If all goes as planned, they will take out the stops setting above the 1230 spx peak on 8/30, 1220 peak on 9/20, and 1224 on 10/17 by Monday of next week… and then crash! I don’t know if they will make it up to the 1270 area (based on the 127.07 spy FP) or not, but as long as they clear out those stops first, it will allow for a bigger fall afterwards. My target date to go 100% short is Monday the 24th (possibly as late as the 26th, but I doubt it).
The 119.07-119.14 spy area has good support from previous afterhours and premarket hits. I think that could be the bottom? I’m expecting today to put in the low for this week and to rally the rest of the week and into our Legatus turn date next Monday the 24th.
Just click on the “like” button for any of San’s comments showing that you liked his chart. That’s what most people do when they like someone’s comment.
Red, Anna and San, what is the deal of placing a chart from say San’s site on your own website? What do you have to do, to give credit? What is legal? What is moral? What is usually done?
And tricky outlook today, haven’t consulted Arthur,but I am tempted to let the market go up on a small c and hope for a bigger fall. As we all know it could be that B is over. let me consult Arthur and see.
S&P
High: 1230
LOw: 1187-A
Now: 1203-B
C: 1176, 1160, 1133
MSFT Triangle pattern: http://niftychartsandpatterns.blogspot.com/2011/10/microsoft-near-resistance-line.html
New FP of 120.17 spy…. probably the “B” wave down today, assuming the move off the bottom today, to the current high, is the “A” wave up.
If all goes as planned, they will take out the stops setting above the 1230 spx peak on 8/30, 1220 peak on 9/20, and 1224 on 10/17 by Monday of next week… and then crash! I don’t know if they will make it up to the 1270 area (based on the 127.07 spy FP) or not, but as long as they clear out those stops first, it will allow for a bigger fall afterwards. My target date to go 100% short is Monday the 24th (possibly as late as the 26th, but I doubt it).
🙂 thank you the hobsta’s will love your charting
The 119.07-119.14 spy area has good support from previous afterhours and premarket hits. I think that could be the bottom? I’m expecting today to put in the low for this week and to rally the rest of the week and into our Legatus turn date next Monday the 24th.
Just click on the “like” button for any of San’s comments showing that you liked his chart. That’s what most people do when they like someone’s comment.
Gold Chart: http://niftychartsandpatterns.blogspot.com/2011/10/gold-bearish-price-action.html
Thanks Anna. I will share the links there
Red, Anna and San, what is the deal of placing a chart from say San’s site on your own website? What do you have to do, to give credit? What is legal? What is moral? What is usually done?
And tricky outlook today, haven’t consulted Arthur,but I am tempted to let the market go up on a small c and hope for a bigger fall. As we all know it could be that B is over. let me consult Arthur and see.