If you look at this monthly xlf count and are used to looking at
wave 4's on Advanced Get and the Oscillator below - all of it jives
to be a probable wave 4 with a 5th wave down still coming.
Now, I won't get into whether it's the right count, but at
this point in time (to me) it is until it's not. The 2 blue shaded
area to the bottom right is called a Make or Break line. That
would be a probable target for the wave 5. Pretty ugly right?
Of course, wave 5's can end different ways and can be
truncated.
One more interesting point is (now that we can see more clearly)
look how the financials at least tie into the huge wave 3 of '08.
They appear right now,at least, to only be corrective of the
3.
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XLF sticking out like a sore thumb
Posted by simon_says on 9th of Aug 2011 at 05:28 am
Even in the darkest down days of 2008/2009 XLF lay never, ever as far outside its Bollinger Bands as yet.
As per my earlier post, XLF has to hold above 12.0 or else this portends something far, far worse
Long Term Count -Extreme possibility??? Just for Fun :(
Posted by johnc on 9th of Aug 2011 at 06:13 am
If you look at this monthly xlf count and are used to looking at wave 4's on Advanced Get and the Oscillator below - all of it jives to be a probable wave 4 with a 5th wave down still coming. Now, I won't get into whether it's the right count, but at this point in time (to me) it is until it's not. The 2 blue shaded area to the bottom right is called a Make or Break line. That would be a probable target for the wave 5. Pretty ugly right? Of course, wave 5's can end different ways and can be truncated.
One more interesting point is (now that we can see more clearly) look how the financials at least tie into the huge wave 3 of '08. They appear right now,at least, to only be corrective of the 3.