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Strategies & Market Trends : Market Trends & Market Chatter (Investment Ideas)
TIGR 10.16-6.9%Nov 4 3:59 PM EST
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From: Fintas12/23/2014 9:04:20 AM
1 Recommendation

Recommended By
toccodolce

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SPX and a follow up re the PNF view.

But what about those waves? I get sea sick listening to all those counts and possibilities.

Is it a 2 of 3.. NO it'a 4 of flat unless it's 2 and bumpy..

I'm a very simple guy..

So I like to see things from a simple view.

2080.. Put it up long ago. Today it should FINALLY be hit.. BIG DEAL.. ZZZZ The problem with it is HOW it has been hit. There has been no retrace of many larger value boxes and that is going to result in a deeper correction then if there had been.

One only has to understand 486/972/1458..... 1944..

As we know TWICE.. once in 2000 and once in 2007 the spx got to 1570 ish and NO 1620.. To then drop dramatically.. Each time UNDER 972.

One time under 810. Before it continued on up thru the 1620 but over a near 11 year span. So as some continue with up to mars. Maybe one day. But here and now that retrace of the 54 is coming and after the 2080 hit add the 108 value box that needs to retrace. That doesn't take a math major to understand 162 and 324 points using the 3 box reversal..

And for my detractors who do not understand how I can see both UP and DOWN as an equity of a index plays out.. Well that's there problem. They also didn't see MSFT!!!!!!!

For me to MSFT 38.88 I had to se MSFT 34.02. To see MSFT 48.60 also have to see MSFT 53.42. So where do I expect a stock to stall, rest, retrace and move up is dependent on many variables. Oh and have I mentioned I saw all that from highs of 38 in 2007 where I was SELLING MSFT 30's.. To then watch MSFT step down 34.02/29.16/24.30/19.44 and stopping below where I could determine the end to then see 50 and higher.

No different with the SPX.. I saw UP back in 2009. And I can see 2430 ONE day.. But just as MSFT will rest..So will the SPX.

LONG STATED

972/1458/1944.........2430.

1944+ 162= 2106 Will we get there. Possibly. But are we going straight to 2430 without a retrace of the 54 value box and the 108. NOPE.

So the 2080 is just part of the steps of moving up..

There are TWO hits on 2080.

The 54 value box and the 108 value box.

So today we get that 2080 out of the way for BOTH! YEE HAA.. Makes my counting easier.


Yet that also means that's another box higher without the retrace of 3. RUH ROO.. my friendly bulls who love to just keep counting up....won't know what hit them.

And that means 162 points down and 324 are coming. More importantly when they start counting down it's going to take time to reverse that 108.

So as I watch this day, understand the bell curve avg, the bp spx avg and the fact that bounce in IBM is playing out as presented....Well IBM is not done going down so SELL THE RIP.

When the spx finishes.. I"m long stated.. 1944/1890/1836.....ZZZZZZ


Then 1782/1728.. ZZZZZZZ


1672/1620.....ZZZZZZ


1566/1512......ZZZZZZ


1486..... 1458 is safe.. Under that 1486 is 1404..

So here and now enjoy the green..

Just remember they DO GO DOWN..

Fintas
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