9 replies to this topic

[NAV]

My swing system remains on a sell. But my hourly model is on a countertrend buy. So no change. But my gut says we have put in a swing low. But, that's just my gut. My system is yet to confirm my gut. Good trading all.

[sjj]

Hope so - added to retirement longs end of day.

[dcengr]

Everyone's so focused on SPX 1490 that I wonder what would happen if that was busted... Say SPX 1470ish.. would that cause a severe reaction or would it just bounce off? Inquiring minds want to know.

[Echo]

Everyone's so focused on SPX 1490 that I wonder what would happen if that was busted...

Say SPX 1470ish.. would that cause a severe reaction or would it just bounce off? Inquiring minds want to know.

1480 is NAV's IT pivot point.

1476 is Hiker's old line of interest and also 200 ema

1473.34 is 50% retrace of Aug lows to Oct highs.

Echo

[NAV]

Everyone's so focused on SPX 1490 that I wonder what would happen if that was busted...

Say SPX 1470ish.. would that cause a severe reaction or would it just bounce off? Inquiring minds want to know.

SPX 1490 is not important in my work. But if 1480 cracks, it would tell me that the IT has turned down and i will start looking to short the bounces. Until then, i will keep buying the dips and restrict shorting to daytrades only.

[eminimee]

1466 is C=A I think BKX has put in a bottom or very close to it... so a swing low being in is very possible...maybe even a much more important low. I would love to see spx at least come down below 1480 so I can get rid of one of my counts. ...I would prefer price to hit my little target box on this chart. If we could do that and HOLD 1450 at WORST while bkx and xbd base....it would set up the best buying op since Aug. I'm hoping the fear mongering continues.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=11&dy=13&i=p55271525339&a=79053340&r=6353.png

Edited by Teaparty, 06 November 2007 - 05:16 AM.

[NAV]

1466 is C=A

That would be bearish in my work. The first swing from the Aug bottom ended on 8/24. From a e-wave perspective i would not like to see a overlap with that leg, which should not occur in strong uptrends, definitely not if it's a major impulse. E-waves besides, i have some other studies which makes it desirable for the SPX 1480 to hold, if a major IT uptrend is in progress.

[skunk]

1466 is C=A

That's what I've been looking for.

ES has visited the 1495 area 4 times. I expected it to get through that price yesterday. It could happen but it needs to do it soon. I'm looking for 1470 on the ES.

[Iblayz]

Posted this Sunday night elsewhere...

So we are either in a C down or are completing the third and final leg of a corrective 4th. The target for this fourth would normally be 1466.67 but that can't happen. If the cash index prints below 1479.40 the five waves up idea dies and the C down lives.

[eminimee]

Posted this Sunday night elsewhere...

So we are either in a C down or are completing the third and final leg of a corrective 4th. The target for this fourth would normally be 1466.67 but that can't happen. If the cash index prints below 1479.40 the five waves up idea dies and the C down lives.

Exactly...and that's why I want to get rid of one of the counts...the 4th wave idea....