Last night on the BLOG I think I counted one Bull, evereyone was
bearish, when you see that generally you get some kind of pop
Honestly when the indexes fell to the bottom of the triangles on
Monday, that would have been an objective Long with a tight stop
i.e. buying at support.
In the short term we are a little overbought now intra day
Posted by daddyturtle on 4th of Feb 2009 at 11:14 am
"Honestly when the indexes fell to the bottom of the triangles
on Monday, that would have been an objective Long with a tight stop
i.e. buying at support. "
Posted by airstream on 4th of Feb 2009 at 01:13 pm
Sorry I did not respond sooner just got back . My
count shows a top of wave two at 845.37 area and we start wave
three down . My final low 704.67 by March 4 FWIW
Posted by shellysan on 4th of Feb 2009 at 10:43 am
Am tempted to try SDS at the 61.8 Fib of 853 per Matt's
retracements. However, SPY vol is moving ahead of yesterdays,
and this appears to be a broadbased rally today. On the other
hand, I saw a similar set of candles late last Sept on the SPX
before a major drop, but not sure history will repeat or
not.
Am watching an inside candle on the 5 min now to see how it
plays out, that might set my short. 848.56 is the low of the
deciding candle.
SDS
Posted by Jim on 4th of Feb 2009 at 10:19 am
Anyone taking SDS long in here?
SDS
Posted by airstream on 4th of Feb 2009 at 10:29 am
I just took SRS and SDS Big drop a comeing IMHO
Last night on the BLOG
Posted by matt on 4th of Feb 2009 at 10:44 am
Last night on the BLOG I think I counted one Bull, evereyone was bearish, when you see that generally you get some kind of pop
Honestly when the indexes fell to the bottom of the triangles on Monday, that would have been an objective Long with a tight stop i.e. buying at support.
In the short term we are a little overbought now intra day
"Honestly when the indexes fell
Posted by daddyturtle on 4th of Feb 2009 at 11:14 am
"Honestly when the indexes fell to the bottom of the triangles on Monday, that would have been an objective Long with a tight stop i.e. buying at support. "
Nice hindsight!
nice... let the mkt decide...
Posted by gan_ on 4th of Feb 2009 at 11:44 am
nice... let the mkt decide...
SPX
Posted by mamaduck on 4th of Feb 2009 at 10:50 am
Matt, do you see any divergences on the SPX yet?
Only divergences on the 1
Posted by dodgerdog on 4th of Feb 2009 at 11:12 am
Only divergences on the 1 minute charts at this time
Title: UPDATE Steve: Nice short update
Posted by finam on 5th of Feb 2009 at 07:54 am
Steve: Nice short update tonight.
To the point. We don't need a ton of charts. FinaM
Anything in the charts clueing
Posted by markwes1 on 4th of Feb 2009 at 10:33 am
Anything in the charts clueing you into a short?
Decline
Posted by airstream on 4th of Feb 2009 at 01:13 pm
Sorry I did not respond sooner just got back . My count shows a top of wave two at 845.37 area and we start wave three down . My final low 704.67 by March 4 FWIW
Do you have a chart
Posted by frank on 4th of Feb 2009 at 01:19 pm
Do you have a chart with the wave counts on how you came up with a low for Wave 3 ?
Decline
Posted by airstream on 4th of Feb 2009 at 01:35 pm
I just looked at Matt's 10 Minute dynamic chart and It is exactly what I see . We now start a wave 3 down to the 747 area on the S&P IMHO
Keep posting Airstream. You keep
Posted by Peridot on 4th of Feb 2009 at 01:49 pm
Keep posting Airstream. You keep me focused. p.
Decline
Posted by airstream on 4th of Feb 2009 at 01:30 pm
That low is for final wave 5 Target for wave three is 747.36 and the chart is a friends and he prefers not to distribute it. Sorry
Am tempted to try SDS
Posted by shellysan on 4th of Feb 2009 at 10:43 am
Am tempted to try SDS at the 61.8 Fib of 853 per Matt's retracements. However, SPY vol is moving ahead of yesterdays, and this appears to be a broadbased rally today. On the other hand, I saw a similar set of candles late last Sept on the SPX before a major drop, but not sure history will repeat or not.
Am watching an inside candle on the 5 min now to see how it plays out, that might set my short. 848.56 is the low of the deciding candle.
I'm long short but not
Posted by cspirit on 4th of Feb 2009 at 10:21 am
I'm long short but not SDS