Just a quick observation... there appears to be a bullish pennant formation on the SPX, which would actually target slightly above the DTL, if it plays out... time will tell.
SPX thoughts
Started by
tsharp
, Feb 28 2016 01:13 AM
363 replies to this topic
#32
tsharp
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Posted 31 March 2016 - 11:00 AM
So why are we stuck at this price range? We've retraced to the fib .786 level, so it's a fitting place for a pause...
#33
tsharp
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Posted 01 April 2016 - 01:23 PM
I've been saying lately that the market feels much like it did in the late 90s, and today is another example of the corrective c-wave to start the day, only to be followed by a sharp reversal... the top DLT should be the next upward target, then 2134.72, but as always, time will tell.
#34
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Posted 04 April 2016 - 09:40 AM
Armstrong: Dow close to triggering weekly bullish reversals - 17,680 & 17,750 already attained, with 17,846 to go...
https://www.armstron...he-close-today/
#35
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Posted 05 April 2016 - 08:12 AM
My best guess at the moment is that we are in wave-c of wave-ii, and will find a bottom today or tomorrow, then move back upward in wave-iii, which could be quite the upward thrust, but as always... time will tell.
#36
pisces
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Posted 05 April 2016 - 08:43 AM
My best guess at the moment is that we are in wave-c of wave-ii, and will find a bottom today or tomorrow, then move back upward in wave-iii, which could be quite the upward thrust, but as always... time will tell.
T,thanks for all your updates on your work you are sharing here..
#37
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Posted 07 April 2016 - 03:39 PM
I'm sorry about the delays in getting things posted lately, but I have lots of things on my plate these days, so don't always have time to put my thoughts together as often as I'd like.
As some may appreciate, counting fractal waves is somewhere between an art and something else... so with today's corrective action, it seems my last take is likely incorrect... the only way it would still be a possibility is if this last leg down is doing an EDT... we would know that by Monday or so. In the mean time, here is another possibility, wherein we would find a bottom soonish, then move back upward in a wave-v of wave-(i), then correct in a wave-(ii).
#38
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Posted 08 April 2016 - 03:13 PM
Okay then, it appears we opted for the EDT on the wave-c, and it may still drop back down to the bottom channel line or could end truncated... time will tell. The alt count may be that wave-iii is wave-(i) and we are just finishing wave-(ii), with wave-(iii) soon to get under way, but I think I still favor the count on the chart. I'll post daily and weekly charts next week as things get moving again one way or the other.
Have a great weekend all!
#39
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Posted 11 April 2016 - 07:34 AM
I've mentioned over the past weeks that market action feels much as it did in the late 90s... corrections have been shallow, and if a sharp selloff hits, it's often bought up that day to end the day little changed or actually positive. I do not know what the market will cite as the reason for the breakout to new highs, as that's my take on where this market is going (earnings may actually surprise in a positive manner as they've been discounted already), but I do suggest once that happens, the US will become the "hotspot" as capitol goes where capitol grows, and that will take equity prices much higher from current levels over the next 12-24 months. Below is an alternate take on the last leg upward if it goes in normal 5-3-5-3-5 impulsive fashion, rather than the earlier 3-3-3-3-3 diagonal triangle manner I suggested as a possibility... interesting times coming upon us here.
#40
pisces
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Posted 11 April 2016 - 11:44 AM
I've mentioned over the past weeks that market action feels much as it did in the late 90s... corrections have been shallow, and if a sharp selloff hits, it's often bought up that day to end the day little changed or actually positive. I do not know what the market will cite as the reason for the breakout to new highs, as that's my take on where this market is going (earnings may actually surprise in a positive manner as they've been discounted already), but I do suggest once that happens, the US will become the "hotspot" as capitol goes where capitol grows, and that will take equity prices much higher from current levels over the next 12-24 months. Below is an alternate take on the last leg upward if it goes in normal 5-3-5-3-5 impulsive fashion, rather than the earlier 3-3-3-3-3 diagonal triangle manner I suggested as a possibility... interesting times coming upon us here.
I do not know if anybody else has a problem but I cannot bring up your charts can somebody help,thanks
