This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Alternative to US$ doom scenario is 83.094 (or 3.5% increase) by beginning of 2nd week in December or maybe Christmas using elliott, fibonacci and gann methods.
Hi CR, Tried to post chart here under google account and was time consuming and so far has not appeared on the site. Eventually got message awaiting approval. Is there a simple method of posting here under Google? Thanks:-)
Hi JD.I have to do the message approval thing to block out the idiots like Wagner posting spam.I can give you direct access if you like,let me try and sort that out
Thanks, Fully understand. More work for you created by that troublemaker. Just noticed typo in the $US chart which needs to read 'C = 1.618 A' rather than what I wrote there. Also noticed comments on the Wolfe Wave and was glad Richard brought that to my attention. Have applied it to the SPX and noticed you end up with a wolfe wave down from the broken wedge that terminates right near 1228 which is the 0.618 retrace of the wave down to March 2009 (GFC wave). So good relationshup with fibonacci support levels. BTW do not think the SPX wedge is a true elliott wave ending diagonal as the subwave A of 3 looks more like a zigzag (3 waves) and not an impulse/diagonal (5 waves). The A of 3 wave in the SPX chart would need to be a 5 wave structure to be a true EW ending diagonal. Pedantic I know but thats what I think. So the EW labelling on the chart is if my interpretation of the A of 3 wave is incorrect but not really how I see the SPX unfolding. I don't think it is an issue for the Wolfe Wave as these wedges seem to be related to symmetry and not wave structure so the wolfe methodology can operate independently of strict EW definition of a wedge/ending diagonal. I see the wolfe wave as minor 1 down of a 5 wave impulse which is a C of A wave at cycle degree of a very large expanded flat structure unfolding at supercycle degree on the SPX. Will post this expanded flat when I update the chart but here is the Wolfe Wave with EW count as the wedge which I don't think is really operating here but is there in case my interpretation of the A of 3 as a 3 wave structure is incorrect and it is in fact a 5 wave structure (but I doubt this).
http://twitpic.com/bg6ktq/full
Good to have this site available as Danerics has been getting way too unbalanced in its commentary for my liking. Enjoy your weekend.
Thanks JD.Been a bit busy this weekend so not had much time to look at charts.I am surprised how strong we were last Friday given the clear breakdowns we saw especially on the Dax and Ftse but thin markets and,I guess shorts forced to cover.Well done on the rugby last weekend (it pains me to say it :) Looks like the English boys have a lot of work to do.Kiwis on Saturday ,yikes
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Have you thought on a possible Broadening top at daily timeframe?
ReplyDeletewell the weekly chart is the key chart for me in that we broke down from a 9 week trading range and are currently retracing into that supply zone.
ReplyDeleteYou could put a Wolfe Wave count on this to end up down to about 7175
ReplyDeleteAlternative to US$ doom scenario is 83.094 (or 3.5% increase) by beginning of 2nd week in December or maybe Christmas using elliott, fibonacci and gann methods.
ReplyDeletehttp://twitpic.com/bfxp3u/full
Hi CR, Tried to post chart here under google account and was time consuming and so far has not appeared on the site. Eventually got message awaiting approval. Is there a simple method of posting here under Google? Thanks:-)
ReplyDeleteHi JD.I have to do the message approval thing to block out the idiots like Wagner posting spam.I can give you direct access if you like,let me try and sort that out
ReplyDeleteThanks, Fully understand. More work for you created by that troublemaker.
ReplyDeleteJust noticed typo in the $US chart which needs to read 'C = 1.618 A' rather than what I wrote there.
Also noticed comments on the Wolfe Wave and was glad Richard brought that to my attention. Have applied it to the SPX and noticed you end up with a wolfe wave down from the broken wedge that terminates right near 1228 which is the 0.618 retrace of the wave down to March 2009 (GFC wave). So good relationshup with fibonacci support levels.
BTW do not think the SPX wedge is a true elliott wave ending diagonal as the subwave A of 3 looks more like a zigzag (3 waves) and not an impulse/diagonal (5 waves). The A of 3 wave in the SPX chart would need to be a 5 wave structure to be a true EW ending diagonal. Pedantic I know but thats what I think. So the EW labelling on the chart is if my interpretation of the A of 3 wave is incorrect but not really how I see the SPX unfolding. I don't think it is an issue for the Wolfe Wave as these wedges seem to be related to symmetry and not wave structure so the wolfe methodology can operate independently of strict EW definition of a wedge/ending diagonal. I see the wolfe wave as minor 1 down of a 5 wave impulse which is a C of A wave at cycle degree of a very large expanded flat structure unfolding at supercycle degree on the SPX. Will post this expanded flat when I update the chart but here is the Wolfe Wave with EW count as the wedge which I don't think is really operating here but is there in case my interpretation of the A of 3 as a 3 wave structure is incorrect and it is in fact a 5 wave structure (but I doubt this).
http://twitpic.com/bg6ktq/full
Good to have this site available as Danerics has been getting way too unbalanced in its commentary for my liking. Enjoy your weekend.
Thanks JD.Been a bit busy this weekend so not had much time to look at charts.I am surprised how strong we were last Friday given the clear breakdowns we saw especially on the Dax and Ftse but thin markets and,I guess shorts forced to cover.Well done on the rugby last weekend (it pains me to say it :) Looks like the English boys have a lot of work to do.Kiwis on Saturday ,yikes
ReplyDelete