10 replies to this topic

[Trend-Signals]

Market actions are showing impulsive "Wave 3" which is the strongest.

SPX is lagging today. Technology is favored over financial as we see strong tech sector performance. SPX has financial sector which is reflected on SPX performance today.

Volumes are showing good actions on Nasdaq.

Think that there are many traders in disbelief with "doom and gloom bias" on market actions as they are waiting for a pull back.

Sooner or later, we will see, with 100% assurance, where markets are heading and have to chase after, vice versa.

~~~

Posted by: __1Best__
In reply to: None
Date:8/29/2007 6:29:16 PM
Post #of 2483

1-2-3-4-5, it looks like we are on the way to "Wave 3" on daily price action.

We just completed "Wave 2" with 38% retracement of "Wave 1".

Will see and reassess.

http://investorshub....age_id=22481845
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http://www.stockchar...92643&r=541.png

[eminimee]

hourly buys kicking in now on oex,spx and ES...oex is the key...still need to take out yesterdays highs...but looking good.

[Trend-Signals]

Someone mentioned that he can't believe that the 8/16-8/24 was "Wave 1" because it is too strong.

So far, if "Wave 1" is strong, we haven't seen anything yet on "Wave 3" since it is the strongest one.

So, traders with disbelief will have to chase hard when this ball goes out far.... over the ball park fences.

Think that these moves are because extremely negative sentiment with high short level; however, as noted before the subprime crisis drama has foreseen since the housing market topped. So the news saturating drum beat is often contrarian indicator.

This ball might go.... over the fence, farther than we think. So far, it is heading that way....

We know 100% sure with hindsight, though... will see.

[dcengr]

It was I that said your labeling of wave 1 looked too strong to be wave 1. Now I'm still an EW noob here, and I'm just following some other EW guys that nailed the pivots of the last few years or so, and they don't have your 1 labeled as 1, FWIW. Like many TA, its most obvious AFTER the fact what wave count you're in.. and if we are in wave 3, then Qs would break above 49 and keep running.. If we're in wave 2 up as I think we are, then Qs would be sort of flat from here, then have 1 more run up tomorrow, but not break Qs 49. Then monday, tuesday it would be down hard, pop up on wednesday perhaps for a degree smaller wave 1 up of the bigger wave 3 down, then its more down from here. I think the key would be in knowing what the futures position looked like on friday, what the options picture looks like on friday, and sentiment too. From an internals point of view, its getting pretty overbought, so if it was truly a wave 3, markets shouldn't have a problem plowing right through overbought readings with stronger internals. If its completing wave 2 up, my "guess" is that we'll start to show some breadth weakness going into monday.. But as I've stated before, I'm flat and will wait til monday or at least til fed speak before I can determine whether we're in wave 2 up or wave 3 up.

[Trend-Signals]

Will see, but I have accurately called market turns since Aug 2004 with almost 100% accuracy, but I always rely on the market signals. My market wisdom ball is telling me... and I listen.

[dcengr]

Will see, but I have accurately called market turns since Aug 2004 with almost 100% accuracy, but I always rely on the market signals.

My market wisdom ball is telling me... and I listen.

So in your 100% accuracy record, are you saying that the low is in, or you can change your mind if the market goes against your call, which is why you have 100% accuracy?

[Trend-Signals]

Will see, but I have accurately called market turns since Aug 2004 with almost 100% accuracy, but I always rely on the market signals.

My market wisdom ball is telling me... and I listen.

So in your 100% accuracy record, are you saying that the low is in, or you can change your mind if the market goes against your call, which is why you have 100% accuracy?

This is a total waste of my time and anyone else'.

Now, you can ignore my market comments from now on. I have called market signals accordingly and you can follow your own market thoughts.

Obviously you have no respect so you can stop fooling around with unnecessary posts.

If you can recognize it, it is your lack of market sensitivity.

There are no good losers....

Markets do and listen to markets action!

[Trend-Signals]

As I commented that the reversal bottom was in on 8/16, review my market comments 8/15 and 8/16, and now until market proves otherwise, the bottom is in. Of course, when market signals otherwise, follow market signals. When market signals differently, sticking with one's bias causes trouble. Unless, market signals otherwise, we are heading up above 1555. Market trading above 1555 is my market view as I commented during Jun-Jul 2006 bottom call and market has not negated it.

[dcengr]

As I commented that the reversal bottom was in on 8/16, review my market comments 8/15 and 8/16, and now until market proves otherwise, the bottom is in.

Of course, when market signals otherwise, follow market signals.

When market signals differently, sticking with one's bias causes trouble.

Unless, market signals otherwise, we are heading up above 1555.

Market trading above 1555 is my market view as I commented during Jun-Jul 2006 bottom call and market has not negated it.

Ok, then for your own track record purposes (of being 100% that is), IF the market goes below 8/16 low, then you would say you were wrong? Otherwise you've successfully called a bottom?

[Jnavin]

No such thing as an "impulsive" wave. The correct terminology is "impulse" wave. It may not seem like much of a difference, but it is.