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[eminimee]

Personally....I'm still on the fence and even though I'm trying to ignore internals to help me give more confidence in the ED....I can't ignore the B wave count on OEX...just everything I see internally lines up with it......The one indicator I like however for the ED is the spx:vix ratio. I'm posting several things that have me with a foot in the B wave top door on OEX. Quite frankly....the scalps right now are 8 to 12 points or more....so money can be made while dealing with confusion. ..but that doesn't help the swing guy unfortunatley.
A close over 1526 SPX I like the ED....breaking 695/97 south on OEX ...I like the B wave top. If you want an idea of the downside on spx if OEX 695 is taken out....I think it would be at least another 40 points on spx...ie OEX would be headed to at least 672 MINIMUM. (approx 2 spx points for every oex point.)
A bunch of charts.





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Note on spx vix....we could still make one more lower low here and catch the mid line support while spx:vix bottoms on the hourly

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These have me bearish....and in conflict with the ED



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This is both nymo and namo smoothed with a 34ema.
NYMO is bearish and probably in freefall....NAMO has hit a support line....bearish if it falls through





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Edited by Teaparty, 26 July 2007 - 06:25 AM.