Tuesday, September 27, 2011

Market Timing-Whats Next -SPT 27th Morning report= MATCHED closing SPX

Spt 27th at 11:15 am

IT DOES LOOK LIKE THE wave 2 rebound almost made it to 78.6%
2nd waves do seem to gravitate to that retrace quite often,  no matter how short the time period
between tops and projected bottoms

Oct 10th/11th is STILL a good target date for a wave 3 PIVOT low & very tradable for a long
position thru Oct 28th

IN the meantime, INTERNAL energy that bottomed at 4am Monday has TOPPED out.

NOW its just a matter of waiting for some trigger to start the selloff

In wave 3 as projected , PANIC SELLING is expected

check out the structure
wave 1of 3 fell from 1220 to 114 = 106 pts and it was only 4days
Wv 2 of 3 retrace of 78% maxes out at 1196, didnt quite get there, but thats even better.
wv 3 Elliott precepts suggest that it could be 106X 1.618 = 172pts
1192 - 172 = 1010 on GUESS what date - yes 10/10, hmmm

more later

No comments: