zwyss - there was a trade short opportunity on the SPX that was
shown on the SPX 3 minute chart. I pointed out that there was 5
waves down and then was looking for a corrective 3 wave move back
up into the Fibs. This occurred and was followed by another
leg down currently. See my SPX 3 Minute comments below.
There is no instrument to trade the Nasdaq.
Would prefer to see a divergent high on the 60 minute chart or a
lower high form after a larger impulse down for something more than
a quick trade short.
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SPX 3 with Fibs
Posted by steve on 7th of Jan 2013 at 10:14 am
$SPX - Chart Link
Looks like 5 tiny waves down...will now be watching for 3 waves up
here's a 1 min chart
Posted by matt on 7th of Jan 2013 at 12:24 pm
here's a 1 min chart of the wave count that steve discussed earlier when he was looking for an ABC bounce, clearly that played out very well
Bull wedge or channel down? Nasdaq
Posted by zwyss on 7th of Jan 2013 at 10:59 am
Bull wedge or channel down?
Nasdaq today stronger than other indexes.
maybe new highs in the short term and then tanking?
Steve, please advise when good chances for a short (SPX or Nasdaq)
zwyss - there was a
Posted by steve on 7th of Jan 2013 at 12:23 pm
zwyss - there was a trade short opportunity on the SPX that was shown on the SPX 3 minute chart. I pointed out that there was 5 waves down and then was looking for a corrective 3 wave move back up into the Fibs. This occurred and was followed by another leg down currently. See my SPX 3 Minute comments below. There is no instrument to trade the Nasdaq.
Would prefer to see a divergent high on the 60 minute chart or a lower high form after a larger impulse down for something more than a quick trade short.