The Bulls are fighting this will everything they have. If they break the 1080 level and close, then the Bears are probably done for next week.
If they get rejected again at 1080 (third time), then we should fall hard all next week, into multiple wave 3's. This up and down movement is clearly done to shake out all the bears, and bring in the bulls.
Bears Flags are still on the Daily, and now forming on the 60 minute chart (although it's not completed yet), and I won't know until the end of the day.
It's not easy right now, as these bulls have drawn this thing out way too long. Of course it's planned that way. They have to shake out all the bears. This is still just a wave 2 up, that will end soon.
it's was the most profitable way to do a backtest as the operators got 1% return overnight plus they sold a ton more puts that they'll get a 100% return on in a week
another trip down to 1070 will be in order then
and what do you see if 1080 holds the bulls back?
80 ma on the 60 min
very very large buy/sell programs are based on this ma
once this breaks programs will cover their short positions and then add another bid on the long side
No… we are still in Mini wave 2 up, inside Intermediate wave 3 down. (see old charts)
That 1080 level seems to be the key Sun. If it holds, I see lots of selling next week.
what do you mean “max containment point”
spyma what moving average
Update…
The Bulls are fighting this will everything they have. If they break the 1080 level and close, then the Bears are probably done for next week.
If they get rejected again at 1080 (third time), then we should fall hard all next week, into multiple wave 3's. This up and down movement is clearly done to shake out all the bears, and bring in the bulls.
Bears Flags are still on the Daily, and now forming on the 60 minute chart (although it's not completed yet), and I won't know until the end of the day.
It's not easy right now, as these bulls have drawn this thing out way too long. Of course it's planned that way. They have to shake out all the bears. This is still just a wave 2 up, that will end soon.
we're back at the max. containment point for the market again
http://www.flickr.com/photos/47091634@N04/43518…
it's was the most profitable way to do a backtest as the operators got 1% return overnight plus they sold a ton more puts that they'll get a 100% return on in a week
has wave 3 to the downside started yet?
Dow is over 100 pts OFF the lows.
This EW & TA has a lot to be desired