The question to answer is has a new +100 to -50 limit been set for this model or do we have to do a normal -100 for a tradable bottom?
That +100 was made during low volume low participation last week of the year so I have no faith in that +100 reading. I would favor no low until the model drops near -100. We need a price breakout on higher volume than the previos high volume day. Friday made a lower low on higher volume than the previous day so odds are Monday is a lower low day.
Best,
Larry
The question is has a new limit been set?
Started by
LarryT
, Jan 31 2009 12:42 PM
2 replies to this topic
#1
LarryT
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Posted 31 January 2009 - 12:42 PM
The question to answer is has a new +100 to -50 limit been set for this model or do we have to do a normal -100 for a tradable bottom?
That +100 was made during low volume low participation last week of the year so I have no faith in that +100 reading. I would favor no low until the model drops near -100. We need a price breakout on higher volume than the previos high volume day. Friday made a lower low on higher volume than the previous day so odds are Monday is a lower low day.
Best,
Larry
#2
Douglas
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Posted 31 January 2009 - 02:26 PM
OK, I'll bite. What oscillator indicator is it?
How are you counting the short term Elliott Waves from the early January top? 1 & 2 of the larger 5th wave down done with 3 starting?
#3
LarryT
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Posted 31 January 2009 - 08:28 PM
OK, I'll bite. What oscillator indicator is it?
How are you counting the short term Elliott Waves from the early January top? 1 & 2 of the larger 5th wave down done with 3 starting?
It is a SP-500 advance/decline model indicator of our design. Wave count, my best analysis is the Jan 2009 high was wave four from the 1440 high. Wave one and two of the (5) wave in the three just getting started, target 580s or 360s.
LT
