Yeah… me too. I’m took down SMB’s to work on it. I’ll going to put it back up soon and then start going back into the chatroom (assuming others would like to join in again?)
Gang, this goes to show you that the charts lead the news… not the other way around. This EU summit decision showed up yesterday in the charts when I posted a 70/30 chance of a rally.
This is a minor wave 3 up inside a larger C wave up. There should be a wave 4 down while the insiders sell near the top and then the retail sheep will buy the dip which will create the 5th wave up. It won’t be near as powerful as this current C wave of course, as it’s an “exhaustion” wave. But, it’s still worth buying if we get a pullback soon.
I wouldn’t go long if it reaches 1360 SPX before pulling back as there won’t be much more room left on the upside. My target is still 1370-1385 for the end of this whole C wave up, which should also end the larger wave 2 up from the 1266 low.
I seen that just before I went to bed Donnie. Looks like it’s continuing into this morning too. I wonder if it’s just the PPT juicing the market or insiders buying in anticipation of QE3 or something similar?
Yes, also helping me get a better understanding on reading charts. Excellent call today. Closed a position up 50%. The silver update also stopped m from opening positions, which worked considering what happened today. Thanks
SILVER Update:
http://niftychartsandpatterns.blogspot.in/2012/06/silver-chart-update.html
Yeah… me too. I’m took down SMB’s to work on it. I’ll going to put it back up soon and then start going back into the chatroom (assuming others would like to join in again?)
Gang, this goes to show you that the charts lead the news… not the other way around. This EU summit decision showed up yesterday in the charts when I posted a 70/30 chance of a rally.
This is a minor wave 3 up inside a larger C wave up. There should be a wave 4 down while the insiders sell near the top and then the retail sheep will buy the dip which will create the 5th wave up. It won’t be near as powerful as this current C wave of course, as it’s an “exhaustion” wave. But, it’s still worth buying if we get a pullback soon.
I wouldn’t go long if it reaches 1360 SPX before pulling back as there won’t be much more room left on the upside. My target is still 1370-1385 for the end of this whole C wave up, which should also end the larger wave 2 up from the 1266 low.
Red, your chart is not working, right?
Thanks for replying guys. 🙂
I seen that just before I went to bed Donnie. Looks like it’s continuing into this morning too. I wonder if it’s just the PPT juicing the market or insiders buying in anticipation of QE3 or something similar?
ES Trend update:
http://niftychartsandpatterns.blogspot.in/2012/06/es-trend-update_29.html
es +14 and ym +120 at 11:30 PM EST on some good volume for this time of night – very weird. This move started in the 10PM EST hour.
Yes, also helping me get a better understanding on reading charts. Excellent call today. Closed a position up 50%. The silver update also stopped m from opening positions, which worked considering what happened today. Thanks
And yes there was a 9-11 substitution for Bolatelli in the 70th minute, 69 minutes on the clock.
And I almost forgot but it is 1288 weeks from the great event double 4 years ago with 920 hit for tomorrow.
And the market is set up for a 3 of 3 wave from the wave down from last week’s high but the higher degree wave is probably a 1.