Jump to content



Photo

Long Term $HUI wave count


  • Please log in to reply
81 replies to this topic

#11 johngeorge

johngeorge

    Member

  • TT Member+
  • 4,616 posts

Posted 01 February 2010 - 09:51 AM

In all cases but one the 200 dma provided support and we are nearly there
moreover the trendline break is usually retested


dougie

The way I see it on the chart below is there was significant down volume last week. As a matter of fact on a 3 year weekly chart the past week registered the highest down volume for the 3 year period. I can't go back farther as I don't have a subscription to stockcharts. However,when I view the chart it portends either a bounce coming off the 200 day moving average and then a big decline or just continued decline.

Best to you.


http://stockcharts.c...32965&r=679.png
Peace
johngeorge

#12 dharma

dharma

    Member

  • Traders-Talk User
  • 9,595 posts

Posted 01 February 2010 - 11:02 AM

what is interesting to me is, we take one index and come to conclusions about the entire elephant. friday was not the bottom. as jg points out volume on the decline was huge. so more downside to come. as 08 wave 2 low was a big buying opportunity. a back the truck up event. i think this one will be also. i made over 200% in 09. i think this wil be a similar event. isten to the market. fear will come in. i have several #s which come up. stay alert and above forget what anyone says. let the market tell you. no bull market has ever ended this way.so those top callers are pissing into the wind. dharma

#13 senorBS

senorBS

    Member

  • TT Member+
  • 10,901 posts

Posted 01 February 2010 - 11:15 AM

what is interesting to me is, we take one index and come to conclusions about the entire elephant. friday was not the bottom. as jg points out volume on the decline was huge. so more downside to come. as 08 wave 2 low was a big buying opportunity. a back the truck up event. i think this one will be also.
i made over 200% in 09. i think this wil be a similar event. isten to the market. fear will come in. i have several #s which come up. stay alert and above forget what anyone says. let the market tell you. no bull market has ever ended this way.so those top callers are pissing into the wind. dharma


Dharma Senor fully agrees and wants to see the fear and pessimism grow to mirror the exuberance seen in December. Senor thinks this is a grande wave Dos as well and will eventually be a back up the truck event. It may take weeks or months but it is coming IMO. Patience and waiting for all the ducks to line up and start quacking is my game plan.

BSing away

Senor

#14 dougie

dougie

    Member

  • Traders-Talk User
  • 9,000 posts

Posted 01 February 2010 - 12:01 PM

Not sure I understand fear will come in? The volume tells us fear did come in as do rydex data and comms data could we go lower of course but the 200 has not been touched and gold itself is intact we just made A perfect 38 retrace in the indices now up And away? Doubt it too much damage

#15 goldswinger

goldswinger

    Member

  • Traders-Talk User
  • 2,612 posts

Posted 01 February 2010 - 12:51 PM

Not sure I understand
fear will come in?
The volume tells us fear did come in as do rydex data and comms data
could we go lower
of course
but the 200 has not been touched and gold itself is intact
we just made A perfect 38 retrace in the indices

now up And away?

Doubt it

too much damage

Damage?, Look at the '08 chart, that was damage.... we are starting a bounce Today , it is quite possible we go back and test the highs, tha's the way corrections work, but the lows are still ahead of us. We are just not going to 1500+ on this bounce.....it 's tradeable though.

GS.

Edited by goldswinger, 01 February 2010 - 12:52 PM.


#16 senorBS

senorBS

    Member

  • TT Member+
  • 10,901 posts

Posted 01 February 2010 - 01:48 PM

Not sure I understand
fear will come in?
The volume tells us fear did come in as do rydex data and comms data
could we go lower
of course
but the 200 has not been touched and gold itself is intact
we just made A perfect 38 retrace in the indices

now up And away?

Doubt it

too much damage



Fear shown via sentiment surveys, was not talking volume.

Senor

#17 dougie

dougie

    Member

  • Traders-Talk User
  • 9,000 posts

Posted 01 February 2010 - 02:52 PM

A bounce to anywhere close to new highs would be a huge move

#18 dharma

dharma

    Member

  • Traders-Talk User
  • 9,595 posts

Posted 01 February 2010 - 03:39 PM

A bounce to anywhere close to new highs would be a huge move

while that is in the range of possibilities. it probably is not going to happen. 1160 is more probable. it wouldnt surprise me if the boys get long. we are in 20f3 here. when this finishes , its the recognition phase. dharma

#19 senorBS

senorBS

    Member

  • TT Member+
  • 10,901 posts

Posted 01 February 2010 - 05:23 PM

A bounce to anywhere close to new highs would be a huge move

while that is in the range of possibilities. it probably is not going to happen. 1160 is more probable. it wouldnt surprise me if the boys get long. we are in 20f3 here. when this finishes , its the recognition phase. dharma


I keep looking at the chart and it still could be an a-b-c decline that finished Friday. I don't think so but I am not ruling it out.

NO BS

Senor

#20 dharma

dharma

    Member

  • Traders-Talk User
  • 9,595 posts

Posted 01 February 2010 - 06:56 PM

A bounce to anywhere close to new highs would be a huge move

while that is in the range of possibilities. it probably is not going to happen. 1160 is more probable. it wouldnt surprise me if the boys get long. we are in 20f3 here. when this finishes , its the recognition phase. dharma


I keep looking at the chart and it still could be an a-b-c decline that finished Friday. I don't think so but I am not ruling it out.

NO BS

Senor

absolutely. not one that i favor
dharma

Edited by dharma, 01 February 2010 - 06:57 PM.