Yeah, the bottom could go into tomorrow morning I guess Peter (especially since it’s an “eleven” day) but the target isn’t likely going to be 1640/1650 but around 1670 as in this chart. Here’s what I see http://screencast.com/t/rggYWQS7lEe0
I’m looking for around 167 on the SPY today if all goes as planned. Then a rally Thursday and Friday, followed by another even bigger drop all next week.
In your most recent post at 7:03 you say there is going to be an initial drop to “right here” but I have checked and can’t see the pointer or any line drawn. Where do you expect that initial drop, after the peak (possibly Aug 8,9) to go down to please?
At least that low David as wave 3’s or C’s are longer then wave 1’s or A’s. So if wave 1 was from 1709 to 1693 on the SPX then that’s 16 points. If you multiple 16 times 1.786 you get 28 points. So we should drop 28 points from 1699 or around 1671 spx.
Yes, they have something up their sleeve and it’s not good for the sheep I bet. We should have rallied more today with the light volume so they are about to trick us I think. Look at this chart and tell what will happen when the blue rising trendline breaks (inside the 2 black trendlines that make up the channel)?
Market looks like it’s trying to rally here but appears too weak to do so. With such extremely light volume today you’d think they would have rallied by now? The short term oversold charts have worked off most of that condition and are move up steadily on their histogram bars but the market chops sideways.
Obviously that’s called a bear flag. So unless there’s some huge rally in the last half hour to close the market green I’m going to think that SkyNet wants to keep the market down here as it’s planning on moving lower again tomorrow.
Yeah, the bottom could go into tomorrow morning I guess Peter (especially since it’s an “eleven” day) but the target isn’t likely going to be 1640/1650 but around 1670 as in this chart. Here’s what I see http://screencast.com/t/rggYWQS7lEe0
tomorrow is an 11 day. I assume you’re looking for 1640/50?
Here’s what I see http://screencast.com/t/rggYWQS7lEe0
I’m looking for around 167 on the SPY today if all goes as planned. Then a rally Thursday and Friday, followed by another even bigger drop all next week.
In your most recent post at 7:03 you say there is going to be an initial drop to “right here” but I have checked and can’t see the pointer or any line drawn. Where do you expect that initial drop, after the peak (possibly Aug 8,9) to go down to please?
S&P 500 Analysis After Closing bell: http://niftychartsandpatterns.blogspot.in/2013/08/s-500-analysis-after-closing-bell_7.html
At least that low David as wave 3’s or C’s are longer then wave 1’s or A’s. So if wave 1 was from 1709 to 1693 on the SPX then that’s 16 points. If you multiple 16 times 1.786 you get 28 points. So we should drop 28 points from 1699 or around 1671 spx.
Yes, they have something up their sleeve and it’s not good for the sheep I bet. We should have rallied more today with the light volume so they are about to trick us I think. Look at this chart and tell what will happen when the blue rising trendline breaks (inside the 2 black trendlines that make up the channel)?
http://stockcharts.com/public/1092905/chartbook/254097560;
bankers waiting to screw dip buyers with a sell into any rally but dip buyers didnt show up today
Market looks like it’s trying to rally here but appears too weak to do so. With such extremely light volume today you’d think they would have rallied by now? The short term oversold charts have worked off most of that condition and are move up steadily on their histogram bars but the market chops sideways.
Obviously that’s called a bear flag. So unless there’s some huge rally in the last half hour to close the market green I’m going to think that SkyNet wants to keep the market down here as it’s planning on moving lower again tomorrow.