10 replies to this topic

[eminimee]

I posted a NYMO 34 ema chart in Nav's thread below "Rinse and Repeat thread"...

Would fit with the count on OEX....here's comparison of that same period shown on the nymo chart
PS: would also allow a lower low for airedales 4.5 low.






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Edited by Teaparty, 16 July 2007 - 08:34 AM.

[thespookyone]

Equity call buyers still pretty lathered up-I doubt they'll get sent a notice when to bail. I'm keeping my eye on index puts intraday today, to see if they provide a quick signal. Sure wouldn't mind seeing the market touch that 1561.80 number and start dropping, but for now, I'll watch and learn. Spooky

[eminimee]

also watch 1556.18 as it's the 1X1
http://stockcharts.com/c-sc/sc?s=$SPX...0406&r=6205

Topping a 1 or B wave is the next big question to be answered...
I'm leaving the B wave possiblilty on OEX as it really only fits there with the count with that higher high back in mid June.
So.....doing an expanded flat 4th or maybe a tiny ED 5th of a C wave...to top 1 or B....regardless....we should then get a playable pull back. Blowing through 1562 spx....we have to still be in a 3 of 5 but not an ED. Remember 1X1 on spx is at 1556.18.
hourly and 15 min
PS: I'm eyeing the 725 july puts for a trade



Click Here to see Full Sized Image



Click Here to see Full Sized Image

http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=28&i=p28497765121&a=89430406&r=7723.png

Edited by Teaparty, 16 July 2007 - 10:45 AM.

[thespookyone]

Thanks for your post, Teaparty! Don't you think though, that the MACD signature is saying we allready finished 3, though?

[eminimee]

3?? what 3? if you are talking about the 3 I mentioned above ..if we blow through 1562?...then no...that 3 couldn't be finished as it is still shorter than 1.

[thespookyone]

3?? what 3?

if you are talking about the 3 I mentioned above ..if we blow through 1562?...then no...that 3 couldn't be finished as it is still shorter than 1.

Was thinking we don't blow through 1562.

[eminimee]

so what 3 were you referring to then?

[thespookyone]

so what 3 were you referring to then?

That, as you said, if we blew through the 1562, we would have to be in a three of five, and not the ED-that 3.

[eminimee]

the point is...if an ED ..it's not 3...it's only top of 1...it would be a 3 if we move through 1562 without good size pull back

[calmcookie]

Mr. Lipton Social, Today will end as you predicted (from last week - down). Too many gaps ... begging for a fill. OMHO