That's assuming that the P2 is at 1080 and we are in wave one down. What if P2 isn't in yet?
If P2 is in then, your projection is accurate, as the next wave down would be a wave 3 inside the first wave one down of P3, but…
WE NEED VOLUME!
And it's not here yet. October 5th-7th should mark the high. Now… whether or not that's 1080 or 1100-1108 is anyone's guess. I've just been burnt too many times in the past when the volume was light.
The PPT, or whoever, always comes in like the Lone Ranger to save the day… just when the market is ready to tank!
Let's not forgot about “end of the month” (and quarter) window dressing. It happens, I can't stop it, so I have too factor it in with my predictions.
Tell me where you think the market is going if the 1080 mark isn't the P2 top? Give me both scenarios. Let's try to figure out which one is the correct one, so we both can profit from it.
I have got to pay more attention to some things that I tend to ignore at the wrong times I had posted a few pertinent things last week 1040 spx was first important level and they bounced off with a 62% retrace to 1065. the next important level seems to be spx 1000 and the pieces seem to fit. 39 x 62% = 24 + 1051 = 1065 39 x 1.618 = 65 1065- 65 = the next level of spx 1000 cycle still points to PIVOT LOW on Oct2nd at 10am Jay
heheheh you got that right, looks like you got a nice trade here I would take profits before too long as I believe we do reverse and go lower rather quickly. 😉
Leo That was a very good S&P road map you laid out there. I made a copy and printed it out. It made sense. Hope you post updates. Thanks for your thoughts!
heheheh you got that right, looks like you got a nice trade here I would take profits before too long as I believe we do reverse and go lower rather quickly. 😉
Jeez what a nut I am…thanks for the help and the insite you have here. Red really good writer you are. 🙂 I am still short going into tomorrow. I think we go down, but you never know. 🙂
Jay,
That's assuming that the P2 is at 1080 and we are in wave one down. What if P2 isn't in yet?
If P2 is in then, your projection is accurate, as the next wave down would be a wave 3 inside the first wave one down of P3, but…
WE NEED VOLUME!
And it's not here yet. October 5th-7th should mark the high. Now… whether or not that's 1080 or 1100-1108 is anyone's guess. I've just been burnt too many times in the past when the volume was light.
The PPT, or whoever, always comes in like the Lone Ranger to save the day… just when the market is ready to tank!
Let's not forgot about “end of the month” (and quarter) window dressing. It happens, I can't stop it, so I have too factor it in with my predictions.
Tell me where you think the market is going if the 1080 mark isn't the P2 top? Give me both scenarios. Let's try to figure out which one is the correct one, so we both can profit from it.
Thanks Douala… I'll try to post as often as I can. I did another post today, for Tuesday and Wednesdays' outlook.
I have got to pay more attention to some things that I tend to ignore at the wrong times
I had posted a few pertinent things last week
1040 spx was first important level and they bounced off with a 62% retrace to 1065. the next important level seems to be spx 1000 and the pieces seem to fit.
39 x 62% = 24 + 1051 = 1065
39 x 1.618 = 65
1065- 65 = the next level of spx 1000
cycle still points to PIVOT LOW on Oct2nd at 10am
Jay
heheheh you got that right, looks like you got a nice trade here I would take profits before too long as I believe we do reverse and go lower rather quickly. 😉
Leo
That was a very good S&P road map you laid out there. I made a copy and printed it out. It made sense. Hope you post updates. Thanks for your thoughts!
heheheh you got that right, looks like you got a nice trade here I would take profits before too long as I believe we do reverse and go lower rather quickly. 😉
Thanks Steveo…
I'm been reading your charts too. You're into more stocks then I follow, but I still visit from time to time. I'll try to stop by more often.
You could be right… or wrong? That's why they call this gambling… I'm mean trading!
Jeez what a nut I am…thanks for the help and the insite you have here. Red really good writer you are. 🙂
I am still short going into tomorrow. I think we go down, but you never know. 🙂
Thanks Steveo…
I'm been reading your charts too. You're into more stocks then I follow, but I still visit from time to time. I'll try to stop by more often.