doesn't really matter how many more we get.....at this critical juncture in the retrace....its all about the july bottom now....
made this post before.....
Message 17890101
to sum it up.....
if we break the 1192 low....the 29-32 retrace is a go....
if we don't break the 1192 low....to be safe we have to look at the nikkei.....
heres a better look at that.....
the nikkei....
stockcharts.com[h,a]daclynay[d19900918,20020918][pc9!c13!c20!d20,2!h.02,.20!c50!f][iLa4,9,5!Lh5,5!Li10,10!Lp14,3,3!Ll14!Lo14!Lb14!Le5,10,1]&pref=G
the nasdaq.....
stockcharts.com[h,a]daclyiay[d19950918,20020918][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
ok.....heres the similarity at this critical point....
the nikkei big double bottom at 14000 is the nasdaq double bottom at 1357-1387....
nikkei finally broke that and made the 12700 bottom.....nasdaq broke its DB and made the 1192 bottom....
nikkei ramped off that 12700 and went up and pierced through its old DB 14000 bottom....
nasdaq ramped off that 1192 bottom and went up and pierced through its old DB to 1426.....
then nikkei came back down and made a higher low off that 12700 and then ramped through that old 14000 DB to another high later on before it crashed again.....
ok.....
we are right at that point now......of that bottom retest....
we break the july lows....its retrace business as usual....and just keep on the same plan.....we get our 1000 bottom and ramp back...and then see where we are in november to know whether or not we get this over with now and enter the final washout next year....
if we don't break the july lows.....caution is advised as it then could nikkei us and prolong this whole process with a do-over next year from the 1800-2000 level again just like nikkei did......
anyway....folks think i am just married to the retrace....but all along i have been watching for this to break form....and i am aware of the nikkei and where it stands compared to nasdaq also....
so far...29-32 has done nothing to change the path....and with those month long H&S and weekly d-blows....the T/A says its going to go right along with its current path to 1000......
so....you look at all the angles....you take current T/A....that way you cover your butt and are not toasted because you had blinders on.... |
