6 replies to this topic

[humble1]

related fib targets and internals would also be fun. fwiw, i am thinking we are now in wave-C of an ABC off of the top and this ABC will be the first sharp stab of the start of a very severe bear market, the large C looked for after the long grinding B-wave from the october 2002 lows. this putative current wave-C could be the crash ("c" for crash) wave of this first big move, though i still do not believe we will have one BIG crash day, just a series which really would define a crash in a shorter time frame. comments and counts urged and welcomed !

Edited by humble1, 16 August 2007 - 05:51 AM.

[eminimee]

I still see it as corrective...

March low is possible....C=A at 1375

March low on ES continuous was 1370. If spx 1360 fails then we probably test the May 06 high at 1330ish..below that....is probably my ...."oh [bleeeep]" moment.

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=6&dy=27&i=p84781333250&a=93045759&r=3812.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=8&mn=0&dy=0&i=p98598037990&a=99807757&r=3542.png

[fib_1618]

It's far too early to present any kind of longer term count, no less, without knowing which index you're referring to, makes it quite difficult to answer your question in a way that has any substantive value.

However, and for what it's worth, this is the count I'm working with from the recent top that continues to be in line with the current technical condition of the marketplace.

Fib

http://stockcharts.com/c-sc/sc?s=$NYA&p=D&st=2007-05-01&i=p81197755190&a=114335733&r=9049.png

[humble1]

teaparty: great chart. i agree with your B top, but i am thinking the first wave down stopped at the ~1440 level and then we have a pretty-easy-to-see runner stopping at your/my B, where you have it. my count would imply a sharper and deeper C, as you know. also, nice counting on the drive to spx 1557 ! i can just as easily count the whole move as a three waver, ABC; in fact, that looks better when i use the across-the-room persepctive. i appreciate very much your response; it has helped me with my own view. ___________________________________________________________ 1618: you are exactly right; i was thinking spx but should have said that. thanks for your excellent commentary and the chart and count of the NYA. i don't follow that one but i will print it and study it.

Edited by humble1, 16 August 2007 - 07:02 AM.

[NAV]

humble1,

My count....

[humble1]

thanks nav ! i'm bookmarking your site. awesome.

Edited by humble1, 16 August 2007 - 09:03 AM.

[thespookyone]

Nice take, Fib.