6 replies to this topic

[Frac_Man]

On this chart you are at F5 ...... this was the rally, granted it exceeded 1420

However the SPX still did not break its previous high !

Hence the strong probability is still a decline to the F6 target

This hourly fractal maps the last 9 days for the SPX ----- first you must scale it to view it !

So far so good

View the last chart post to get the Big picture

[Frac_Man]

OH, after we hit F6 and it holds .............. then another big rally in 2007

Hank

On this chart you are at F5 ...... this was the rally, granted it exceeded 1420

However the SPX still did not break its previous high !

Hence the strong probability is still a decline to the F6 target

This hourly fractal maps the last 9 days for the SPX ----- first you must scale it to view it !

So far so good

View the last chart post to get the Big picture

[redfoliage2]

Correpondent to SPX, the DOW is at the top of the trading channel: 12500 and is ready for the lower boundary: 12300. You have to hope 12300 can hold though.

Edited by redfoliage2, 28 December 2006 - 01:14 PM.

[Frac_Man]

I'll take the 200 points any day ......... just looking for a turn here

We can look at 12300 later

Hank

Correpondent to SPX, the DOW is at the top of the trading channel: 12500 and is ready for the lower boundary: 12300. You have to hope 12300 can hold though.

[mikie007]

Hank, do you think we are now at or about F6 on the chart and possibly holding before moving higher? That's kinda what I'm feeling using 3 days and 12ish points to scale in this market testing the 2006 high with more highs to come in 2007. But this whole market could head south fast just as well as up. Gotta plan a strategy for a possible 4 day weekend and some oex and spy shorts I'm holding. Or will some additional fractal unfolding occur that I don't see with a hopeful down open? Thank you for the info and pointers, keep up the great work and Happy New Year! Mike

[Frac_Man]

Mike, on the posted chart the F6 was reached at 1426 for a top ..... this was also confirmed with
a 5 bar fractal top .............. that hourly chart did indeed map the last 10 days for the SPX.

As of today we should go lower into the first week of Jan, then it seems at bottom will appear.
I shorted at F6 and will cover probably (F7) in a couple of days this week around the 1400 area.

My longer term target now is around 1480 + for the SPX in the first quarter then the Bust !

Hope this helps you .......................

Hank, do you think we are now at or about F6 on the chart and possibly holding before moving higher? That's kinda what I'm feeling using 3 days and 12ish points to scale in this market testing the 2006 high with more highs to come in 2007. But this whole market could head south fast just as well as up. Gotta plan a strategy for a possible 4 day weekend and some oex and spy shorts I'm holding. Or will some additional fractal unfolding occur that I don't see with a hopeful down open? Thank you for the info and pointers, keep up the great work and Happy New Year!

Mike

[mikie007]

Hank, Yes this does help me in building my understanding and patients is key. I appreciate it and thank you. Mike