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Dow futs at 17940 and it will be very interesting to see rth action.
Once again my small short is just a foot in the door incase we do
drop out of nowhereNever give up, never surrender.
I see you’re keeping the place active Chris. What happened to everyone?
Hi Hatman, long time no see. A few are still here but most fell by the wayside unfortunately.
I’m watching for a potentially very important top in SPX in the 2116/2151 area. I think this is a 5th wave top. Might be a triple top pattern. If it hasn’t topped already, I think it will in the next ten days leading up to the Bradley July 19th or so. I’d like to see a marginal new high.
For $/EUR I see two possibilities: either a 4th wave (of 3) triangle that will break downwards to 93
OR a B wave that will break upwards to the $1.26 area.
50/50 chance of either, but if my SPX top call is right, the unexpected $/EUR $1.26 will become a real possibility.
A 5th wave top would suit me even if it goes against my short door stop.
The 5th could truncate and leave many waiting at the up line station.
My plan for July is more thinking and less trading whilst these chart
options play out.Never give up, never surrender.
Chart will follow in the next day or two. There’s already a double top in the 2116/30 area, and I agree that it might truncate OR pop up above just enough to force short covering. The ‘perfect’ target number is 2151, but anything at 2116 or above is in the target zone.
I noticed there is a geocentric Bradley date on 11th July
which I take to be several facets combined.Never give up, never surrender.
Looking at my notes for the Dow they indicate down today
and then up friday and monday.I will adjust stop when possible even if I give up my
short door stop in favour of something higher up.Never give up, never surrender.
Chart for SPX. Note that the first complex abc plus rising wedge makes wave A, followed by the current five wave advance for wave C. This is all part of a very large rising wedge that won’t end until 2030/2.
As a wedge is made up of threes, 2151/4 is where C=A for the first big three.
Cheers David
If we hit your target in the next 10 days what kind of drop
in price and time do you expect ?Never give up, never surrender.
Dow rth has matched the futs bullishness and if this
is a down day, I would hate to see and up !!!Lucky I wound the stops in as I was taken early.
Back to thinking and not trading.
Never give up, never surrender.
Dow now looking like the s4l with spill up, as expected,
save for the spill up was rather strong.Never give up, never surrender.
Only IF atm.
If today is s4l and there is no decent drop then
a bookends S1h ‘normal’ – S4h ‘normal’ would be
something to avoid shorting.Never give up, never surrender.
Here’s a very long term chart. Basically the 2000/8 correction was probably a wave 4, in which case the action from the 2008 low must be a 5th wave. That can be either a straight up five affair, OR, a rising wedge. We all know that rising wedges are a common phenomenon at the end of bull markets, so there’s a high probability that this is what we are in. My earlier chart counts nicely as a three wave rise, in which case it’s very likely wave ‘a’ of the wedge. If so the coming top in the 2116/2154 area might be significant.
If all this becomes true, the next move by SPX will be a retrace back down to overlap 1565. Unfortunately it might need three or four years to do so, and the price action might be slow.
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