the ewave count from 2/23 looks cleary bullish

i'm looking at a 5 minute spx chart provided at this link by futia:

http://2.bp.blogspot...ssureBuilds.jpg

starting with the retest low on 2/23, it is easy to see a five wave impulse up to spx 775 and a bullish flat, or a slight running, ABC correction, with the very clear sharp C-wave appearing during yesterday's action. if we GAP UP today and close at or near or even above spx 780, this count will be confirmed, imho.

in addition, yesterday's news background was unusually ugly and, in that context, the tape action was very positive.

As long as the lows hold on the SPX, you will be fine. If not, you are screwed beyond imagination.

i'm looking at a 5 minute spx chart provided at this link by futia:

http://2.bp.blogspot...ssureBuilds.jpg

starting with the retest low on 2/23, it is easy to see a five wave impulse up to spx 775 and a bullish flat, or a slight running, ABC correction, with the very clear sharp C-wave appearing during yesterday's action. if we GAP UP today and close at or near or even above spx 780, this count will be confirmed, imho.

in addition, yesterday's news background was unusually ugly and, in that context, the tape action was very positive.

Humble1,

We should break Nov lows on SPX tommorow. After that we will see what happens. That's what the break of Nov lows on NYSE MCOs is portending.

As for Carl Futia, you had asked me if i disagreed with him 100 SPX points above and i had said yes. Here we are 100 points below when we last discussed and still keeps beating the same drums. Every time the market takes a beating, he lowers his downside target by 20-30 points and reiterates his call for a huge rally. He has been doing that for more than an year now. Oh well !

Hope you have a good night sleep, like i did yesterday !.

the chart has absolutely noting to do with futia's record, however you characterize it. i simply linked it for clarity. this is not his analysis, but mine. i don't think he uses ewave, at all. fwiw: i don't remember ASKING you for your opinion of futia. and i have no need or reason to promote or defend him. redirecting the thread to an attack on futia is falderal. and i already know how great YOU are because you provide those regular reminders here and at your blog. ™ p.s. tomorrow is saturday.

Edited by humble1, 27 February 2009 - 03:25 AM.

dc: a complete and ideal A=C off of 1/6 high would be 875 - 140 = 735. this is with A: 944-804. such exact 1:1's are rare, though, and C's are often shorter.

Edited by humble1, 27 February 2009 - 03:33 AM.

fwiw: i don't remember ASKING you for your opinion of futia.

But i do...

http://www.traders-t...?...01055&st=20

NAV:

yes, he misread the lindsay pattern. but, he does admit that and i just don't get what that has to do with evaluating his analysis right now. if you say: well, he was wrong and i only listen to folks who are right, you are setting yourself up to being disappointed and to being a guru-groupie.

since you clearly know a LOT about markets, why not just look at it from the standpoint of whether or not YOU agree with his current analysis? i don't know how else to approach this game.

regards,

H1




Actually Carl Futia does some pretty good analysis. I like the way he uses the box theory. It gives some uncanny measured move projections. That's the part i love about Carl. As for calling the turns, his analysis has been very subjective and he has been adamantly one-sided and wrong sided. I love to listen to all market observers and open minded to their intrepretations. My stance has been clear. We topped out at 940. I made that call one day after we topped and since then my expectation has been that we would test the Nov lows. So essentially i disagree with Carl. But who knows ? The market action may change my mind.

yup: i implied YOU should look at it from that standpoint and that was AFTER you gave your opinion, which was not ASKED for as i said in my post just above. i didn't ask you what your opinion of futia is or was; you gave it and i responded. it's that comprehension thingy. p.s. but here we go again: none of this has to do with the ewave count i was referring to in my thread.

Edited by humble1, 27 February 2009 - 03:44 AM.

yup: i implied YOU should look at it from that standpoint and that was AFTER you gave your opinion, which was not ASKED for as i said in my post just above. i didn't ask you what your opinion of futia is or was.

it's that comprehension thingy again.

Since every one of your posts (including the one we are talking about ) says "comments? ", i responded in that thread. Otherwise, it's none of my business what Mr Futia does. Now maybe you should change that signature line of yours to "no comments", so that we can properly comprehend it. Good Night !

sleep well; i already have.

Double down at 600.