W/B Saturday 6th June

NYA:  the NYSE Index is approaching or has already reached wave (iii) of iii (of C).  It might have a small 4th and 5th to go, but the peak on Friday was in the target region.

I’ve shown on the chart a possible roadmap for future price action.  The movements should be more difficult from here, with a reduction in momentum that will allow the RSI and MACD to decline to create divergence when we get the final pop 5th.

The C=A target is at 13,450, so that’s still about 5% higher than at present.

Note that the 4th waves shown can be triangles or flats with wider price action and longer time frames.

After we hit the C=A at 13,450 the market should decline to overlap wave ‘A’ at 11,650.  That’s a decline of about 13%.  Although I’ve shown it happening quite quickly on the chart, it can be extended and last three to six months.

Sailing was interesting but rather difficult and frightening.  First day we had classroom lessons in the morning, then <span lang=”ko”>선생님 (teacher) took us out in the afternoon to just sail around the marina to practice.  Small one/two man training boats.  Very difficult training in such small boats for a person my size (190cm, 6’3″).  Towards the end of the session I fell out of the boat, couldn’t get back in, so I had to swim across the marina back to the yacht club.</span>

On the second day we ventured out of the marina into deeper waters.  Luckily the wind was calm.  Spent the afternoon trying to tack (turn against the wind).  Very difficult in such a small boat.  Again I fell in the water and had to be rescued by <span lang=”ko”>선생님 in his powerboat.  As I floated in the deep water I had visions of jaws coming for his afternoon snack.  Luckily he was somewhere else that day…</span>

Well Merlin has been consistently wrong when he has predicted down. SO with him predicting up …..

I have completed the first two days of the course.  Complete course is eight days so I have six more days to go.  That then gives me a certificate to sail small dinghys.

To be able to sail larger boats I have to get my Deckhand Certificate issued by the NYA.  Unfortunately my local club isn’t authorised by the NYA so I’ll have to go to Palma Mallorca to take my Deckhand course which involves a week living and training on a medium size yacht.

If I want to Captain a boat I then have to take the Day Captain Certificate which is another week training and living on a larger ocean going yacht.

So it looks like I’ll have to spend some time in Mallorca.  Unfortunately the best training centers have closed for this year due to the virus, so perhaps next March might be the best time.

In the end I’ll be able to be Captain of an ocean going yacht, but it will take a while (and is expensive).

Love it hatman! I spent a weekend on a canal boat in leeds once! Lol..that was about the height of my ocean yacht skippering.😂

It looks like this market is still happy to go higher, despite the fake NFP’s.

I am fully expecting a gap fill today, which will come in at 3186.25.

The issue is as always how high first., Will we get a 2.30pm high or do I need to go in before?