I look for a range bound day, with 1659 tops (I think) and a close near yesterday's close. I see the distinct possibility we see 1620/21 tomorrow and a close at or near 1633.
Projections are 1680 by Aug 27 and 1744/45 by Sept 12. A 24-25% bear is possible from there into Oct 22 +/- (to near 1312 spx) especially after Oct 4.
If the above scenario happens, I will turn extremely bullish into Nov 2014 to above 2550 to near 2570 spx.
The 8 TD low on Monday normally has at least 2 days up and that is today. The 8 TD top +/- 2 TD's is due today at the earliest.
I have not seen the requisite divergence yet for a capitulation low and expect that will happen on Thursday.
I Expect Range Bound Day
Started by
blustar
, Aug 21 2013 09:14 AM
3 replies to this topic
#1
blustar
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blustar
#2
The End
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Member
Posted 21 August 2013 - 02:53 PM
A question for you Blustar; I can almost see a move to 1620 by tomorrow and I can see a move to 1680 within a week but, a move from 1745 from Sept 12 to 1312 5 weeks later and than a doubling in the next 13 months? What causes these statements of severe movements in short periods of time. You have many posts similar to this one and you never really explain you thought process. Please don't take this post as an insult, I just want to know where you're coming from. Thanks.
Edited by The End, 21 August 2013 - 02:55 PM.
NONE of what I type should be taken as financial advice.
#3
SemiBizz
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Volume Dynamics Specialist
Posted 21 August 2013 - 04:33 PM
Simple ABC
Using 1600 as A pt, 1710 B, looking for like 1633 or so as his C and then that gives you the 1744 area for ABC Up Target... That's one ABC, he may be using other points.
I don't quite see it that way, looking at the Small ABC Down setup with the flat B to C we just did to about 1659, then 1595 for the D. Could go either way, volume sucks but we did see price momentum prevail at the close and then that also rolled into the futures close.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
blustar
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blustar
Posted 22 August 2013 - 02:08 PM
I see 1623 area being tested first before we go up and now that looks like Tuesday next week. The 1740 area by now Sept 17 or so. there is a crash scenario possible for this fall, even lower than I project to as low as 881 SPX and the date I have now is Nov 21-22 based on changing data. We will likely test the 1680-83 area next Friday. For now I see a test of 1660-61
