I've never posted here before, but have been checking in on your blog for a little while now. I just wanted to add, that I think SPX is busting down from the 4th and working on the 5th right now.
I am hoping that the first low today (which we now have gone past) will turn out to be the bottom of a wave 1. If that's correct, then the move down that is underway now would be a 3rd wave. We'll see though. I don't yet trust this market to make a sustained move down! It's certainly possible that the first move down was a wave A and we are now in wave C, just another corrective sequence to be followed be an even higher high!
pima What is the resolution of your earlier concerns about the DX? I don't know much about EW, but it looks to me like a 3 up has begun. (don't know the EW scale notation of it, sorry)
yes, I do. Very small first wave right after the high, 3rd wave is largest, but 5th wave had steepest slope
ReplyDeleteI've never posted here before, but have been checking in on your blog for a little while now. I just wanted to add, that I think SPX is busting down from the 4th and working on the 5th right now.
ReplyDeleteI am hoping that the first low today (which we now have gone past) will turn out to be the bottom of a wave 1. If that's correct, then the move down that is underway now would be a 3rd wave. We'll see though. I don't yet trust this market to make a sustained move down! It's certainly possible that the first move down was a wave A and we are now in wave C, just another corrective sequence to be followed be an even higher high!
ReplyDeletepima
ReplyDeleteWhat is the resolution of your earlier concerns about the DX? I don't know much about EW, but it looks to me like a 3 up has begun. (don't know the EW scale notation of it, sorry)
Also, from an open gap standpoint, the $COMPX has only downside gaps open.
ReplyDelete