David.....and anyone else interested in my crap (i often inspect it like tea leaves, and frequently find corn kernels)
on Oct. 8th we started a rally...5 waves UP.....1,2 and 3 took us to 10/20 @1084 S&P.....wave 4 (down) went to 10/28 @ 1059...then wave 5 (up) went to 11/06 @1141......this made 5 nice waves from the Oct. 8 low, BUT NO!!!! faked me out....the 5th wave was to be extended and have 5 FULL waves of it's own.......
the move up from 10/28 was wave 1 of the 5th wave...and from 11/06 to 11/12 was wave 2 (down) then wave 3 (up) to 11/27 @1192.97
then there is a wave down from 11/27 to 12/3 @ 1149.....THIS IS WHERE YOU HAVE TO MAKE A DECISION, is that wave 4....and the final 5th of 5 is the move up from 12/3 to 12/8 @ 1193?????
as i posted here, i added to my shorts at that time, and cashed some of them in today.....HOWEVER.....
i am playing this as follows.......from the high on 11/27 there is an
'a' down to 12/3...then 'b' up to 12/8...now a 'c' down to the -1150 area.....this WHOLE abc represents WAVE 4 of the extended 5th that started 10/28.......and the 5th and final wave UP will then occur.....
and if this happens it WILL NOT be allowed to travel more than 77 points UP from the coming low (around -1150)
WHY?? still wave 4??.... the DOW......both the S&P and DOW have been in lockstep since the
Oct. 8th........the move up from 12/3 to 12/8 COULD have been the final 5th of 5 on the S&P..BUT the DOW made a truly pathetic move up during that time frame and if THAT move is a truncated, failed, 5th...
it is the worst excuse i have seen.....in reality....it appears that the S&P is forming a perfect 'FLAT", symetrical correction since 11/27
...for the E-Wave impaired, those using ancient TA this is a 'coil' or Flag or consolidation band or whatever......
and at the same time the DOW is in a different type corrective 4th wave...perhaps a combination or double zigzag
the key will be the 1150 S&P, 8800 DOW reaction...an impulse, 5 wave up looking rally from that point will tell much....i cash the rest of my shorts at that point and watch for glue, a bear trap......if it goes sideways at that point i watch out below
and don't forget....as well as being naked, i am also a dirty stinking liar
Phlatulent sometimes
carl |
