We hit the 1583 level that I was looking for gang, so I think a small short into Thursday and Friday is safe. But we might only go down to gap fill around 1563 spx before turning back up next Monday.
The market looks tired guys. I ‘m thinking that they will push it up one more time around the close today but that’s likely about all it will be… meaning a short into tomorrow seems like a good play to me. Possibly we’ll see 1583- 585 spx or so by the close, as that would make a good 5th wave up to complete the entire 5 wave pattern from the 1536 low.
But I’m really not sure on how low they will go on the move down? I still don’t think they are going to the 1490-1500 zone like a lot of others do, as just above 1536 seems most likely. So while I’d like to see 1540-1550 get hit we might stop around 1563 where the gap fill is located at.
Tough call here as to what the wave count is right now? Was the move down from 1597 to 1536 an A wave down, and now we are in a B wave up? That implies that the C wave down that could go to that 1490-1500 zone.
Or was the move down from 1597 to 1536 just a simple 5 wave pattern and now we are starting a 5 wave pattern up that should complete May 22nd… which means this smaller 5 wave pattern move up that’s about to complete here by the end of the day is a wave 1 up. Then we have a wave 2 down to maybe 1540-1550, then a wave 3 up to 1597 area, back down 30-50 points for wave down and finally a wave 5 up to 1630-1650 by May 22nd.
Well, there was your chance to get short for one minute for the move down… LOL! Sadly, I think they will take it up higher again tomorrow. The 1580 spx area was basically hit (1579.58) but the move down (if it was accurate?) was way too quick to play. It looks like the gangsters just wanted to take out the “buy stops” to steal the bulls’ money, which means we could be going on up to the prior high of 1597 before dropping again.
So my wave count could be off and this might be an A wave up from the 1536 low, which should end just shy of the 1597 high… followed by a B wave down to end just slightly above the 1536 low. Then a final C wave up to end in the 1630-1650 zone. This is a very tricky time period right now, which also tells me that the gangsters are pulling out all the stops to trick the public before they crash the market later next month.
BLACKBERRY Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/04/blackberry-resistance-levels.html
We hit the 1583 level that I was looking for gang, so I think a small short into Thursday and Friday is safe. But we might only go down to gap fill around 1563 spx before turning back up next Monday.
EURUSD Falling wedge pattern: http://niftychartsandpatterns.blogspot.in/2013/04/eurusd-falling-wedge-pattern.html
CRUDE Oil charts: http://niftychartsandpatterns.blogspot.in/2013/04/crude-oil-chart-analysis_24.html
The market looks tired guys. I ‘m thinking that they will push it up one more time around the close today but that’s likely about all it will be… meaning a short into tomorrow seems like a good play to me. Possibly we’ll see 1583- 585 spx or so by the close, as that would make a good 5th wave up to complete the entire 5 wave pattern from the 1536 low.
But I’m really not sure on how low they will go on the move down? I still don’t think they are going to the 1490-1500 zone like a lot of others do, as just above 1536 seems most likely. So while I’d like to see 1540-1550 get hit we might stop around 1563 where the gap fill is located at.
Tough call here as to what the wave count is right now? Was the move down from 1597 to 1536 an A wave down, and now we are in a B wave up? That implies that the C wave down that could go to that 1490-1500 zone.
Or was the move down from 1597 to 1536 just a simple 5 wave pattern and now we are starting a 5 wave pattern up that should complete May 22nd… which means this smaller 5 wave pattern move up that’s about to complete here by the end of the day is a wave 1 up. Then we have a wave 2 down to maybe 1540-1550, then a wave 3 up to 1597 area, back down 30-50 points for wave down and finally a wave 5 up to 1630-1650 by May 22nd.
ES Support levels: http://niftychartsandpatterns.blogspot.in/2013/04/es-support-levels_24.html
S&P 500 Analysis after close: http://niftychartsandpatterns.blogspot.in/2013/04/s-500-analysis-after-closing-bell_24.html
Yes definitely Red ! It is useful for day traders and you can also share this for your valuable blog readers ! (updated on weekly basis)
Well, there was your chance to get short for one minute for the move down… LOL! Sadly, I think they will take it up higher again tomorrow. The 1580 spx area was basically hit (1579.58) but the move down (if it was accurate?) was way too quick to play. It looks like the gangsters just wanted to take out the “buy stops” to steal the bulls’ money, which means we could be going on up to the prior high of 1597 before dropping again.
So my wave count could be off and this might be an A wave up from the 1536 low, which should end just shy of the 1597 high… followed by a B wave down to end just slightly above the 1536 low. Then a final C wave up to end in the 1630-1650 zone. This is a very tricky time period right now, which also tells me that the gangsters are pulling out all the stops to trick the public before they crash the market later next month.
APPLE Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/04/apple-chart-analysis_23.html