Hard to see on the chart, but there are hashmarks that should
"hold" any W4 pullback for the W5 up to materialize. (these are
just FIB levels really.) As each are reached or passed to the
downside the W5 becomes less likely to form.
This from the developer:
We also created the Wave 4 Channels, which show up as three
lines on the chart (blue, green and red). During a Wave 4
retracement, we would like to see the prices hold above the blue or
green channels. Based on statistical observations, this provides 70
percent favorable odds for a quick move to new highs.
SPY Daily from the GET Platform
Posted by Peridot on 16th of Sep 2010 at 09:17 am
Same projection as last nights update
Posted by RM686 on 16th of Sep 2010 at 09:44 am
Chart pullback and advance same as the chart on last nights update by Steve.
Since you have been using this program could you give us an estimate of what percent of the time these projections are correct?
Hard to see on the
Posted by brophy on 16th of Sep 2010 at 10:22 am
Hard to see on the chart, but there are hashmarks that should "hold" any W4 pullback for the W5 up to materialize. (these are just FIB levels really.) As each are reached or passed to the downside the W5 becomes less likely to form.
This from the developer:
We also created the Wave 4 Channels, which show up as three lines on the chart (blue, green and red). During a Wave 4 retracement, we would like to see the prices hold above the blue or green channels. Based on statistical observations, this provides 70 percent favorable odds for a quick move to new highs.
hope that helps
Broph
GET retracement
Posted by dallassteve on 16th of Sep 2010 at 10:52 am
Thanks brophy,
Had to look hard to see the blue and green hashmarks. Looks like around the 111 and 109 levels on the SPY.
I'll be watching carefully. Looks like GET is favoring Matt's scenario of a shallow pullback and then a push higher.