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#51 tsharp

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Posted 19 April 2016 - 09:20 AM

IMHO, except for latent TLs, now that we've broken through the .886 fib, it seems the next resistance should be 2134.72... time will tell.

 

Link to chart:  http://postimg.org/image/yidyejgm1/

 

SPX_60_4_19_16_1.jpg



#52 tsharp

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Posted 20 April 2016 - 06:25 PM

I had state certifications to test for today, so wasn't at my trading computer.  At the end of the day, it appears to me that a running second wave completed or nearly completed.  My best guess at this point is from the wave-iv low, we have a wave-i, wave-ii - wave-i, wave-ii.  If this interpretation is correct, tomorrow could be a fairly strong up day, but as always... time will tell.



#53 tsharp

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Posted 21 April 2016 - 11:23 AM

Okay then... a revision is in order... so it appears that only a wave-i, wave-ii have developed, and wave-ii seems to be nearing completion, though may drop low enough to test the backside of the DTL... time will tell.

 

Link to SPX 60-min chart: http://postimg.org/image/fa0q4otsp/

 

SPX_60_4_21_16.jpg



#54 tsharp

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Posted 23 April 2016 - 11:46 AM

A full compliment of charts today. I had to come into the office, to catch up on some work, so thought to post the SPX 60-min, Daily and Weekly charts today.

 

The SPX hourly could be finishing wave-i, wave-ii of the larger wave-v, notice that we found support at the +100 level of the indicator chart, and if so, the price will continue upward the coming week. If wave-(i) was at the 2110ish mark, then wave-(ii) is still in work and could work on down lower to the 2040-50 range, the previous wave-iv level, or at the melon-colored UTL on the indicator chart.

 

Chart link: http://postimg.org/image/4k0kmmsih/

 

SPX_60_4_22_16.jpg

 

The Daily SPX with the fast momentum indicator performed as expected. Price came through the last DTL and came back to test it for support, and the indicator came through the +100 and came back to find support there too:

 

Chart link: http://postimg.org/image/dt2qwr1eh/

 

SPX_D_4_22_16_1.jpg

 

The Daily SPX with the slower momentum indicator also performed as expected, finding resistance and support at a couple of latent TLs. If the uptrend is still in tact, it will be drawn upward to the +100 line, then to the DTLs:

 

Chart link: http://postimg.org/image/h1btnjd21/

 

SPX_D_4_22_16_2.jpg

 

The Weekly SPX with the fast setting shows room to continue upward, and if the upward trend is still in tact, the indicator line will be drawn to the next DTL and +100 line, which should be above the ATHs:

 

Chart link: http://postimg.org/image/rco6g74rd/

 

SPX_W_4_22_16_1.jpg

 

Then finally, the SPX with the slower setting seems also to be drawn (indicator line) to the next DTL, which is also confluent with the +100 line, so if the uptrend is in tact, I would suspect to find some resistance there:

 

Chart link: http://postimg.org/image/3myqri6e1/

 

SPX_W_4_22_16_2.jpg

 

To summarize, I allow for some continued downward price movement in a corrective wave-(ii), but favor the price to continue upward in wave-iii of wave-v, on the way to complete wave-(i), with a target in the 2160-2200 range.  There is an alternate count that allows a strong upward thrust to the 2500 range, and if we blow past the 2200 range, I will show that alt count instead.

 

Have a great weekend all!



#55 tsharp

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Posted 27 April 2016 - 11:49 AM

FWIW, there is a RH&S formation on the SPX Futs that appears to be pointing to a break upward, and if it does, it also appears that 2012 would be the approximate target... time will tell.

 

Chart link: http://postimg.org/image/j2cxlz2s9/

 

RH_S_SPX_FUTS.jpg



#56 tsharp

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Posted 28 April 2016 - 07:14 AM

The SPX stalled out at the base of the RH&S TL, which suggests that wave-ii or wave-(ii) is still in play with the completion of a wave-b.  Wave-c is often a quick event, so depending on where we finally find support, in the 2070 range or the 2040 range, will help determine the magnitude this corrective wave.

 

Chart link: http://postimg.org/image/9nbaxd5uh/

 

SPX_60_4_27_16.jpg



#57 tsharp

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Posted 28 April 2016 - 02:52 PM

What a great day to catch everyone off guard!  If the SPX is only working off a wave-ii correction, I have wave-a = wave-c at about SPX 2066... if a wave-(ii) is working, then it may continue on down to the 2040 range... I prefer the former, as it would whipsaw more and keep more of the traders confused, but as always.... time will tell.

 

Chart link: http://postimg.org/image/8mtwakzbt/

 

SPX_60_4_28_16.jpg



#58 tsharp

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Posted 03 May 2016 - 12:19 PM

I am traveling this week, and preparing for it has me incredibly tied up.  This is my best interpretation at the moment.  There are definitely five waves down, but a wave-i never starts off with a diagonal, so I interpret the imminent low as the bottom of wave-(ii)... and as always... time will tell.

 

I will on the road for the next couple of days, so nothing again until Friday or the weekend.

 

Link to chart: http://postimg.org/image/bvqwubgbd/

 

SPX_60_5_3_16.jpg



#59 tsharp

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Posted 05 May 2016 - 01:51 PM

In light of how long this corrective move is taking, I made a few adjustments on the count, and this is how I see things at this moment on the SPX:

 

Chart link:  http://postimg.org/image/h4qzpb521/

 

SPX_60_5_5_16.jpg



#60 tsharp

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Posted 10 May 2016 - 08:07 AM

If my present wave count is correct, we continue upward, though will likely encounter some resistance at the top of the channel TL:

 

Chart link: http://postimg.org/image/cu8niq8gp/

 

SPX_60_5_9_16.jpg