363 replies to this topic

[tsharp]

Initial target hit... if my count is correct, we will see new highs on the year and a new ATH in due time.

 

Chart link: http://postimg.org/image/ys9pq9cux/

 

[tsharp]

Interesting day of trading... the S&P futures are showing another RH&S pattern, and if it plays out, it shows an upward target of about 1230... time will tell.

 

Chart link: http://postimg.org/image/jrl7e7yah/

 

[tsharp]

Oops... sorry for the typo.... I meant 2130, not 1230... YIKES!

[tsharp]

Okay then, the upward move in the SPX was still in three waves, so we are not yet done with the correction in terms of time. I have a Bradley turn date for today, so ideally, we could finish this wave-(ii) down today.  wave-c = wave-a at SPX 2051.34... as always... time will tell.  BTW, there is still a RH&S formation that the low 2130s.

 

Chart link: http://postimg.org/image/q40t7fiah/

 

[tsharp]

Fractal theory... sometimes you have to adjust your count from the rear-view mirror, and such is the case now.  I had thought May would be a high, but it seems that gets pushed out to July or November, so here's my best adjustment of where we are presently.  If wave-i of wave(v) is complete and wave-ii is trying to find its bottom, then wave-c = wave-a at SPX 2026, if wave-c = .618 wave-a, that would be at SPX 2049, so we would rally a bit, but hit a higher low and then begin moving upward again.

 

In the bigger picture, wave-(v) = wave-(i) at SPX 2363 or wave-(v) = .618 wave-(i) at SPX 2152.  Then we would come back to this range to find wave-2... but as always... time will tell.

 

FYI, the desktop on which most of my chart set-ups were stored (ThinkorSwim) crashed.  I had to recreate this chart on my home laptop, where I will continue to do my future updates.

 

Chart link: http://postimg.org/image/m3bqvlf89/

 

[tsharp]

It appears from the 60-min chart on the SPX that a bottom has been reached or one more down to finish out the c-wave.  We have fallen to the same range as the previous wave-iv and extended to just beyond the .236 retrace for the entire wave-(i)... but as always... time will tell.

 

Chart link: http://postimg.org/image/w0wvivzh5/

 

[tsharp]

Fractal theory... sometimes you have to adjust your count from the rear-view mirror, and such is the case now.  I had thought May would be a high, but it seems that gets pushed out to July or November, so here's my best adjustment of where we are presently.  If wave-i of wave(v) is complete and wave-ii is trying to find its bottom, then wave-c = wave-a at SPX 2026, if wave-c = .618 wave-a, that would be at SPX 2049, so we would rally a bit, but hit a higher low and then begin moving upward again.

 

In the bigger picture, wave-(v) = wave-(i) at SPX 2363 or wave-(v) = .618 wave-(i) at SPX 2152.  Then we would come back to this range to find wave-2... but as always... time will tell.

 

FYI, the desktop on which most of my chart set-ups were stored (ThinkorSwim) crashed.  I had to recreate this chart on my home laptop, where I will continue to do my future updates.

 

Chart link: http://postimg.org/image/m3bqvlf89/

 

 

It appears we may have found the bottom of wave-(ii) today... the wave structure appears to be an ending diagonal 3-3-3-3-3 and the SPX 2026 target was also hit, so that wave-c = wave-a, but as always, we will have to see what the market has to say about such things!

 

Chart link: http://postimg.org/image/4k71zd26x/

 

 

Chart link: http://postimg.org/image/dt989hb2x/

 

[tsharp]

It's a bit early to call it now, as we've seen strong-out-the-gate days that were corrective upward c-waves turn back down and close negative on the day. However, I will feel better if we can close clearly above the top channel TL.  The flag formation seems to be pointing to at least SPX 2080 on this initial move... but as always... time will tell.

 

Chart link: http://postimg.org/image/tf5r8bihl/

 

[tsharp]

It's a bit early to call it now, as we've seen strong-out-the-gate days that were corrective upward c-waves turn back down and close negative on the day. However, I will feel better if we can close clearly above the top channel TL.  The flag formation seems to be pointing to at least SPX 2080 on this initial move... but as always... time will tell.

 

Chart link: http://postimg.org/image/tf5r8bihl/

 

 

 

The mast of the flag measured from SPX 2026-2058, for a length of 32 points.  From the low of yesterday at 2047 the flag formation would be fulfilled at 2079, which we hit just a while ago... IF the 2026 low is actually the wave-(ii) low, that is, if we don't print a more complex corrective wave, then we are now moving upward in the beginning waves of wave-(iii), with a target likely in the 2500 range... and as always... time will tell!

 

Chart link: http://postimg.org/image/q4he8fsk9/

 

[tsharp]

Okay then, we have follow-through this morning, the breakout of the corrective channel, and have broken through four DTLs, all of which helps confirm that wave-(ii) is likely complete and we are back moving upward impulsively again.  If this is the case, I would think we will find some resistance at the SPX 2100 level, as it's near the .886 retrace from 2134 and also it's about 1.618 times the length of the previous 32-point move off the 2026 low.  From there, it is critical we find a new high for the year, so 2111 would be the next critical target, then 2116 so we are no longer making lower highs, then of course, 2135, so we have a new ATH... exciting times... let's see how this all plays out!

 

Chart link: http://postimg.org/image/ra30o9nbt/