6 replies to this topic

[eminimee]

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

[bobalou]

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.

[eminimee]

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.

[NAV]

TP, My work says we are going lower in the VST.

[eminimee]

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

[skunk]

TP,

My work says we are going lower in the VST.

So are you going to fade this up gap?

[NAV]

TP,

My work says we are going lower in the VST.

So are you going to fade this up gap?

Already did