3 replies to this topic

[eminimee]

If the general count is remotely correct....then wave 4 does not look complete when looking at the time factor....slight chance that a high could be in but more likely we will take one of two paths to complete the 4th and then make a high in the 47.50 area. If you like a low again on WWW then the triangle idea is favoured over the what might turn into an ED fifth. Reading some boards this weekend...again too bearish for a substantial top to be in. imvho.

http://stockcharts.c...4597&r=8439.png

http://stockcharts.c...9426&r=9026.png

[pdx5]

Market is giving indications of entering the blowout phase. Bad news does not bother it. In fact markets all over the world with few exceptions are in a parabolic mode. This phase could easily continue for a few more weeks. Play the long side but with caution. Personally I am 100% flat.

[eminimee]

I agree, a blow off is possible...RE: SPX two targets for a move into Opex friday/or monday the 21st.
If we see a correction to the 1483/85 area and that holds.....two targets....and if we are putting on a substantial top...I like the higher target near 1540. A big swing ED up to that level would clean out both sides before the drop.
That's if the top isn't in ....I'd have to say that if 1480 area is taken out south on a close....that would be our first indication that top might be in. fwiw.



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[CLK]

And here comes the fifth, right off 46.