A Microscopic Look at the Elliott Wave and the S&P 500
#1
Posted 17 September 2017 - 05:40 PM
#2
Posted 17 September 2017 - 06:32 PM
"3rd waves are ''wonders to behold'' and for many good reasons. Technically, this is the time where most analysts throw in the towel as price is now confirming what the internals told the analyst during wave 1 which was a change in direction was probable. This is also the time in which extremes in many indicators will show up - something in which I refer to as ''flags'' - which are later used in approximating the termination point of the entire 5 wave pattern sequence structure. In equities, these extremes will be measured in the raw data of both (cumulative) breadth and volume - and the strength or weakness of the indicators that use such information - as well as their relationship to each other. Price pattern wise, one will always be able to identify a third wave because of the fact that price patterns will break out of basic support or resistance areas that were previously controlling the price pattern up until that time. Psychologically, this is when the mind set is that we remember how we all got burned before and that in no way is this the start of a major move higher - also known as climbing the ''wall of worry''. Once the market gets high enough, people start throwing in the towel on their bearish mind set, and this continues to a point when all of the ''willing'' buyers are in the market. 3rd waves are also never the shortest wave in a 5 wave structure, and more times than not, are generally the longest wave in either price, percentage gain, or both, to what will eventually be the larger 5 wave pattern structure sequence overall."
Primer on Elliott Wave analysis: http://tinyurl.com/zpeshcy
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#3
Posted 17 September 2017 - 07:48 PM
thx for the charts fib
klh
#4
Posted 17 September 2017 - 08:41 PM
>Wave 3 of Cycle Wave 5 ended late in 2014< wrong wrong wrong .....the epicenter of primary wave 3 up is under way off the 2nd wave that ended in 2009.....so it is written and so it shall be
#5
Posted 18 September 2017 - 05:35 AM
My opinion wave FOUR completed at the SP-500 twin 1810 area lows of 2014 and 2016. Wave FIVE can morph into a blow off extension and advance a lot higher than anyone thinks except da Chief, in his world there is no top.
#6
Posted 18 September 2017 - 05:48 AM
My opinion wave FOUR completed at the SP-500 twin 1810 area lows of 2014 and 2016. Wave FIVE can morph into a blow off extension and advance a lot higher than anyone thinks except da Chief, in his world there is no top.
LT'S opinion .......lol
#7
Posted 18 September 2017 - 10:58 AM
.....the epicenter of primary wave 3 up is under way off the 2nd wave that ended in 2009.....so it is written and so it shall be
And the internals continue to support this idea.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
#8
Posted 18 September 2017 - 11:10 AM
>Wave 3 of Cycle Wave 5 ended late in 2014< wrong wrong wrong .....the epicenter of primary wave 3 up is under way off the 2nd wave that ended in 2009.....so it is written and so it shall be
it seems the epicenter of primary wave three up....is like a deity......it was, it is.....and it will ever be
forever and only a V-E-N-E-T-K-E-N - langbard
#9
Posted 18 September 2017 - 11:55 AM
>Wave 3 of Cycle Wave 5 ended late in 2014< wrong wrong wrong .....the epicenter of primary wave 3 up is under way off the 2nd wave that ended in 2009.....so it is written and so it shall be
it seems the epicenter of primary wave three up....is like a deity......it was, it is.....and it will ever be
dominus vo biscum
#10
Posted 18 September 2017 - 01:14 PM
The indicators are suggesting higher prices over the next few days. It is quite common to rally into the FOMC announcement. If it does this (which it looks like), we may see prices as high as 2517/18 before the top comes in.
I'm waiting to bail out of shorts and go long later today after this pull back. UVXY is down over 7%. SVXY is up higher than I expected.
I strongly disagree with Wave 3 being past Nov 2014 because I have done the microscopic work I have done ever since the 5 wave bulls from the 1980's and nowhere can it be shown internally that we are still in wave 3 of 5. The only thing it can be is a strong running correcting in the wave 4 position.
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