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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Thursday, 21 February 2013

An EW view from Golden Nugget,posted on Danerics

 There is a possibility this finds support above 1467spx ( a wave 4 low) and it prints a wave 5 higher. Many that I know believe this is the case. But I would give it maybe 25% chance. There is also a chance it pulls back in a "b" wave and makes one more run higher. But, #1, based on the parellel chanel lines containing a near perfect abcde pattern from 1074 "X" wave, #2 Based on my expectation for a flat top near 1550, and based on the fact that every wave 4 of C during the last 3 years had shallow wave 4's, I would have to put at least a 50% chance we just saw the top of an "X" wave or "b" wave. Or, God forbid, a die tri 5th wave. If I had to guess which it was, I would say it is an "X" wave. This means we will get another abc ( or abcde) type pattern back down, much like the correction down from 2000 to 2009. If this leg is a "B" wave, we would get a sharp "C" wave down similar to the leg down from 2007 to 2009. If this leg ends a die tri...start hoarding food, water, and ammo...the wave 2 down has no limits. It could go all the way back to the prices during the depression. The die tri is not a good fit however, but it is a viable pattern label. My "guess" based on the odds is that we just saw the end of an "X" wave, ( with a small chance of one more leg higher at some point). If that is what happened, expect a large correction down from this point.

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