we could have another day up, wave 4 should be ABC up with this
move up beign wave A, then we get a B pullback, then a C up.
Watch the Fibs on the 15 min chart as resistance target
areas. Also keep an eye on 60 period stochastics
Well folks, I know many of you doubted this bull wedge ABC
pattern that I presented yesterday....despite the pullback
yesterday afternoon, all was simply a B wave pullback an now we
will get a gap up for wave C. The problem is that you would
have had to buy end of day yesterday, which would have been very
difficult, heck I didn't even do it, but the wave count played out,
I see that happen a lot
There is not
a feeling in
this market. If you trade using feelings your going to get
hurt however before this sell off 10000-10200 area was lower bottom
channel support THEREFORE its now ress and IMHO bounce traget area
per what charts look like.
SPX 30 min chart
Posted by matt on 7th of Oct 2008 at 02:44 am
S&P 50 30 min chart dynamic
Hi Matt when the time
Posted by fefroes on 8th of Oct 2008 at 02:19 pm
Hi Matt when the time to short again come let us know
we could have another day
Posted by matt on 8th of Oct 2008 at 02:21 pm
we could have another day up, wave 4 should be ABC up with this move up beign wave A, then we get a B pullback, then a C up. Watch the Fibs on the 15 min chart as resistance target areas. Also keep an eye on 60 period stochastics
SPX 15 min chart.png Well folks,
Posted by matt on 9th of Oct 2008 at 08:56 am
Well folks, I know many of you doubted this bull wedge ABC pattern that I presented yesterday....despite the pullback yesterday afternoon, all was simply a B wave pullback an now we will get a gap up for wave C. The problem is that you would have had to buy end of day yesterday, which would have been very difficult, heck I didn't even do it, but the wave count played out, I see that happen a lot
how high do you feel
Posted by dowjones4k on 9th of Oct 2008 at 09:25 am
how high do you feel the bounce will be?
There is not a feeling in this market.
Posted by cspirit on 9th of Oct 2008 at 09:32 am
There is not a feeling in this market. If you trade using feelings your going to get hurt however before this sell off 10000-10200 area was lower bottom channel support THEREFORE its now ress and IMHO bounce traget area per what charts look like.
matt the wave count played
Posted by vmath on 9th of Oct 2008 at 09:20 am
matt the wave count played out exactly as you layed it out yesterday. Great job! Thanks
didn't doubt ya matt...I just
Posted by dylan398 on 9th of Oct 2008 at 09:11 am
didn't doubt ya matt...I just said maybe the bull wedge didn't like being called pretty
GLD
Posted by gigye on 9th of Oct 2008 at 09:05 am
Yes, I missed it too. How about GLD which is now $2 lower than yesterday.
Yes
Posted by ravun on 9th of Oct 2008 at 09:16 am
Matt, you are korreckt, would have taken some guts.
Redrawn, has actually re-tested what was resistance. And again, as you said, this happens a lot.
ravun-really like your charts. tks
Posted by vmath on 9th of Oct 2008 at 09:24 am
ravun-really like your charts. tks for the redraw!
matt, macd in 30min is
Posted by yawang36 on 8th of Oct 2008 at 01:05 pm
matt, macd in 30min is about to cross and if this is start of wave 4, it should run to 1100 in 1-2 days, right?