Monday, June 06, 2011

Market Timing-Whats Next -June 6th -Visual update

 Maybe these LABELS have more meaning for this very short term wave that started at 1303 without regard to overall wave counts1303          

MY ELLIOTT labels are probably terrible and Im sure some Elliott pro's will lambaste me for it


YOU GET THE IDEA,and IMV, thats more important than labels.



Jay Strauss said...

1pm is NOT producing a match to the 10;15low, and leads me to think they are holding in wave 4, thus the 3pm time slot could turn in the high of the current wave 4.

That would leave wave 5 for tomrrow at 11:30 at 1287 or lower

Once that pivot occurs, then we can get a short term bounce from there back to 1300 , the rest of the day

FINS OFF 8% today, but mkt has not shown as much weakness, YET.


Jay Strauss said...

times today were not exact
but not that far off either

they got to 1285
what does that do technically

1288 is 150 day average- slightly broken

1345- 58 was 1287, slightly broken

1345=95 = 1250, but I doubt that will be tomrrow

95X 78% = 74
1345-75= 1270

Today's psych read was OK till Mid Day which came at 1pm,then it fell apart.

Tomrrow says the AM has a hangover from today, then gets better in the afternoon

from 1317 Friday open hit 1297 count as wave 1
rebound to 1309= wv 2
wave 3 NOW in progress
morrow at 1270 could be seen as wave 3
wave 4 in the afternoon
wave 5 should also break down into 5 waves or extend wave 3 to 1250 by Thsday OPEn, then recover very strong afternoon
rest of that day.

Will try to draw this out as a visual
more later