Posted by dodgerdog on 1st of Dec 2008 at 10:03 am
SPX 60- this count suggest that the
intermediate bottom is NOT in yet. An impulsive break below
SPX 835 area would give credence to this count and suggest the SPX
is headed to 700-720 area to complete Wave 5 down.
Update: Today's action certainly adds credence to this
count and puts the onus on the Bulls to step up to the plate soon
or else back down we go. The selling today was certainly
impulsive with another 90% down day.
This makes sense from a counting perspective except that 4
entered the territory of 1. There is probably some other way
to count this that will show up eventually.
Bearish Count
Posted by dodgerdog on 1st of Dec 2008 at 10:03 am
SPX 60- this count suggest that the intermediate bottom is NOT in yet. An impulsive break below SPX 835 area would give credence to this count and suggest the SPX is headed to 700-720 area to complete Wave 5 down.
Update: Today's action certainly adds credence to this count and puts the onus on the Bulls to step up to the plate soon or else back down we go. The selling today was certainly impulsive with another 90% down day.
Steve, would you post the dynamic 60min SPX & DOW charts for the bullish count?
Posted by srleblanc on 2nd of Dec 2008 at 07:27 am
Thanks!
Is this considered an IMPULSIVE
Posted by poohnana on 1st of Dec 2008 at 03:35 pm
Is this considered an IMPULSIVE move below 835?
Yes it's pretty impulsive obvioulsy
Posted by matt on 1st of Dec 2008 at 03:38 pm
Yes it's pretty impulsive obvioulsy
Title: Wave counts This makes sense
Posted by finam on 1st of Dec 2008 at 01:29 pm
This makes sense from a counting perspective except that 4 entered the territory of 1. There is probably some other way to count this that will show up eventually.
If this scenario is correct,
Posted by poohnana on 1st of Dec 2008 at 01:21 pm
If this scenario is correct, then does that mean we have not started MAJOR WAVE 4 up yet?
Yes, but we would need
Posted by dodgerdog on 1st of Dec 2008 at 01:36 pm
Yes, but we would need to see some more impulsive moves to the downside to suggest that scenario is playing out.
too many bulls looking for
Posted by homer on 1st of Dec 2008 at 10:15 am
too many bulls looking for that big rally. What does that chart suggest, possible retest or break of lows?
Yes, read my comments at
Posted by dodgerdog on 1st of Dec 2008 at 10:17 am
Yes, read my comments at the top of the blog.