Bear in mind that “if” this is a wave 4 up (and I believe it is) then the C wave part of it should happen tomorrow with some type of gap up. Clearly they are trying to close this positive but probably won’t. Regardless, a gap up would confirm a C wave and it can’t go higher then 1674.21 SPX, or else it’s not a C wave inside a wave 4 up.
Personally I think it won’t get past that 1660 zone of horizontal resistance but never under estimate the bulls. Considering how close we are to the downward sloping trendline that’s coming in around 1645 right now, I’d have to think we’d gap over that and head toward 1660, and at most the 1674.21 high.
We’ll just have to play it by ear tomorrow and look for the market to peak early and rollover into the close. Failure to do so would mean that Thursday we should see the top of that final C wave up (inside the wave 4).
Ok, I think we have just completed the B wave down inside this 4th up. As long as they don’t go lower then yesterday’s low the count is good… meaning we had the A wave up yesterday, B down today and should have the C up tomorrow. That should end the wave 4 up and allow for a 5th wave down to happen late Wednesday and all day Thursday.
The Turkish market had a mini-crash today. Down 10%. Wonder what Atilla has to say about that. His twitter account hasn’t had a comment since April 22.
Here’s a possible plan for tomorrow… http://reddragonleo.com/wp-content/uploads/ES-06-04-2013-60min.jpg
Bear in mind that “if” this is a wave 4 up (and I believe it is) then the C wave part of it should happen tomorrow with some type of gap up. Clearly they are trying to close this positive but probably won’t. Regardless, a gap up would confirm a C wave and it can’t go higher then 1674.21 SPX, or else it’s not a C wave inside a wave 4 up.
Personally I think it won’t get past that 1660 zone of horizontal resistance but never under estimate the bulls. Considering how close we are to the downward sloping trendline that’s coming in around 1645 right now, I’d have to think we’d gap over that and head toward 1660, and at most the 1674.21 high.
We’ll just have to play it by ear tomorrow and look for the market to peak early and rollover into the close. Failure to do so would mean that Thursday we should see the top of that final C wave up (inside the wave 4).
Ok, I think we have just completed the B wave down inside this 4th up. As long as they don’t go lower then yesterday’s low the count is good… meaning we had the A wave up yesterday, B down today and should have the C up tomorrow. That should end the wave 4 up and allow for a 5th wave down to happen late Wednesday and all day Thursday.
SPY Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/06/spy-support-and-resistance-levels.html
Here’s a possible move for today and Wednesday… http://reddragonleo.com/wp-content/uploads/ES-06-04-2013.jpg
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/06/es-chart-analysis_4.html
Bullish Engulfing of Coca Cola: http://niftychartsandpatterns.blogspot.in/2013/06/coca-cola-bullish-engulfing-pattern.html
Nice find DG! That’s worth reading and reposting for sure…
3141 days?, interesting.
http://planetforecaster.blogspot.com/2011/11/marty-its-planets-armstrong-215-year.html
EDIT: so the top should be around 3rd week of June. sounds good to me.
From date:Friday, March 6, 2009
Added 1570 days (2 * 2.15 Yrs)
Resulting date: Sunday, June 23, 2013
The Turkish market had a mini-crash today. Down 10%. Wonder what Atilla has to say about that. His twitter account hasn’t had a comment since April 22.