24 replies to this topic

[NAV]

I post e-wave counts only when i see high probability setups. I am seeing one right now, which points to SPX cash 1325-30. No GAURANTEES in this business of course

Enjoy !

[DraggdOut]

This is a very refreshing post. At the most simplistic level, all we are seeing is lower lows & lower highs. As long as that channel is intact, this is still an IT correction. When volatility, fear, and greed are all high, often the forest is lost in search of the trees...

[eminimee]

that's one possibility Nav....there are many right now...I have that pattern but as an ED C wave of an expanded flat....with the B wave at the 1556 highs. The most recent high being wave 4...then a three wave 5 down to new lows.



A bullish view would be we finished a wave 1 or half of a wave 1 up of an ED....too many things going on...I'm scalping ...personally... I would like to see OEX 629.



http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=4&i=p83797310860&a=93322579&r=4233.png

Edited by Teaparty, 20 August 2007 - 12:42 PM.

[denleo]

NAV, I disagree. I am neutral here, but the low of August 16th was made on the highest volume ever. It will be almost impossible to break it over the next few days / weeks (not before another sell off in October). Denleo

[NAV]

NAV, I disagree. I am neutral here, but the low of August 16th was made on the highest volume ever. It will be almost impossible to break it over the next few days / weeks (not before another sell off in October).

Denleo

Denleo,

As far as the highest volume argument goes....

You could have said the same thing on 2/27/07. But on 3/14/07 we made a new low.

You could have said the same thing on 7/27/07. But on 8/1/07 we made a new low.

You could have said the same thing on 8/1/01. But on 8/6/07 we made a new low.

[denleo]

NAV, I disagree. I am neutral here, but the low of August 16th was made on the highest volume ever. It will be almost impossible to break it over the next few days / weeks (not before another sell off in October).

Denleo

Denleo,

As far as the highest volume argument goes....

You could have said the same thing on 2/27/07. But on 3/14/07 we made a new low.

You could have said the same thing on 7/27/07. But on 8/1/07 we made a new low.

You could have said the same thing on 8/1/01. But on 8/6/07 we made a new low.

I could have, but I didn't. I am saying it now.

Denleo

[NAV]

NAV, I disagree. I am neutral here, but the low of August 16th was made on the highest volume ever. It will be almost impossible to break it over the next few days / weeks (not before another sell off in October).

Denleo

Denleo,

As far as the highest volume argument goes....

You could have said the same thing on 2/27/07. But on 3/14/07 we made a new low.

You could have said the same thing on 7/27/07. But on 8/1/07 we made a new low.

You could have said the same thing on 8/1/01. But on 8/6/07 we made a new low.

I could have, but I didn't. I am saying it now.

Denleo

Then it begs the question - What's so different this time ?. The past instances i mentioned were all, All Time High Volume lows as well.


????

Edited by NAV, 20 August 2007 - 12:59 PM.

[SemiBizz]

Actually, the most bullish thing that could happen on today's light volume would be a test of those lows. That high volume low is like a magnet... Volume attracts price.

[eminimee]

Would love another low.........

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&st=1994-01-01&en=1994-06-01&i=p12527097300&a=114743603&r=4555.png

[denleo]

NAV, I disagree. I am neutral here, but the low of August 16th was made on the highest volume ever. It will be almost impossible to break it over the next few days / weeks (not before another sell off in October).

Denleo

Denleo,

As far as the highest volume argument goes....

You could have said the same thing on 2/27/07. But on 3/14/07 we made a new low.

You could have said the same thing on 7/27/07. But on 8/1/07 we made a new low.

You could have said the same thing on 8/1/01. But on 8/6/07 we made a new low.

NAV, I have about 10 good reasons. I will name 3:

Were equity P/C ratio above 1 three days in a row leading to those dates?

Was number of new 52 week lows (relative %) third highest after october 19th 1987 and August 31st 1998?

Were valuations at 10 year low?

Denleo


I could have, but I didn't. I am saying it now.

Denleo

Then it begs the question - What's so different this time ?. The past instances i mentioned were all, All Time High Volume lows as well.


????

Equity P/C ratio above 1 three days in a row

percent of NYSE stocks making 52-low third highest since 10/19/87 and 10/31/98

Denleo