5 replies to this topic

[LarryT]

My wave count starts with the 1810 low February 2016. I count that low as the completion of wave FOUR off the 2009 March low at 666.
Wave FIVE off the 1810 low completed wave 4 May 3rd at 2594. The minimum expectation for the 5th wave of wave FIVE is at 2915/2935. A second higher Fibonacci window is at 2992/3062.
Higher still is the rare 4.25 extension at 3303/3359 and if it gets real crazy a 6.85 extension is at 3477/3687. so place your bets, minimum window or 3477/3687?

LT...d:^)

Edited by LarryT, 28 August 2018 - 06:34 AM.

[typicalbear]

Can you share your fib projection points from the May 3 low?

[tsharp]

My wave count starts with the 1810 low February 2016. I count that low as the completion of wave FOUR off the 2009 March low at 666.
Wave FIVE off the 1810 low completed wave 4 May 3rd at 2594. The minimum expectation for the 5th wave of wave FIVE is at 2915/2935. A second higher Fibonacci window is at 2992/3062.
Higher still is the rare 4.25 extension at 3303/3359 and if it gets real crazy a 6.85 extension is at 3477/3687. so place your bets, minimum window or 3477/3687?

LT...d:^)

 

Here's the monthly SPX with my momentum set-up.  On 4.9.16 I forecast a high for the SPX at ~3600, though if it sees a fifth wave extension, which I think is possible in our present conditions, it could move upward to above the ~4700 level... twt.

 

[LarryT]

Can you share your fib projection points from the May 3 low?

Projections off the May 3 low using the first waves 1,2 project 1.618 = 2877, 2.618 = 2992, 4.25 = 3179. Problem is this is a fifth wave that can be extremely
difficult because this is also a 72/76 year cycle fifth wave, could even go parabolic as high as 3687. IF it breaks out past the 2915/2935 minimum any of those
levels are valid targets.

LT

Edited by LarryT, 28 August 2018 - 09:59 AM.

[NAV]

 

 

On 4.9.16 I forecast a high for the SPX at ~3600

I remember that. It was a good call !

[NAV]

How high we go is a function of how the sentiment develops. If the rally continues to get greeted by skepticism and the low volatile grind continues, it will be hard to make any significant bull market top.