SPX VST (hourly) remains in a bearish configuration, projecting SPX cash 1495-1500. However the SPX daily (ST) now is in a strong trending phase, which could mute the downside action. Bears need to nimble here or get clobbered.
It's the IT which is currently neutral, that holds the key to LT. If we break out to ATH on the SPX, the IT would turn bullish, which projects to some very bullish targets. More on that later, if and when it happens. I have learned not to change the wave counts based on my personal opinion. So until we breakout to ATH, i will remain with my wave X count that i presented on my blog a month back (although i have very little faith in that count based on the current market action).
VST, ST, IT, LT
Started by
NAV
, Sep 24 2007 01:30 AM
5 replies to this topic
#2
eminimee
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I don't care who's fur is flying...
Posted 24 September 2007 - 05:56 AM
#3
ogm
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Posted 24 September 2007 - 06:05 AM
Very bullish looking pattern on $NATV:$NATY chart.
If you connect last 3 mini toips and last 2 minibottoms. Pre-breakout.
If you connect last 3 mini toips and last 2 minibottoms. Pre-breakout.
Edited by ogm, 24 September 2007 - 06:02 AM.
#4
eminimee
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I don't care who's fur is flying...
Posted 24 September 2007 - 06:27 AM
OGM.. I wish you would stop taking the other side of everything I post. You have your opinion and I have mine....stop screwing with original charts of mine that you are not even familiar with. Please.
#5
ogm
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Posted 24 September 2007 - 06:47 AM
OGM.. I wish you would stop taking the other side of everything I post. You have your opinion and I have mine....stop screwing with original charts of mine that you are not even familiar with. Please.
Nothing to do with you or taking the other side of what you do.
Just pointing out the patterns I see. But if you're so sensitive about it I'll stop.
Edited by ogm, 24 September 2007 - 06:52 AM.
#6
eminimee
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I don't care who's fur is flying...
Posted 24 September 2007 - 06:54 AM
The point is....by marking up my chart you are giving your opinion on MY work, an original chart that you probably have never seen before.........we are both LT bullish....only I trade ST and you don't. Don't confuse the matter for others. I believe there is at least a possible 30/50 point move to the downside coming before we make new (all time) highs. I feel this board works best if people just stated their own opinion and let others do the same....whether it's right or wrong....let time take care of that.
