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TDSEQh13 buy signal at 1.382 fib extension in $RUT for end of 5 waves down


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#1 Geomean

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Posted 02 August 2017 - 10:41 AM

A TDSEQh13 buy signal printed at the 10:30 CDT bar at the .382 extension of the length of minuette wave 1~3, which is a common ending point.  If the Hurst Cycle analysis is correct we have most likely seen an 18 month high in the $RUT and the next swing would tend to confirm that view if it is only a retrace which normally would be to roughly the 4th wave of lesser degree between 1416-1420, but wave 1's are often deeply retraced. 

 

So this is an area which merits close attention and if it retraces and turns down again before making a new high (or just a slightly higher high if we are in an A-B-C where B's can print higher highs), then we could be in minuette 3 of 5 of minute wave 1 down. 

 

However, this last thrust down is in a ongoing buy set up count which, if it completes, would cancel this TDSEQh13 buy as the settings used in this instance require.

 

Given the potential 18 month nature of this high it might be best to hold shorts during the first retrace of this down move and perhaps view it as an opportunity to add to one's position since there is a clearly identifiable stop area at the high of 7/25, or slightly above in case we are seeing an A B C start to this leg.  Also, some Elliottians are counting the Russell in a way that a high here would be at least a cycle degree wave 5.

 

ATB

Geo


Edited by Geomean, 02 August 2017 - 10:48 AM.

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#2 dowdeva

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Posted 02 August 2017 - 12:30 PM

Geo; I trade the RUT frequently and thank you for this info.

 

In regards to this statement,

 

"So this is an area which merits close attention and if it retraces and turns down again before making a new high (or just a slightly higher high if we are in an A-B-C where B's can print higher highs), then we could be in minuette 3 of 5 of minute wave 1 down..." 

 

I assume you are speaking of the high of 1450 and not the high of today.?

 

And also,

 

"However, this last thrust down is in a ongoing buy set up count which, if it completes, would cancel this TDSEQh13 buy as the settings used in this instance require..."

 

Don't you mean this last thrust down is an ongoing sell set up? If I am wrong, could you expand on this statement?

 

Thanks in advance,

 

Warm regards


Edited by dowdeva, 02 August 2017 - 12:39 PM.


#3 Geomean

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Posted 02 August 2017 - 12:43 PM

DD Your takes are correct.  Sometimes English is an impediment to communication, especially when discussing DeMark. yes.gif


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#4 dowdeva

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Posted 02 August 2017 - 02:33 PM

DD Your takes are correct.  Sometimes English is an impediment to communication, especially when discussing DeMark. yes.gif

 

 

I now xeacly what u eman, dude!

 

swoon.gif

 

Ps: At lest i luked up 'minuette', so u din't have to say that....


Edited by dowdeva, 02 August 2017 - 02:35 PM.


#5 Geomean

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Posted 03 August 2017 - 02:18 PM

Since $RUT broke below yesterday's low, I'm thinking that the retrace wave ii is done or that we are seeing an extension of v of 1 (although an expanded flat is still possible if it doesn't accelerate downward).   In any case the bounce from yesterday's low has been very weak. There was a TD Combo 13 buy in the hourly at 12:30 CDT and it is continuing down.  If it breaks the 6/22 low then odds are that the top is probably in. 


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