Okay...time frame is important ....I agree then....when I say "top" ....it's a top of a wave 1 of a big ED....I think we get at least 1475 for bottom of 2.
PS..that's if I haven't mentioned it before..lol
Tea,
What do you mean by ED wave---primary cycle?
This may help explain
http://www.traders-t...?...ic=76501=
Okay...time frame is important ....I agree then....when I say "top" ....it's a top of a wave 1 of a big ED....I think we get at least 1475 for bottom of 2.
PS..that's if I haven't mentioned it before..lol
1475 is possible. That's something i call a ST move. But for such a move to happen, we need to build divergences on the daily momentum oscilaltors, and there is none at this point. At a minimum we need to make higher highs on SPX with a negative divergence for that kind of a move to happen. Barring that any VST reaction will be bought aggresively by the techinical traders IMO.
Nav...I've got enough divergence on the hourly to satisfy my suspicions fwiw
http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=6&dy=3&i=p71697390409&a=81733615&r=5011.png