6 replies to this topic

[dcengr]

We know that Wave B is the "sucker" rally, and those of intermediate degree are marked by low volume rises.

Wave B is supposedly an odd-lot mentality, and by the poll results here at FF, many seems to have bought "the bottom".

The blogger poll, as well as AAII showed a sudden large bullish shift from previous readings. It was as if the entire world saw the lows and bought in.



Meanwhile, the fractal similarity to 66, 46, 36 still is very uncanny.

If this is Wave C, it often retraces all of Wave B and 50% more, sending my target to Qs 40, SPX around 1310.

Another possibility is that Wave B isn't done yet. That it'll take a few more weeks of slight upside to get it done by back filling and steady upside.

I would watch sentiment carefully here. If we see many loading up even more, then my guess is Wave C has started. If I see many turning quickly bearish here, Wave B hasn't completed.

[OEXCHAOS]

Check it out:

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[dcengr]

Thats Mark. That poll I did on thursday was also telling. If you recall, there was a HUGE shift in fully long bulls, and my poll showed that many went long right before the Fed, and many also went long at the bottom. Its not of my experience that the many can correctly recognize "da bottom", so I was thinking maybe the Wave B top was here. Not to mention RSI2 gave a strong sell on all major indices. We need to keep a very keen eye on sentiment the next few days and see where this is leading us.

[.Blizzard]

Yes the wave C is underway Bernanke & Co. are liars. ...Simply they have lost their credibility

[Frac_Man]

I'm looking at this as the start of the Big Wave 3 Down !

We know that Wave B is the "sucker" rally, and those of intermediate degree are marked by low volume rises.

Wave B is supposedly an odd-lot mentality, and by the poll results here at FF, many seems to have bought "the bottom".

The blogger poll, as well as AAII showed a sudden large bullish shift from previous readings. It was as if the entire world saw the lows and bought in.



Meanwhile, the fractal similarity to 66, 46, 36 still is very uncanny.

If this is Wave C, it often retraces all of Wave B and 50% more, sending my target to Qs 40, SPX around 1310.

Another possibility is that Wave B isn't done yet. That it'll take a few more weeks of slight upside to get it done by back filling and steady upside.

I would watch sentiment carefully here. If we see many loading up even more, then my guess is Wave C has started. If I see many turning quickly bearish here, Wave B hasn't completed.

[dcengr]

Thats Mark.

I meant THANKS Mark.. sorry for the misspelling, just noticed, LOL.

BTW, its too early to tell if Wave B has ended...

Look at this 1966 fractal. Wave B may last a few weeks more... note that after a sharp run up, there was a little squiggle downward.

I'm not sure if sentiment has reached a point of going "stubbornly bullish" yet...

[OEXCHAOS]

NP, I just want to add that this board actually IS very good at getting positioned right at lows. Check out past surveys. Frankly, "we're" amazingly good at it. They just seem to get off the horse fairly quickly. Mark