It's nice to see this new high on the market, it's needed to
complete that wave structure, we needed another move up to make
wave 5. Many times holidays market inflection points, so may
be next week we finally get a pullback?
As you know, Steve and I have been paying the trend for months
and months, however we are getting to our targeted wave structure
areas, so we are more cautious up here 1290 - 1300. Even
under the most bullish of wave structure, we should soon be
completing wave 1, the 5 wave move up from July was part of a wave
1, but you would get a wave 2 pullback to retrace 38% of the wave
1.
I too believe that we will eventually go back to test
the 1500 level, but do I think we are going strait to 1500 without
a pullback, nope.
It's nice to see this
Posted by matt on 14th of Jan 2011 at 12:39 pm
It's nice to see this new high on the market, it's needed to complete that wave structure, we needed another move up to make wave 5. Many times holidays market inflection points, so may be next week we finally get a pullback?
Really, I don't think so.
Posted by skyscraper on 14th of Jan 2011 at 01:05 pm
This market never goes down, not with Euro crisis or China rate hike, or ANYTHING. Yes we can!
I can't tell if you
Posted by Palladin on 14th of Jan 2011 at 01:08 pm
I can't tell if you are being sarcastic but thats allright. I'm well hedged. Honestly, I'd rather see the market go to 1500
As you know, Steve and
Posted by matt on 14th of Jan 2011 at 01:38 pm
As you know, Steve and I have been paying the trend for months and months, however we are getting to our targeted wave structure areas, so we are more cautious up here 1290 - 1300. Even under the most bullish of wave structure, we should soon be completing wave 1, the 5 wave move up from July was part of a wave 1, but you would get a wave 2 pullback to retrace 38% of the wave 1.
I too believe that we will eventually go back to test the 1500 level, but do I think we are going strait to 1500 without a pullback, nope.
Yes, 1500 is my next target.
Posted by skyscraper on 14th of Jan 2011 at 01:26 pm
Memorial service for the dollar?
Posted by perthx on 14th of Jan 2011 at 01:08 pm
When they have a memorial service for the dollar will it resemble the pep rally atmosphere of the memorial for the Tucson dead?
Yes we can!
Why does a President have to say...
Posted by zach06 on 14th of Jan 2011 at 01:29 pm
"I come here as an American".... just asking?
"I'm from the Government..."
Posted by lessarda on 14th of Jan 2011 at 01:48 pm
It carries the same warning as, "I'm from the Government, I'm here to help..." Words don't have to correspond to reality in a bureaucrat's mind.
1300 next stop seems a
Posted by Palladin on 14th of Jan 2011 at 01:01 pm
1300 next stop seems a given... then the s#itmight hit the fan
my gold shorts worked out but I sold to soon (I think)
I'm still scaling into S&P shorts
Haven't posted much as I've done litte trading except for maintanence and cash control
good luck and stay on your toes everyone