between waves (b) & (c)
As such the graph would also indicate an ending low equal to the difference between 1344 & 1370 =26pts
BELOW the previous low at 1250 which would set this middle at 1250, and the lower wave "C" at 1224.
the lack of a very serious plunge would seem to confirm the above also, but the day is still young.
Jay
Not a bad rally so far today especially in the TSX which I trade. I just wanted to demonstrate the power of my system's predictive ability, so thanks Jay for letting me post my comments.
ReplyDeleteThere are several cycles hit today, namely my 8day/4day cycle and everything underneath them. However I'm watching closely my proprietary confirmation signals for the next larger cycle. If by some chance it triggers we could be in for a larger rally. I don't favour this scenario...YET, but worth keeping an eye on. My primary scenario is for this rally to climax at today's end or sooner or later by tomorrow morning then short into late week.
btw, I don't really follow sentiment indicators but there were way to many many blogs, forums, web pay sites, etc that were bearish. That's never a good sign when it's just about unanimous.
ReplyDeleteIsn't it unbelievable how so many bloggers are charging for their work? They must not be making enough money trading I suppose. There are far too many factors that can cause a trader to lose money let alone trying to follow someone else's work.
Oh well.
JUST AS The EKG showed us, we started out lower and rebounded
ReplyDeleteNOW WHAT?
STILL IN THAT DESCENDING WAVE
More to follow
Jay
I got my rally and got my nice profit. Already shorted the hell out of this thing.
ReplyDeleteI do not charge for my blog.......But I am amazed at how many ppl think everything is free and make demands! Oh well!
ReplyDeletehttp://traderjoed.blogspot.com/
No more freebies. bye.
ReplyDeletehahaha
What were they! Colgate coupon! hahahahahah
ReplyDeleteJoed
ReplyDeleteNice blog
Reza.......
ReplyDeleteThanks! Kind of ya! joed
Nice call
ReplyDeletetomorrow we get the ugly wave, finally
ReplyDeletesincerely
cementzak
Amen to that Cementzak
ReplyDeleteSpx could seek a number of targets
1325 to 1318 = a 15 pts loss
not really that much
1295-1300 = 29pts, but still not impressive
1250 would be very impressive, but I really doubt we will see them give up 80pts
using the 40 pt rule of thumb, might work getting to 1290
Just under that support of 1294, but not enuf to crak open the coconut
Altho 1250 = 80 pts or 2X 40
2;30 is 126bars and neg energy
Jay
IF the TARGET is 1250, they had better start out with a BANGER
ReplyDeleteJ
I dont know what blogs your reading Ricky, but MY yahoo group is DEEAAADD
ReplyDeleteand that usually occurs near tops
They get red hot at bottoms, when the Neg sentiment gets heavy.
Jay
I am looking for 1255 within my next bottom date.........my neural net system goes short on the open in TNA! Good trading! joed
ReplyDeletehttp://traderjoed.blogspot.com/