If the market is going to get out of this falling wedge it will need to gap up tomorrow. I don't know if it's going too, as it's looking pretty weak right now. However, this could have been to lure in some bears to squeeze first?
If it does rally, I don't think it will get past the 1100 double top area. It may not rally at all? Looks really sick.
Actually June 30 is 55 cal. days. I know 111 calendar days separate 5-6-1 (111) from August 25. So August 24 could be the start of the plummet. Right now, today's action reminds me of May 18th. On that day there appeared to be a daily reversal in progress following a doji/hammer day but it fell short but completed during afterhours.
We might just repeat that this August 25th Geccko? A couple more days of chopping around up and down like today, and then a huge sell off. I think it's coming… and within a few more days.
Russell 2000 down to a new low for the day, down 6.66 to 604.12. Today is 369 days from the 3-6-9 low. August 25 is 18days from August 7 which was 666 calendar days from October 10,2008 financial crisis low. July 1 was 55 calendar days from May 6 flash crash. August 25 is 55 cal. days from July 1. 55 days was an important cycle in 1929,1987. The market topped on August 25 in 1987. July 1 low was also 333 trading days from 3-6-9 low and 66 calendar days from April high.
Volume is still pretty light Anna. I don't think it will break today. I still think we will roll over late Wednesday or Thursday. How are doing, by the way? 🙂
One reason I like the count is because it indicates we are only in P2-B. We would hit the 111.17 FP in this P2-B-B wave, go lower in P2-B-C to hit the 8300 dj print (870ish spx), completing P2-B, and still be able to go higher in P2-C to hit the 118.16 dia print before beginning P3 and the hell that predicts sometime next year.
That was a mouthful. Another way of putting it, its the fake print count.
The 67 td cycle between May 17 and Friday when similar bars were made on the chart and then of course 67 tds between today and May 18.
If the market is going to get out of this falling wedge it will need to gap up tomorrow. I don't know if it's going too, as it's looking pretty weak right now. However, this could have been to lure in some bears to squeeze first?
If it does rally, I don't think it will get past the 1100 double top area. It may not rally at all? Looks really sick.
Actually June 30 is 55 cal. days. I know 111 calendar days separate 5-6-1 (111) from August 25. So August 24 could be the start of the plummet. Right now, today's action reminds me of May 18th. On that day there appeared to be a daily reversal in progress following a doji/hammer day but it fell short but completed during afterhours.
We might just repeat that this August 25th Geccko? A couple more days of chopping around up and down like today, and then a huge sell off. I think it's coming… and within a few more days.
Russell 2000 down to a new low for the day, down 6.66 to 604.12. Today is 369 days from the 3-6-9 low. August 25 is 18days from August 7 which was 666 calendar days from October 10,2008 financial crisis low. July 1 was 55 calendar days from May 6 flash crash. August 25 is 55 cal. days from July 1. 55 days was an important cycle in 1929,1987. The market topped on August 25 in 1987. July 1 low was also 333 trading days from 3-6-9 low and 66 calendar days from April high.
Volume is still pretty light Anna. I don't think it will break today. I still think we will roll over late Wednesday or Thursday. How are doing, by the way? 🙂
Now my updated h&S I posted from earlier LOL
http://www.screencast.com/users/Annamall2/folde…
neckline of 68.50 needs to break with conviction http://www.screencast.com/users/Annamall2/folde…
LOL…
I got ya! I understand completely, and that would make perfect sense with fulfilling all the FP's.
One reason I like the count is because it indicates we are only in P2-B. We would hit the 111.17 FP in this P2-B-B wave, go lower in P2-B-C to hit the 8300 dj print (870ish spx), completing P2-B, and still be able to go higher in P2-C to hit the 118.16 dia print before beginning P3 and the hell that predicts sometime next year.
That was a mouthful. Another way of putting it, its the fake print count.