THE FUTURE

THE FUTURE
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Wednesday, January 20, 2010

Elliott wave recognition


Chart from Daneric public charts

Remember recently there was a problem identifying the Elliott wave

AND NOW

it is becoming much more recognizable as the wave completes the exhaustion 5/5/5

Jay

23 comments:

Jay Strauss said...

ACTIVITY index has been HIGH all day at the 400 level and had been climbing from 7am

Helge has a last hour rebound, as does both Coy's & my charts

Ive still got indications of an open high Friday- which doesnt have to be higher than 1150, but could be.


and it could last till 3pm, but we wont know that until the propens index gives me a reading on the 20th.

remember the MATH model shows potential to 1166, but it doesnt have to get there


My game plan is to get short on the 22nd after the open and or by 3pm

Jay

RickyBobby said...

MKT: SIMON says 3 leg peaks on 1/19, 1/22, 1/25, as advertised; one down, two to go :-)
about 19 hours ago from web MKT: bulls can accumulate down to 1123 SPX; if not comfortable, then 1132 is the pivot line again; SPX 1170 forms above 1140 on daily level
10:08 PM Jan 18th from web MKT: we don't care


Simon agrees

samamehta said...

Good plan Jay. Friday or Monday will not be higher than 1144-1145. great time to load up shorts

rrman said...

Yeah Jay Friday looks like a gap up and sell at the open I 'm trying to figure out how monday can be one of flash's highs looks like down all day friday Helge looks like there might be a wave after the open on monday that could pop us up i guess and make a quick high before falling back but it sure looks like a strong downtrend from friday on so would be hard to pop to a new high but the ppt is tricky they might want to flush out the bears on monday before the big down..

rrman said...

looks like most of the big move to the top of the channel will be after hours tonight...tomorrow looks pretty flat for the trading hours...huge gap up then fairly flat

RickyBobby said...

samamehtta,

If u dont mind me asking, how do u know 1145 resistance will hold?

tia

RickyBobby said...

Speaking of gaps. Should be a nice one tomorrow morning me thinks.
Up I presume.

Jay Strauss said...

Hi Sam

hanging around 1150 till Friday is fine with me

Im waiting

actually the 27th says green light till mid day, but the collapse after mid day should be very bearish

Flash says he expects the mkt to head lower from the 2nd to the 9th
Personally, I think he will be disappointed with that outlook

Ive already FEb posted 2nd Fibo timing

Jay

Jay Strauss said...

Ricky
Yeh, if they dont shoot the moon at close today, then tomrrow AM has good shot to open higher

Jay

Reza said...

EBAY after hours - looks positive earnings

RickyBobby said...

good point Jay. Well, It might be a good strategy to fade a gap higher tomorrow....IF it's up. Otherwise opening decline is the good fade.

samamehta said...

Ricky, I am not an expert on this. I follow some very good Ewrs who think top is in and any attempt to new high will fail.

Flash' three leg still could happen without violating 1145.

we may retest today's low and give an opportunity to make two minor highs --- all within 1145

Just based on an educated reach of others

RickyBobby said...

thanks Sam

to said...

1/20/2010 is co-relational to:
6/19/2009
8/14/2009
8/28/2009
9/30/2009
10/20/2009

to said...

per my morning post we got our co-relational low on the S&P of 1129 (1111) at 11:11 est and keeping with the ritual the crooks closed the S&P @ 1138 (1111)

everything is in divine order

rrman said...

Here's zigzag's T chart shows 22nd as a high on this trip then a pullback to the 29th

http://dl.dropbox.com/u/312885/Screen%20shot%202010-01-20%20at%201.03.47%20PM.png

RickyBobby said...

rrman

nice chart. L00ks like a megaphone pattern top.

DJB said...

rrman,

Does this chart say 1150 on Jan. 22?

Reza said...

Ebay up $2/9% up after hours

rrman said...

Yeah DJB sure does....welcome to the site

after8 said...

for what its worth,a system i use is telling me tomorrow is a trend up day-all day! fading the gap might not be the best idea,i might be wrong but the stats are saying not.

DJB said...

thanks rrman!

Jay Strauss said...

Hi DJB
welcome aboard
Still think 1150 has ONE MORE time

the new DAILY graph is posted for the 21st, and it shows a mid day drop off- making one more 1150 somewhat doubtful

Jay