perthx - keep an open mind - but that count is a certainly
possible in that we have YET to see any real selling.
Hochberg has called about 5 tops now and all have been
mistaken. I'm not sure this count is correct but I suggest
you keep an open mind to the possibility of higher prices. We
can always adjust when there is CLEAR SUPPLY pressure.
Looks like that triangle is breaking out to up side now, or
trying to, anyways.
I mean it doesn't look like a wave 4 to me anymore---time wise
it is longer than 1-3, but who knows.
Seems more likely that 1113-whatever in here is the B wave for
an A wave up from 1084.90... where .618 of that 28.79 pt A wave
takes us to roughly 1120. THAT I can understand.
A big A 'abc' from 1029-1105, a big B from 1105-1084.90 and now
the big C 'abc'.
Someone pointed out to me that there could be one more push into
the 20th for a Gann cycle reversal, 364 days from last years low,
option expiry and all.
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perthx - keep an open
5 min SPX
Posted by steve on 18th of Nov 2009 at 03:41 pm
perthx - keep an open mind - but that count is a certainly possible in that we have YET to see any real selling. Hochberg has called about 5 tops now and all have been mistaken. I'm not sure this count is correct but I suggest you keep an open mind to the possibility of higher prices. We can always adjust when there is CLEAR SUPPLY pressure.
open mind, okay!
Posted by perthx on 18th of Nov 2009 at 03:52 pm
Looks like that triangle is breaking out to up side now, or trying to, anyways.
I mean it doesn't look like a wave 4 to me anymore---time wise it is longer than 1-3, but who knows.
Seems more likely that 1113-whatever in here is the B wave for an A wave up from 1084.90... where .618 of that 28.79 pt A wave takes us to roughly 1120. THAT I can understand.
A big A 'abc' from 1029-1105, a big B from 1105-1084.90 and now the big C 'abc'.
Someone pointed out to me that there could be one more push into the 20th for a Gann cycle reversal, 364 days from last years low, option expiry and all.