alt target for downside 1216 to 1214

there is another massive fib cluster at 1214 to 1216 if this were to be seen by tues next week the upside still projects 1423 if the 1249 low holds , And we start up target is 1455 . once The bear phase cycle ends based on bull cycle phase next up the rally will peak into 5/23/ based on fib cycle and sprial as the top of the cycle . Then we would begin the next mini crash cycle into 7/11/ 2011 and then rally into the topping phase of the bull market top . BEST OF TRADES . P.S. AS OF 1.10 PM EST TODAY THE P/C is entered the levels of nov 2011 low and almost into may low2010

Edited by Wavetimer, 17 March 2011 - 12:14 PM.

Now... I come up with a little different answer, but we're close. Thing to consider is SPX makes the 1.618 Ext But Nasdaq doesn't... We have a little push/pull going on here. One of them is right. I'm always looking for harmony, and we don't quite have it yet.

$SPX Hurst Update

Decline into a Hurst 40 week low is in progress. The crisis in Japan finally got the downside momentum going. Now we look for a cycle low to arrive. Nominally it is due late March (by April 1). A 2.5 week low is due at anytime which should lead to a bounce. The 20 week FLD was crossed to the downside yesterday and projects a target of ~1220 for the 40 week low. The 40 week FLD will drop below the 1200 level into the end of March and should provide support for the coming cycle low. I am waiting for the buy.



cheers,

john

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Edited by SilentOne, 17 March 2011 - 01:31 PM.

there is another massive fib cluster at 1214 to 1216 if this were to be seen by tues next week the upside still projects 1423 if the 1249 low holds , And we start up target is 1455 . once The bear phase cycle ends based on bull cycle phase next up the rally will peak into 5/23/ based on fib cycle and sprial as the top of the cycle . Then we would begin the next mini crash cycle into 7/11/ 2011 and then rally into the topping phase of the bull market top . BEST OF TRADES . P.S. AS OF 1.10 PM EST TODAY THE P/C is entered the levels of nov 2011 low and almost into may low2010

ahhh bach...your target right at the 10% correction level...join the club.

Thanks John. Love that stuff, but have no time to learn how to figuire it-glad you know One thing I can figuire is confluence. In my ewave count 1195.00 (end of day basis), the MCO is saying 1190, other stuff of mine says 1195 on close, and now you say a drop below 1200=Bingo,

Edited by thespookyone, 17 March 2011 - 05:13 PM.

Thanks John. Love that stuff, but have no time to learn how to figuire it-glad you know
One thing I can figuire is confluence. In my ewave count 1195.00 (end of day basis), the MCO is saying 1190, other stuff of mine says 1195 on close, and now you say a drop below 1200=Bingo,

One cannot be 100% certain on targets, but I'd be taking new longs on anything near that 1220 target. That said, I do not have a buy signal for the SPX with today's price action. That is price could not close above the 5 day FLD (calendar). Ready and waiting.

cheers,

john

??? The top of wave one is @ 1220 so a breach below . Means the current bull market would be over???

I feel strongly that we are in a wave 4 up right now... Wave 2 was complex, and wave 4 would not be.. so it would be straight up into broken trendline back test at 1300 where the 50 MA currently lives... Now if it turns out that too many bears pile on at 1300 back test, then wave 4 may become complex. Guess we make that decision when we get there. But so far futures are screaming higher on a day when bad news is all over the media while dow is up with a big gap and yet equity p/c hits .7... talk about a perfect setup.