6 replies to this topic

[humble1]

starting just before the full moon, the midpoint of the expected pattern and right on time, it appears the recognition or acceptance wave of this first vicious decline off of the july highs has fully gripped the markets. in neely terms, i would count this as "e" of a five wave pattern. the neely "e" is the "devastating" wave and i expect this one to live up to its name. how far we have to go in price is undetermined, but i suspect a couple of hundred more spx points is in order if there IS order. in time, i like the vicinity of that solar eclipse at the 9/11 new moon for a low. the history of that date may be irrelevant here, but it adds an additional chill. the hysterical screams for help we hear from many well connected marker observers are an inside look at how rotten things are. these people are in close contact, through family and friends and business connections, with the horrid, real world of financial collapse. today i heard well respected and usually subdued david jones (the bond observer and economist) call for an immediate one point rate cut. this is much more meanigful than the screeching from kudlow and cramer as they see the medicine heading for their mouths (open wide !). this is the real thing.

[redfoliage2]

Near term it looks that the Aug 16 low has to be re-visited.

[pisces]

starting just before the full moon, the midpoint of the expected pattern and right on time, it appears the recognition or acceptance wave of this first vicious decline off of the july highs has fully gripped the markets. in neely terms, i would count this as "e" of a five wave pattern. the neely "e" is the "devastating" wave and i expect this one to live up to its name.

how far we have to go in price is undetermined, but i suspect a couple of hundred more spx points is in order if there IS order. in time, i like the vicinity of that solar eclipse at the 9/11 new moon for a low. the history of that date may be irrelevant here, but it adds an additional chill.

the hysterical screams for help we hear from many well connected marker observers are an inside look at how rotten things are. these people are in close contact, through family and friends and business connections, with the horrid, real world of financial collapse. today i heard well respected and usually subdued david jones (the bond observer and economist) call for an immediate one point rate cut. this is much more meanigful than the screeching from kudlow and cramer as they see the medicine heading for their mouths (open wide !).

this is the real thing.

I think we all might be sitting in the front row watching a huge beartrap beiing built right under our eyes,

i can almost smell the scorched fur.

of course one can never be sure,therefore never ever trade without stops.

best of luck to all.

Pisces.

[humble1]

thanks to you both for your comments ! that reminds me, i forgot to put this at the bottom of my original post: YOUR COMMENTS ARE URGED AND WELCOMED; PLEASE CHIME IN. ALTERNATE VIEWS AND COUNTS AND CHARTS, SUPPORTING VIEWS AND COUNTS AND CHARTS, GENERAL COMMENTARY: PLEASE POST THEM. regards and good trading to all ... h1

[Tor]

thanks to you both for your comments !

that reminds me, i forgot to put this at the bottom of my original post:

YOUR COMMENTS ARE URGED AND WELCOMED; PLEASE CHIME IN.

ALTERNATE VIEWS AND COUNTS AND CHARTS, SUPPORTING VIEWS AND COUNTS AND CHARTS, GENERAL COMMENTARY: PLEASE POST THEM.


regards and good trading to all ...

h1

I thought Neely was BULLISH, LIKE EVERYONE ELSE????

[humble1]

he could well be; i have no idea. i was not speaking about his position, just my read of the waves. we could just as easily - maybe more easily - read this as C-in-progress of an ABC off of the top, using the classic elliott wave approach. but, it doesn't really matter, they could both be right since the direction and severity are consistent.

[skyymaster]

My two cents and I posted this early yesterday. My analysis is simple. Go down to fill the gaps before we visit the highs again. There is a nice one waiting for Nasdaq at 2460 just below the neckline. Best guess, if not today or tommorrow then after labor day. You have to watch out for these holiday anamolies you know.