15:38, charts updated, futures started solid buying at 15:00. Looks like we get the ole 10 points pump overnight to force buy programs in the morning to force wave five up.
SPX 5 min triangle Posted by: matt on the 18th of Nov 2009 at 03:46 pmyawn.. there hasn't been a lot of reason to post today, consolidation continues. The triangle is really starting to morph out now
MKT: big move comin as we will not stay in this range much longer; we R not going to defend it intellectually; we will go w the break about 3 hours ago from web
PC ratios tonight are much more bearish than they were yesterday
indicating further weakness ahead for at least tomrrow, the second bradley date this week
Today looked to me like wave 1 down at 10am and the rest of the day and A-B-C wave 2 at close
Jaywiz index yesterday was 1.18 very bullish, and we got nothing today = .40 mildly bearish OEX pc ratio yesterday =1.98 Today = .95
And the 10day TRIn caught up to the 5day sell signal on the 11th now reading 839 which is a strong sell under 1000.
the reading for tomrrow calls for unfavorable day for biz.
SO, we shall see what we shall see AND IT seems the ELLIOTT groupies are ALL bullish, hmmm.
IMO, WE cannot get a v of v to 1120 TOMRROW and the earliest it could occur would be the 25th IF AT ALL however, IVE POSTED THIS SEVERAL TIMES a HIGH on the 25th is a GIVEN, as well as a very sharp retreat from there to Dec1st.
In essence, I see us just touching the 1121 mark tomorrow. When that happens everyone will celebrate, and many will go short, that will either send the indexes into my wave [ii] of Y or alternatively wave B, only to see it burst up in either wave [iii] of Y or C.
Remember next Friday is the biggest shopping day of the year, there is no way that those who control the markets, yes they are no longer efficient, will allow a huge sell-off in front of that, they to do whatever they can to juice the retail sales numbers for the Holiday Season.
If your are incredibly short, they you might want to wait for the pullback in wave [ii] or wave B if the other counts are correct, but be careful because if my count is correct you don't want to be caught short for wave [iii], we are entering a very thin zone up to 1225.
Jay I agree we are running out of time for continuing upside we had the full moon 2 days ago and the 10 day average down/ up waves in each month for the last few months has to kick in shortly the 25th is so far down in the 10 day chart I can't see how it would be a new high it has to be a much lower high .....
I'm Short
ReplyDeletey
Just in case they work today:
ReplyDelete12:45 LOW
15:00 HIGH
Inversion. 15:00 could be a low.
ReplyDeleteCoy
ReplyDeletethanks
y
I'm Long
ReplyDeletey
we have a double low at 1102 so odds are good wave "4" is completed, now for the wave 5 of (5) with 1116-1120 the high odds target
ReplyDeleteLarry
15:38, charts updated, futures started solid buying at 15:00. Looks like we get the ole 10 points pump overnight to force buy programs in the morning to force wave five up.
ReplyDeleteLarry
SPX 5 min triangle
ReplyDeletePosted by: matt on the 18th of Nov 2009 at 03:46 pmyawn.. there hasn't been a lot of reason to post today, consolidation continues. The triangle is really starting to morph out now
Matt Frailey
MKT: big move comin as we will not stay in this range much longer; we R not going to defend it intellectually; we will go w the break
ReplyDeleteabout 3 hours ago from web
The Flash
PC ratios tonight are much more bearish than they were yesterday
ReplyDeleteindicating further weakness ahead for at least tomrrow, the second bradley date this week
Today looked to me like wave 1 down at 10am and the rest of the day and A-B-C wave 2 at close
Jaywiz index yesterday was 1.18 very bullish, and we got nothing
today = .40 mildly bearish
OEX pc ratio yesterday =1.98
Today = .95
And the 10day TRIn caught up to the 5day sell signal on the 11th
now reading 839 which is a strong sell under 1000.
the reading for tomrrow calls for unfavorable day for biz.
SO, we shall see what we shall see
AND
IT seems the ELLIOTT groupies are
ALL bullish, hmmm.
IMO, WE cannot get a v of v to 1120 TOMRROW and the earliest it could occur would be the 25th IF AT ALL
however, IVE POSTED THIS SEVERAL TIMES
a HIGH on the 25th is a GIVEN, as well as a very sharp retreat from there to Dec1st.
Jay
Coy, what takes your email such a long time??
ReplyDeleteI sent you 2 replies to your last one, awaiting your confirmation
Jay
This comment has been removed by a blog administrator.
ReplyDeleteFlashFusion sees Nov.20 HIGH.
ReplyDeleteDon't bet against Simon. It's hazardous to your bank account.
Ben
In essence, I see us just touching the 1121 mark tomorrow. When that happens everyone will celebrate, and many will go short, that will either send the indexes into my wave [ii] of Y or alternatively wave B, only to see it burst up in either wave [iii] of Y or C.
ReplyDeleteRemember next Friday is the biggest shopping day of the year, there is no way that those who control the markets, yes they are no longer efficient, will allow a huge sell-off in front of that, they to do whatever they can to juice the retail sales numbers for the Holiday Season.
If your are incredibly short, they you might want to wait for the pullback in wave [ii] or wave B if the other counts are correct, but be careful because if my count is correct you don't want to be caught short for wave [iii], we are entering a very thin zone up to 1225.
alphhorn
Jay I agree we are running out of time for continuing upside we had the full moon 2 days ago and the 10 day average down/ up waves in each month for the last few months has to kick in shortly the 25th is so far down in the 10 day chart I can't see how it would be a new high it has to be a much lower high .....
ReplyDeleteThis market is done going up. We should gap down hard the way futures are heading.
ReplyDeleteNikkei is down 164 broke key support I wonder whats up....
ReplyDeleteElliotWave Bloggers
ReplyDeleteCongratulations.
THE MAJORITY OF YOU were Bullish and the markets tank overnite. You guys collectively are the best contrarian indicator going and more proof that
Elliotwave does NOT WORK!
ps.
...and pretty much anything that's free...well almost anything--is a sucker magnet for the herd of sheep traders.
Levi
Levi
ReplyDeleteMaking a blanket statement that Elliott wave does not work- does not work
I looked at the same graph and saw the OPPOSITE
Beauty is in the eye of the beholder
as has been written many times.
Jay