realize that we now have confirmed positive divergence on the 60
min index charts as the MACD lines have crossed up. The 15
min charts suggest we may get a small pullback soon again, but the
divergence on the 60's is something to be aware of
If this is a wave 4, then wave 5 is close at hand and that
should set up some even better pos divergences.
However, from 1129.24-1169.49 is almost equal to 1100.14 to
today's lows at 1039.83. Today could have been the end of a B wave
[A wave being 1010-1129] meaning we might be heading much higher in
a C wave yet to come before the wav 3 really begins.
EW can be so much fun to manipulate back and forth.
Wave C?
wave 4 thoughts
Posted by mdgfain on 25th of Aug 2010 at 02:59 pm
Perthx,
As you know, I'm still learning a lot. Another EW source is calling this Wave C and looking for a turn-around by 1057. Just FYI.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3779195
The call is for [iii]
Posted by thermo on 25th of Aug 2010 at 03:21 pm
The call is for [iii] of 3 of (3) of [C] Bought calls on SDS.
realize that we now have
Posted by matt on 25th of Aug 2010 at 03:50 pm
realize that we now have confirmed positive divergence on the 60 min index charts as the MACD lines have crossed up. The 15 min charts suggest we may get a small pullback soon again, but the divergence on the 60's is something to be aware of
Saw that pos divergence
Posted by perthx on 25th of Aug 2010 at 04:26 pm
If this is a wave 4, then wave 5 is close at hand and that should set up some even better pos divergences.
However, from 1129.24-1169.49 is almost equal to 1100.14 to today's lows at 1039.83. Today could have been the end of a B wave [A wave being 1010-1129] meaning we might be heading much higher in a C wave yet to come before the wav 3 really begins.
EW can be so much fun to manipulate back and forth.
SPX daily
Posted by Michael on 25th of Aug 2010 at 03:56 pm
I could see a bounce from here.
short term calls
Posted by perthx on 25th of Aug 2010 at 03:26 pm
the wave 4 I refer to is part of the wave beginning at 1100.14 which is part of wave 3 of 3 down???
I havent a clue to where you are in your count...
Thanks. Me, too.
Posted by mdgfain on 25th of Aug 2010 at 03:25 pm
Thanks. Me, too.