DG you should never think of yourself as a troll. You’ve been stopping by for years now so I know you’re a regular reader. That article just confirms a lot of what Ali stated, which is very cool. 🙂
Bear in mind that “if” this is a wave 4 up (and I believe it is) then the C wave part of it should happen tomorrow with some type of gap up. Clearly they are trying to close this positive but probably won’t. Regardless, a gap up would confirm a C wave and it can’t go higher then 1674.21 SPX, or else it’s not a C wave inside a wave 4 up.
Personally I think it won’t get past that 1660 zone of horizontal resistance but never under estimate the bulls. Considering how close we are to the downward sloping trendline that’s coming in around 1645 right now, I’d have to think we’d gap over that and head toward 1660, and at most the 1674.21 high.
We’ll just have to play it by ear tomorrow and look for the market to peak early and rollover into the close. Failure to do so would mean that Thursday we should see the top of that final C wave up (inside the wave 4).
Ok, I think we have just completed the B wave down inside this 4th up. As long as they don’t go lower then yesterday’s low the count is good… meaning we had the A wave up yesterday, B down today and should have the C up tomorrow. That should end the wave 4 up and allow for a 5th wave down to happen late Wednesday and all day Thursday.
DG you should never think of yourself as a troll. You’ve been stopping by for years now so I know you’re a regular reader. That article just confirms a lot of what Ali stated, which is very cool. 🙂
thanks, (I) always try to add value.
I try not to be a drive by troll.
Here’s a possible plan for tomorrow… http://reddragonleo.com/wp-content/uploads/ES-06-04-2013-60min.jpg
Bear in mind that “if” this is a wave 4 up (and I believe it is) then the C wave part of it should happen tomorrow with some type of gap up. Clearly they are trying to close this positive but probably won’t. Regardless, a gap up would confirm a C wave and it can’t go higher then 1674.21 SPX, or else it’s not a C wave inside a wave 4 up.
Personally I think it won’t get past that 1660 zone of horizontal resistance but never under estimate the bulls. Considering how close we are to the downward sloping trendline that’s coming in around 1645 right now, I’d have to think we’d gap over that and head toward 1660, and at most the 1674.21 high.
We’ll just have to play it by ear tomorrow and look for the market to peak early and rollover into the close. Failure to do so would mean that Thursday we should see the top of that final C wave up (inside the wave 4).
Ok, I think we have just completed the B wave down inside this 4th up. As long as they don’t go lower then yesterday’s low the count is good… meaning we had the A wave up yesterday, B down today and should have the C up tomorrow. That should end the wave 4 up and allow for a 5th wave down to happen late Wednesday and all day Thursday.
SPY Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/06/spy-support-and-resistance-levels.html
Here’s a possible move for today and Wednesday… http://reddragonleo.com/wp-content/uploads/ES-06-04-2013.jpg
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/06/es-chart-analysis_4.html
Bullish Engulfing of Coca Cola: http://niftychartsandpatterns.blogspot.in/2013/06/coca-cola-bullish-engulfing-pattern.html
Nice find DG! That’s worth reading and reposting for sure…