Me either Anthony. The market looks to just be making a big bear flag on the daily chart. Once the 4hr, 2hr, and 60min charts get overbought (which should be about this Thursday sometime if it keeps moving like it’s currently doing) they will all rollover with the daily chart and thing could get ugly really fast.
Yes… let us not forget that print as we’ll likely see it happen late next year. Just thinking outside the box here but it’s possible that we continue down from now until the next Legatus meeting February 7th-9th, 2013 and bottom at the FP on the cell phone of 1068.50 spx.
Then rally up some (mostly choppy sideways action) to the month of August, 2013 before the collapse really happens and we see the FP on the VIX. Now looking at it for further clues and it’s also possible that the percentage gain of 1,198.48% could also be the rally up level for the SPX or ES before the crash starts?
Not likely that easy of course, but just something I noticed in the chart. It would also make a nice larger wave 2 up if wave one down is from the 1470 high this year and the forcasted low is the 1068 FP. That’s about 400 points down for a larger wave 1 and about 130 points up for a larger wave 2 up.
Certainly interesting, if nothing more then that. Thinking about the wave 1 down being about 400 spx point it sure makes you scared to think about what the wave 3 down will be? Should be at least double according to EW principles… or about about 800 points from about 1198, which is around 400 spx or so! Wow! Very scary indeed! And of course we also have the FP of 34.65 SPY, which is about 346.50 SPX!
yeah. I would’ve thought they’d have a decent push up before dropping nicely. But I guess chop will leave traders conused
Me either Anthony. The market looks to just be making a big bear flag on the daily chart. Once the 4hr, 2hr, and 60min charts get overbought (which should be about this Thursday sometime if it keeps moving like it’s currently doing) they will all rollover with the daily chart and thing could get ugly really fast.
Not too sure abou that 139.75 FP anymore. Today might’ve been close enough
S&P 500 Analysis after close: http://niftychartsandpatterns.blogspot.in/2012/11/s-500-analysis-after-closing-bell_14.html
Only if you turn the stove on high and some french fries… LOL! 🙂
Any idea when those talks will be over with?
Yes… let us not forget that print as we’ll likely see it happen late next year. Just thinking outside the box here but it’s possible that we continue down from now until the next Legatus meeting February 7th-9th, 2013 and bottom at the FP on the cell phone of 1068.50 spx.
Then rally up some (mostly choppy sideways action) to the month of August, 2013 before the collapse really happens and we see the FP on the VIX. Now looking at it for further clues and it’s also possible that the percentage gain of 1,198.48% could also be the rally up level for the SPX or ES before the crash starts?
Not likely that easy of course, but just something I noticed in the chart. It would also make a nice larger wave 2 up if wave one down is from the 1470 high this year and the forcasted low is the 1068 FP. That’s about 400 points down for a larger wave 1 and about 130 points up for a larger wave 2 up.
Certainly interesting, if nothing more then that. Thinking about the wave 1 down being about 400 spx point it sure makes you scared to think about what the wave 3 down will be? Should be at least double according to EW principles… or about about 800 points from about 1198, which is around 400 spx or so! Wow! Very scary indeed! And of course we also have the FP of 34.65 SPY, which is about 346.50 SPX!
i’m thinking the market i gonna be calm tomorrow due to the market holding its breadth over fiscal cliff talks
Red,
I was thinking of the big picture and what I consider the grand daddy of all FP’s came to mind:http://goldiespaperchase.blogspot.com/2010/06/wtf-vix-349-coming.html
I thought this analysis was interesting since the 349 is at the 423.6% FIB level…
Cisco- could start a nice pop tomorrow-