Here's a 60 min chart of the SPX,
we could put in an ABC bounce back to near 1260, then start another
sell off. Theoretically this whole sell off is wave 3, minor
counts this would be minor wave 2,
Posted by pcampbell66 on 6th of Sep 2008 at 03:24 pm
the FNM and FRE news is a sell the news event...IMO...its BAD,
its STINKY, Paulson lied, and anyone watching objectively will
likely want to hit the sell button since if it stinks bad enough
for every major central bank and buyer of american paper to have
to
conservatorize FNM and blow up all the people
shares...well things must be pretty bad...looking more and more
like a pop and crap...
also...20 out of the last 30 election sept to october trading
cycles have been down...the majority of them substantially.
Great chart matt. Thats exactly where Im at. sure spells
for a lot of blood this month! Amazing to see the bulls come
out in strength talking about black candles on the sds/qid and
doji's on the spy and q's. what flip-floppers! They
quickly forget about a pattern that has been developing for
months...
However, the oscillators appear to be so bullish that I am not
sure where you expect that A-to-B down leg to come from.
Judging from the chart, the market may go directly up to 1260(!)
before dropping.
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S&P 60 min chart.png Here's a
Posted by matt on 5th of Sep 2008 at 04:28 pm
Here's a 60 min chart of the SPX, we could put in an ABC bounce back to near 1260, then start another sell off. Theoretically this whole sell off is wave 3, minor counts this would be minor wave 2,
looks like we are already
Posted by pcampbell66 on 5th of Sep 2008 at 07:55 pm
looks like we are already slightly over 1260 according to the SPY trading after hours... looks like a gap and crap monday...what do you think
A lot can happen between
Posted by matt on 6th of Sep 2008 at 02:32 am
A lot can happen between now and Monday. Don't let Delane influence you
the FNM and FRE news
Posted by pcampbell66 on 6th of Sep 2008 at 03:24 pm
the FNM and FRE news is a sell the news event...IMO...its BAD, its STINKY, Paulson lied, and anyone watching objectively will likely want to hit the sell button since if it stinks bad enough for every major central bank and buyer of american paper to have to conservatorize FNM and blow up all the people shares...well things must be pretty bad...looking more and more like a pop and crap...
also...20 out of the last 30 election sept to october trading cycles have been down...the majority of them substantially.
so true...
Posted by delane on 6th of Sep 2008 at 07:43 am
most money i ever lost was when i listened to someone else and not my own gut
Minor 3 of wave 3
Posted by finam on 5th of Sep 2008 at 06:44 pm
Minor 3 of wave 3 should be some trip DOWN.
Great chart matt. Thats exactly
Posted by cwa82675 on 5th of Sep 2008 at 04:42 pm
Great chart matt. Thats exactly where Im at. sure spells for a lot of blood this month! Amazing to see the bulls come out in strength talking about black candles on the sds/qid and doji's on the spy and q's. what flip-floppers! They quickly forget about a pattern that has been developing for months...
Great chart, Matt. Thanks. However, the
Posted by trader2 on 5th of Sep 2008 at 04:40 pm
Great chart, Matt. Thanks.
However, the oscillators appear to be so bullish that I am not sure where you expect that A-to-B down leg to come from. Judging from the chart, the market may go directly up to 1260(!) before dropping.