6 replies to this topic

[eminimee]

I have to stress that even a bounce after the overlap of wave 1 (if it happens)....doesn't mean we need a new high....we could though if we are about to bottom a wave 4...no way of knowing if the top is in until the bottom parallel is taken out....which today is at around the 1365 area..
Whether we have found the top or not...I have this as a C wave to complete an X wave....which will mean new lows eventually.
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=4&dy=3&i=p10256149625&a=104586413&r=7860.png

[bobalou]

you did good thurs..I like 1365..w/ a A B C down..the thing I'm all so looking at is the $ / yen, not to good to day ,if your a bull..

[eminimee]

I'm trying not to pay much attention to it...but June light sweet hit 125.98 this morning....I'm thinking even a 3 to 5 buck pull back could get equities pumped a bit...maybe enough for that 5th...we shall see.. PS..at this point in time...I'm expecting 1380 spx to hold...that's the next support number...we'll see what happens there.

Edited by Teaparty, 09 May 2008 - 08:04 AM.

[bobalou]

I think they will push them up,9;45/10;00 then bust them down,and brake wed lows

[eminimee]

I think they will push them up,9;45/10;00 then bust them down,and brake wed lows

??...Thursday was a lower than Wed....and yesterdays low should be broken on open...ES globex has already made new lows

[milbank]

Thanks Teaparty.

[bobalou]

sorry..I'm looking,and trading the nas during the day,, not globex..the yen has a bounce going on now,could be the push up.