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Could be a bear trap instead? :)

Could hit 950 on the SPX..... We're in a "time-wasting" diagonal "B" wave now... See chart below --> SPX 5min

Not looking so clean now.....:(

Flat? SPY 10min.... possible about 94.1...

Could also be a chance for those who missed the boat to start shorting? :D

The 1 min SPY chart seems to be forming a 3-3 correction pattern.... may be a flat or triangle?

Mu, Mup, Elo and Landis, Thank you so much. I learnt so much today! :D

Thanks Elo for the alt!

Hmmm..... watching closely...... :) By the way, I recently noticed there seems to be "missing posts" during market hours that mysteriously appear after hours. Tried refreshing many times but still happened. Any of you encountered this? Edit: Can't track this.... charts haywire again!!!:mad:

Nuts!? No..... That would be very nice!!! :D:D:D

No upwards rebound at the close yesterday, so we could be seeing a upmove at the open today. :) In the SPY 10min, around 97.9 could be the first resistance. If it breaks above, next resistance could be about 98.6 before resuming its downmove.......:) Apparently, Mr Market wasn't too...

Well Elo, that ED could have been a "B" wave.....:confused: 5 full waves should be completing in the SPX 10min..... A rebound into the close would setup great for a gap down open tomorrow!:)

Excellent call Elo!:)

While the channel have been broken, what I don't feel comfortable is the lack of "drive" and volume to follow through this downward move... feels very weak to me.... :confused:

Thanks Mu & Elo for the updates.... I think the trend could have changed downwards for now.... I like that wolfe stuff.... it's interesting :)

It still appears a little cloudy to me whether the next move is up or down, so I took a step back and looked at the SPX weekly chart... The best fit to me seems like we're in a 4 right now. If this is going to be a flat correction, then Oct 28th would only be the start of the "A" wave of the...

Take a look at the CBOE VIX Volatility Index..... The weekly index seems to be forming a 1-2-3-4 right now.... So this "4th wave" drop in the VIX corresponds with a 4th or "C" wave corrective upward push which we have been seeing in the SPX since about Oct 28th. If the VIX re-visits its...

Could also be a combined correction of a Flat then a Triangle......:)

..or we could be in a 4th wave triangle now....:confused: SPX 10min If we are, then we need to be prepared for a potential upward burst before a collapse.... Let's see how it unfolds.....

I must stop jaywalking........:D