C wave LOW at 1040, was a loss of 180 pts, = or 2x fibo 89 from 1220
rebound high of spx 1128 rebound to 1039 on the 25th = 89 pts
now expecting rebound to 1069 and or 1085 on Monday Aug 30
38% to 50% of the previous loss
From there, we might expect a fibo loss of 144 pts in what i see as a "C" wave
which could also be equal to 180 pts thus taking the spx in a range from 940 - 900
ALL within the time period from Aug 30 to Spt 3/7th
Jay
I made a note at the time that this was only a general trend graph,
and EACH day was not cut in stone
SO Far, it has been quite good expect for yesterday
Also see the graph from Columbia1 which shows the low at 1039 as possible C wave low
IMO< we should now expect a rebound in an X wave, some see it as wv ii, and others wv iv
matters not at this point how you label it
We mentioned fibo relationships with potential highs at spx 1069 to max at 1085
Also mentioned GDP revision would be beneficial for today's open and the spoos are
up near 8pts at 9am
IVE published the FIBO relationships for the 377 tr day LOW on SPT 3rd several times
and there are several other pivots meeting on the 3rd.
Ive POSTED SPT 7th at 10am as BUY BUY BUY
and as far as Im concerned that is cut in stone
ENERGY next week
Monday Aug 30 up
Tues hi at 10am, then DOWN day
Wed down
Ths up to at least at 26hrs at 10am
Fri down - should be the LOWeek and maybe LOYear
Monday Spt 7th low at 10am- 39 hr cycle & 62% /13 day
Jay
7 comments:
Dow Jones futures before opening bell
http://niftychartsandpatterns.blogspot.com/2010/08/dow-jones-futures-before-opening-bell_27.html
Once more we see the validity of that 39 hour cycle hitting a low at 10am
at 10;15 back off the lows and heading higher
THIS WEEK
I told you
GDP would be beneficial
&
Ben would add nothing new
would it be fascinating if the FED does something beneficial Monday AM
Jay
GO TO CHAT ROLL TILL 11am
Jay
258bars at 3pm should clear the way for a higher close
90 bars doesnt hit until 4pm monday
still expecting a mid day high on Aug30th at about noon
jay
Jay,The mentioned Monday in sept. is the 6th, not 7th.
Good analysis.
Crissy
the 6th is LABOR DAY
any reference is to Tuesday SPT7th
Jay
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