Zman Market Timing Message Board

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Strategies & Market Trends : Zman Market Timing

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To: POKERSAM who wrote (239)	10/19/2013 12:18:01 PM
From: zman69	Read Replies (2) of 15903

UGH!... I just typed up a several paragraph reply and then my browser window crashed when I hit the submit button :( ... Short summary is yes I still like the count from 9/19 top as 5 waves down. But since we broke above that high then that implies it was the "C" wave of a running which would be VERY bullish in the intermediate-term. Could I count it as a Double ZZ with the questionable wave 4 instead being wave "X" of the Double ZZ? Yes. And that would still leave the Ending Diagonal in play so long as we don't take out 1749 SPX. This of course would mean the 9/19 Zman top would hold for DJIA. As much as I would like the 9/19 Zman top to be successful, in all objectivity I give it low odds at this point for a couple reasons. First is that breadth on this rally has been very strong, and A/D line has posted a new high thus eliminating the very important potential bearish divergence that had been in place since the May high. Also, we came within a hair on Friday of triggering a Zweig Breadth Thrust by my calculations. The last two instances of Zweig Breadth Thrusts were on 3/18/09 and 10/14/11, which were obviously very nice buy signals. Now we didn't officially trigger the signal based on my data but we still have 2 trading days for that to occur, so obviously the next 2 days take on a huge importance. Not a time to make big bets in either direction IMHO, I would rather wait 2-3 more days to get better clarification as I believe there will be plenty of trending action to get on board once the dust settles.

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