Targets
Started by
eminimee
, Sep 21 2007 05:57 AM
6 replies to this topic
#1
Posted 21 September 2007 - 05:57 AM
Short term we may still need a slight new high above Wed. high. Then could correct either with a C wave of a tri or a wave 2 of an ED. 1420 area has to hold for the tri and would like to see 1460 area hold for the wave 2 of the ED..but may not get that deep... 1475 may hold.
Eventual target for both patterns is 1610 or 747 oex. Then I expect another correction down to the Aug lows with a larger degree wave 4....HOWEVER....anytime oex 747 is taken out north....next target is most likely the all time highs near 840 putting spx near 1780. I expect to see vix trade between 20 and 30 for the foreseeable future.
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=1&mn=2&dy=3&i=p68248364457&a=104586413&r=1442.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=M&yr=9&mn=5&dy=0&i=p04123720214&a=99552000&r=4221.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=8&mn=0&dy=0&i=p98598037990&a=99807757&r=576.png
Eventual target for both patterns is 1610 or 747 oex. Then I expect another correction down to the Aug lows with a larger degree wave 4....HOWEVER....anytime oex 747 is taken out north....next target is most likely the all time highs near 840 putting spx near 1780. I expect to see vix trade between 20 and 30 for the foreseeable future.
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=1&mn=2&dy=3&i=p68248364457&a=104586413&r=1442.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=M&yr=9&mn=5&dy=0&i=p04123720214&a=99552000&r=4221.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=8&mn=0&dy=0&i=p98598037990&a=99807757&r=576.png
#2
Posted 21 September 2007 - 06:26 AM
my bs, some thing to think about..the U S is on sale.the $ at lows.
up ='s down , after options week,in time the vix should work it's way down.to 16 ?
and w/ the rate cut we could be in this high trading range for 9 weeks.
hope this is a help.
#3
Posted 21 September 2007 - 06:36 AM
Two things to distinguish between the tri and ED...if we make just a slight new high above Wed. high both patterns are alive. If we make a new all time high and stop at 1566ish....that would be the top of wave 1 of an ED and the tri is toast.
#4
Posted 21 September 2007 - 07:03 AM
TP,
My work says we are going lower in the VST.
#5
Posted 21 September 2007 - 07:30 AM
Nav...Quad witching we could do anything....short term this is what I see EW wise.
http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=21&i=p83504482569&a=109883924&r=7965.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=21&i=p83504482569&a=109883924&r=7965.png
#6
Posted 21 September 2007 - 07:44 AM
TP,
My work says we are going lower in the VST.
So are you going to fade this up gap?
#7
Posted 21 September 2007 - 07:58 AM
TP,
My work says we are going lower in the VST.
So are you going to fade this up gap?
Already did