iv of 5 drop and it must remain...
Market need a pullback a will do it from tomorrow on. I see 1500ish as a bounce area here SP have horizontal support. Andrew pitchfork shows that SP have reached the top with a median line corresponding well with the 3 peak area in September 2012 and also the area reached due to Fiscal Cliff agreement. Well.... Safe trading gents! I will be short from tomorrow on.