Sure did! And it was Deja Vu all over again on the 15 min chart
-- stopped right at the upper end of the channel just like
yesterday -- perfect tags both days -- and each time the regular
sto was overbought and turning down while the 144 Sto was trying to
stick its nose above the 20 line. History repeated.
A more generous interpretation states a five-wave sequence still
can be valid if you allow no
more than 10 to 15% overlapping of Wave 1 and Wave 4 to
occur. During the early stages of
researching the Advanced GET Elliott Wave logic, it was
concluded allowing for the 10-15% overlap
exception statistically is a valid Elliott Wave approach for
improving Wave 4 trading opportunity.
SPX 1
Posted by steve on 28th of Jan 2010 at 03:40 pm
http://stockcharts.com/h-sc/ui?s=$SPX&p=1&b=1&g=0&id=p89666239442&a=156238634&listNum=61
WOW - STOPPED RIGHT AT
Posted by steve on 28th of Jan 2010 at 03:49 pm
WOW - STOPPED RIGHT AT MY TARGET
in and out
Posted by rkelman on 28th of Jan 2010 at 04:07 pm
so you got out of sh and bought sso and then when it hit the target got out
I wouldn't fool with SH
Posted by steve on 28th of Jan 2010 at 04:09 pm
I wouldn't fool with SH for such a small move - trade the futures or a leveraged fund. We put SH on as a swing at 1130.
Sure did! And it was
Posted by puma on 28th of Jan 2010 at 03:56 pm
Sure did! And it was Deja Vu all over again on the 15 min chart -- stopped right at the upper end of the channel just like yesterday -- perfect tags both days -- and each time the regular sto was overbought and turning down while the 144 Sto was trying to stick its nose above the 20 line. History repeated.
Lovely...
Posted by saturn6 on 28th of Jan 2010 at 03:53 pm
Do you reckon thats a wave 4?
I think it's wave iv
Posted by steve on 28th of Jan 2010 at 04:06 pm
I think it's wave iv of 5 of [i] or [A]
Wouldn't that mean...
Posted by saturn6 on 28th of Jan 2010 at 04:14 pm
wave 4 of 5went higher than wave1 of 5?
I know there is a rule that allows for a breach upto 15% in GET.
The exception is an ending
Posted by steve on 28th of Jan 2010 at 04:15 pm
The exception is an ending diagonal Saturn. Otherwise it CANNOT overlap.
The alternative bearish count would be a 1-2 1-2 down which would lead to a MASSIVE selloff tomorrow.
So we have started...
Posted by saturn6 on 28th of Jan 2010 at 04:19 pm
wave 5 0f 5 of [1] or A?
A more generous interpretation states a five-wave sequence still can be valid if you allow no
more than 10 to 15% overlapping of Wave 1 and Wave 4 to occur. During the early stages of
researching the Advanced GET Elliott Wave logic, it was concluded allowing for the 10-15% overlap
exception statistically is a valid Elliott Wave approach for improving Wave 4 trading opportunity.
That's my primary count. Alternative is
Posted by steve on 28th of Jan 2010 at 04:25 pm
That's my primary count.
Alternative is a 1-2 , 1-2 down
or
A double zig zag with 1103 being Wave "X"
The last two are even more bearish short term but all point lower.
Watch the TRENDLINES for a STOP.
"Do you reckon that's a wave 4?"
Posted by perthx on 28th of Jan 2010 at 03:59 pm
no that was wave 2 of 5...we are heading much much lower.
Good job...
Posted by saturn6 on 28th of Jan 2010 at 04:00 pm
I cashed my longs in then.
VIX held...
Posted by saturn6 on 28th of Jan 2010 at 03:56 pm
VIX held...