Good call, but what could it do now ? Up = U probability, Down = D probability.

Values of u & d ?

Yep - I agree, I'm with you. Pretty frustrating, but I'm currently enjoying wonderful sailing weather, and when on the water I'm out of touch and can't worry about it !!

Want to make a bet we have seen the last of the action this morning at 10:45 ?

From your favourite TV station:

"The pace of the U.S. economic recession slowed or stabilized in most areas of the country, a Federal Reserve report (Beige Book) said on Wednesday, pointing to a protracted period of weakness even as the economy transitions to recovery.

Labor markets across the country were "extremely soft," with little upward pressure on wages, the Fed said in its Beige Book survey of economic conditions through July 20.

Wages and compensation were steady or falling in most areas, the Fed said.

Thank you ! The more  I use this web site, the more I learn !

In line with not picking tops, I guess it's not a good idea to jump into the market now that I've just got back from an early appointment with the dentist's and just seen the market situation !! Ten to one, if I bought now, the market would roll-over ! I'll just watch and wait. 

What do you label the two waves after e ?

Yeah, I really like the TICK. It helped me make a decision today on the long side at any rate.

I've just noticed URE (which I used today) has crashed from $3.67 to $3.61. I've NOTHING like Matt's set-up, but I do find it useful to have an old laptop (with a wide screen) always pointed to www.freestockcharts.com.

Yes, nice triangle. I acyually noticed it myself before Matt's/Steve's posting. I must be learning something thanks to M&S. Actually made some money today ! 

http://www.amazon.com/Elliott-Wave-Principle-Behavior-Advantage/dp/0471988499?ie=UTF8&s=books&qid=1232423269&sr=8-2

Is it my imagination or is the SPX having difficulty at the 930 level ? High of 29th. Good time to go SDS ?

Woops ! Sorry, they are updating. They must be delayed by 15 mins. Not good. I guess I have to pay more to get up to the minute like Freecharts.

Yesterday I opened an account with Stockcharts and made some Favourites. But they are not updating this morning !! Any suggestions as to what to do ? Using Freecharts in the meantime.

Thanks Matt. Really appreciate your daytime intermediate charts and comments on the SP500.

Now what is going to happen ? The $64,000 question !

Sorry, but I find Matt's comments useful during the day - but then I'm new at this game. (I'm a paid up member !)

I'm a newbie. I've noticed that it appears there is often very little correlation between the direction of the SP500 versus SSO. e.g. this afternoon. Could someone please explain that !!

As a member, but new, could someone explain the bahaviour of the SSO & SDS in the last 5 minutes, i.e. SP500 is going down, but so is SDS and SSO was going UP !

Today the market went up and down like a roller coaster. Since I don't want to spend all my life in front of a terminal, I'm wondering what would be the long term result if I took say $50,000 and each day split it half and half on SSO and SDS with tight trailing stops on both ? Comments would be appreciated.

As a person who tried to do day trading by myself, and lost $40,000, I'd like to say thanks to Matt & co. I have much better direction than I ever had before. And I say to Matt, "you can't please everybody all the time" !! Carry, on, you are doing a great job ! Thanks again.