Taking out yesterday's highs is a big tell....Looking at the futures....looks like we should take yesterdays high out on OEX....but they could start crapping out before open...I have 1492 as resistance on ES....things look strong and OEX did come within 4 of my target yesterday...although I would have liked to have seen a direct hit. Whether the low is in or not...I'm still viewing this as a bottom of a C wave and we will be making new highs.
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OEX...bottom in?
Started by
eminimee
, Jul 31 2007 06:12 AM
5 replies to this topic
#1
Posted 31 July 2007 - 06:12 AM
#2
Posted 31 July 2007 - 07:07 AM
great charts as always
German DAX is getting close to 7.669 - a 38,2 per cent retracement from the bottom at 7.372
currrently up 2 per cent
if we manage to break 7.669 we will be heading for 50 per cent retracement at 7.761
this would not rule out any big moves down, but would be a good indicator that we have found the bottom for the next weeks
by the way where is da chief????!!!!!
Edited by relax_dk, 31 July 2007 - 07:09 AM.
#3
Posted 31 July 2007 - 07:56 AM
#4
Posted 31 July 2007 - 08:54 AM
It's not pretty...butI'm hangin on to the idea....by a thread mind you.
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#5
Posted 31 July 2007 - 10:04 AM
Your 3rd wave on this last intraday count is shorter than the 1st and 5th waves...
#6
Posted 31 July 2007 - 10:18 AM
it's an ED fifth of a C wave. Plus I shifted them..
http://stockcharts.com/c-sc/sc?s=$OEX&p=5&yr=0&mn=0&dy=3&i=p50528919595&a=106624082&r=5364.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=5&yr=0&mn=0&dy=3&i=p50528919595&a=106624082&r=5364.png
Edited by Teaparty, 31 July 2007 - 10:19 AM.