guess we’ll hav to see. I’m ES futures, and vix options. It was trange, to me, how the vix was moving up with the market. I guess that would negate the FP that you found then? wave 5s are usually pretty strong
Wise idea Peter as it doesn’t look like it’s ready to go down any right now. They are just making a bullish triangle right now that should breakout to the upside Monday morning. Of course they still could breakdown just as easily as triangles can go either way. But since the bearish view of things rarely work and bullish view always works we have to lean toward a bullish breakout on Monday.
The only thing that bugs me is that they really won’t go down enough to create a 4th wave and to create the negative divergence on the daily chart I’m looking for. They need about 3 day of down movement which tells me Monday should be down… at least during the morning session.
However, the rising lower trendline on the channel has moved up to about 1615 today will continue rising on Monday as well. So the move down to gap window around 1610 doesn’t seem likely at this point. They are really stretching this out until the last day I guess, which is frustrating both bulls and bears.
USO Weekend update: http://niftychartsandpatterns.blogspot.in/2013/05/united-states-oil-weekend-update.html
APPLE Weekend update: http://niftychartsandpatterns.blogspot.com/2013/05/apple-weekend-update_11.html
I think target is 1666
cos’ ’09 low was 666 ))
guess we’ll hav to see. I’m ES futures, and vix options. It was trange, to me, how the vix was moving up with the market. I guess that would negate the FP that you found then? wave 5s are usually pretty strong
PFIZER Bearish Monthly candle: http://niftychartsandpatterns.blogspot.in/2013/05/pfizer-bearish-monthly-candle.html
I think that news could be used to drop us to the 1615 spx area to complete a smaller wave 4 down on Monday. Then back up later in the week to complete the 5th wave and end the whole rally from last November. This chart (isn’t mind) looks fairly accurate to what I’m expecting… http://2.bp.blogspot.com/-1QK2GndKK20/UYwW3KspqbI/AAAAAAAAP3c/tkLL2UJuAII/s1600/spx05092013.png
with the new fed news, think you missed the initial drop Red?
Got a little short, just in case that was close enough
Just holding some ES so I think I
Wise idea Peter as it doesn’t look like it’s ready to go down any right now. They are just making a bullish triangle right now that should breakout to the upside Monday morning. Of course they still could breakdown just as easily as triangles can go either way. But since the bearish view of things rarely work and bullish view always works we have to lean toward a bullish breakout on Monday.
The only thing that bugs me is that they really won’t go down enough to create a 4th wave and to create the negative divergence on the daily chart I’m looking for. They need about 3 day of down movement which tells me Monday should be down… at least during the morning session.
However, the rising lower trendline on the channel has moved up to about 1615 today will continue rising on Monday as well. So the move down to gap window around 1610 doesn’t seem likely at this point. They are really stretching this out until the last day I guess, which is frustrating both bulls and bears.