call me nuts but i think we bottom tomorrow

this ewave pattern is just about complete and pc ratios look good to me i say we bottom tomorrow famous last words i know also right now people are very emotional thats always a precursor to a major turn g and of course i reserve the right to be wrong

A long tail candle like on 8/16 would fit your scenario for tomorrow. Any thoughts on the 5th wave here ? Looking at SPX daily chart, I see more of an ABC pattern than five waves down. Or, we are still in the early phases of the third wave, which would limit any recovery bounce to 1405 ... (!)

Edited by beta, 15 January 2008 - 08:55 PM.

this ewave pattern is just about complete and pc ratios look good to me i say we bottom
tomorrow
famous last words i know

also right now people are very emotional thats always a precursor to a major turn

g

and of course i reserve the right to be wrong

I was telling one of friends early in the day as I was studing the INTC chart that I would not be surprised to see intel down around 17 again in the very near future.... didn't think it would happen almost over night.

This is just a quick simple chart I did a few days ago posibly showing what could happen for a bottom for the SPY.

There is still a GAP up in the 149.50 ish area that still needs filling. When is the ?.... There is a bradley turn date on FEB 3rd however that is a Sunday so really the 4th. (plotted on chart) - MAX PAIN for options was around 145 ... which of course we probably woun't see... but anything in this market is possible!!! Don't forget that there is a Head and Shoulders showing as well ... many senarios out there... shall see what happens - WC

[img]http://quote.prophet.net/JCPrintChart?href=http://ABUNDANCE.prophet.net/TemporaryFiles/JavaCharts/36.1200448406790.print.gif[/img]

... one more thought on the ewave structure: under the five waves scenario, if one considers this to be a major "3" impulse down from the peak (starting at 1523), the problem I see is that there is no alternation of 2/4 waves. Wave "2" was simple, so "4" should be complex. But so far, I see only two simple corrective waves. So either "4" is still completing (i.e., another minor wave up to 1430) or something else is going on - ? Im inclined to think we get one more wave up to the 1430 zone before the "5" takes place next week, per Blustar and Semi's scenario.

Edited by beta, 15 January 2008 - 09:10 PM.

Testing the August 16 lows of 1370. All depends on the volume as to whether we get a bounce. If we don't pierce those lows here, then we should slice through 1370 during the last week of January on high volume. t~

Focusing on companies reporting earnings, WFC doesn't look too bad but JPM looks like it could be trouble...



http://bigcharts.mar...&mocktick=1.gif



It's right on the cliff edge with volume here... The problem is more volume is on it's way.

All depends on the volume as to whether
we get a bounce.

GOOD POINT!!!!!!!!

A long tail candle like on 8/16 would fit your scenario for tomorrow.

Any thoughts on the 5th wave here ?

Looking at SPX daily chart, I see more of an ABC pattern than five waves down.

Or, we are still in the early phases of the third wave, which would limit any recovery bounce to 1405 ... (!)

beta
if u look at the decline in the qqqq starting dec 11 that was an a wave that was not impulsive then we
did a b wave rally up to about 52.6 then the c wave started . i feel when c is finished the
down move is finished. the only question is where does c finish. i think its close but awful
hard to say

g

"famous last words i know" Bet it. The phrase "don't put the cart before the horse" comes to mind.

A long tail candle like on 8/16 would fit your scenario for tomorrow.

Any thoughts on the 5th wave here ?

Looking at SPX daily chart, I see more of an ABC pattern than five waves down.

Or, we are still in the early phases of the third wave, which would limit any recovery bounce to 1405 ... (!)

beta
if u look at the decline in the qqqq starting dec 11 that was an a wave that was not impulsive then we
did a b wave rally up to about 52.6 then the c wave started . i feel when c is finished the
down move is finished. the only question is where does c finish. i think its close but awful
hard to say

g

Thanks, Gman -- that's what Im seeing, too. On a micro-level, I still think "4" of C is problematic (incomplete).