5 replies to this topic

[eminimee]

If we are bottoming a 2 wave this morning and we go on to make a new high on ES/SPX.....keep an eye on this for divergence and OEX makes a lower high to form a right shoulder...Some targets marked if so.



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Using a channel top...first hour hour day session is at 1512 which we have hit on globex. If by any chance we need to test the wedge top...it's at 1501.50 first hour for reference. So far globex didn't like the smell of 1512
The 50% retrace back to the low from yesterdays high(day session) is at 1511.25 which would be a hit on that channel top in the 11:30 second hour. fwiw






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[skyymaster]

If we are bottoming a 2 wave this morning and we go on to make a new high on ES/SPX.....keep an eye on this for divergence and OEX makes a lower high to form a right shoulder...Some targets marked if so.



Click Here to see Full Sized Image



Using a channel top...first hour hour day session is at 1512 which we have hit on globex. If by any chance we need to test the wedge top...it's at 1501.50 first hour for reference. So far globex didn't like the smell of 1512
The 50% retrace back to the low from yesterdays high(day session) is at 1511.25 which would be a hit on that channel top in the 11:30 second hour. fwiw







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Tea, on the SPX, it could still be that Head and Shoulders bottom you were projecting yesterday. Take a look at the 10 day chart, it would need to go to around 1515.

Edited by skyymaster, 29 June 2007 - 07:30 AM.

[eminimee]

Cheif...come on...dont' start with the [bleeeep], what's the point??....

Sky...slightly new pattern if it's good..
with neckline at yesterdays highs approx. 1527/28. Would have a target of approx. 1562ish if good.





better shot

Edited by Teaparty, 29 June 2007 - 08:01 AM.

[skyymaster]

Cheif...come on...dont' start with the [bleeeep], what's the point??....

Sky...slightly new pattern if it's good..
with neckline at yesterdays highs approx. 1527/28. Would have a target of approx. 1562ish if good.

Check my post, it just may hit the high in couple of days.

[eminimee]

taking out yesterdays high is obviously bullish...but have to watch that 23 ish isn't just the top of a b wave and would have to test the 1512 low or slightly lower fwiw...ZB very supportive for a rally

Edited by Teaparty, 29 June 2007 - 08:25 AM.

[eminimee]

Arguing for a bigger dip and maybe a b wave top here of an

ABC of 2..would be if the Q's need a deeper dip of this ED 5th. B wave dip. If ES takes out yesterdays highs first...doubtful



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