That was ugly gang… I sure missed the call on that 5th wave up. I hope some of you were short and benefited from it as it’s looking like that wave 3 down started and we are probably headed toward that gap fill at 1597 soon.
They are dragging this triangle out until the very end it seems. I thought they would breakout to the upside today in that final 5th wave up but it doesn’t look likely now. The longer they stay in the triangle the weaker the chances of an upside breakout and the stronger the chances of a breakdown to the downside. Whichever way they break it I don’t think we’ll know until Monday.
that scenerio may play out but lets not think too much…..we had the W1 down we had a nice retrace up in a A-B-C zigzag for W2
then we had the w1 of 3 down but did not make a new low….its not a rule…does not have to make a new low…this is where the crooks r tricking most traders….
they sold into the move up today which i think is a w2 of 3 and we r starting 3of3of1 down at the close
1minute chart does not mean much but it is a nice looking 5wave structure ….5waves down means at least another 5waves down to follow a correction up…thats just me and how i trade short timeframes
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/06/s-500-weekend-update.html
bingo !!! thanks POMO MOFO !!!!!
smells like fish a tasty dish !!!!!
just a few pissed off bears left but we can still do some damage !!!!
now the question will be>>>>> will we get 5waves down off the 1684 top
this move down from 1684 could be a W4 zigzag off the top of a W3 high of 1684….before we get too bearish we need to see those 5 fleshed out waves
It was an ugly bull but a handsome bear! 🙂
Ugly..??? That was beautiful!
That was ugly gang… I sure missed the call on that 5th wave up. I hope some of you were short and benefited from it as it’s looking like that wave 3 down started and we are probably headed toward that gap fill at 1597 soon.
They are dragging this triangle out until the very end it seems. I thought they would breakout to the upside today in that final 5th wave up but it doesn’t look likely now. The longer they stay in the triangle the weaker the chances of an upside breakout and the stronger the chances of a breakdown to the downside. Whichever way they break it I don’t think we’ll know until Monday.
APPLE Chart update: http://niftychartsandpatterns.blogspot.in/2013/05/apple-chart-update_31.html
that scenerio may play out but lets not think too much…..we had the W1 down we had a nice retrace up in a A-B-C zigzag for W2
then we had the w1 of 3 down but did not make a new low….its not a rule…does not have to make a new low…this is where the crooks r tricking most traders….
they sold into the move up today which i think is a w2 of 3 and we r starting 3of3of1 down at the close
1minute chart does not mean much but it is a nice looking 5wave structure ….5waves down means at least another 5waves down to follow a correction up…thats just me and how i trade short timeframes