For ewavers really.......OEX is leading SPX so that's what I'm watching.
C=A target is at 717.94, slightly above last wed. high and could finish the 5th. Finishing wave 1 or a B wave is the question and we'll have to wait for that answer. Since I still believe in us finishing a C wave of an expanded flat at the bottom....I have to lean wave 1 of an ED at this point. A double top here is quite possible too since we are so close. FWIW I have a DT line off the top on ES coming in at 1548 today.
http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=6&dy=3&i=p71697390409&a=81733615&r=3793.png
If it's going to be.....
Started by
eminimee
, Sep 27 2007 05:48 AM
4 replies to this topic
#1
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 27 September 2007 - 05:48 AM
#2
VolPivots
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- Chartist
- 3,203 posts
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Posted 27 September 2007 - 06:25 AM
watch the US peso......
#3
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 27 September 2007 - 06:48 AM
Don't like doing that.....I find that there are short bursts of correlation...but does more harm than good to a traders head.
#4
NAV
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- Traders-Talk User
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Posted 27 September 2007 - 07:14 AM
Don't like doing that.....I find that there are short bursts of correlation...but does more harm than good to a traders head.
Let's say there's 100% correlation. So what ? That assumes you can gauge the stock market direction based on dollar action. That presumes you know where dollar is going. If you are that smart determining the dollar direction, then why not just trade the dollar ?
Edited by NAV, 27 September 2007 - 07:21 AM.
#5
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 27 September 2007 - 07:38 AM
Don't like doing that.....I find that there are short bursts of correlation...but does more harm than good to a traders head.
Let's say there's 100% correlation. So what ? That assumes you can gauge the stock market direction based on dollar action. That presumes you know where dollar is going. If you are that smart determining the dollar direction, then why not just trade the dollar ?
Right...that's basically what I was saying.
