Search results

Hi Eric, We do post longer term outlooks once a while so you'll have to scroll a little back to some of the older posts if you have not been following this thread. :) Below's my view posted on Jan 15th...

The downmove is extending too long to be an ED. Will have to re-label the earlier counts as a series of 1s and 2s.... Will be sitting on the sidelines until my charts clear up....

Just to add one more chart the SPX 15min for the ED scenario... Note that with ED, if it is an ED, it is common to count to fast or too slow.... SPX 15min

Mu, That 61.8% retracement should be about 818.77. It is common to see a bounce at 61.8% and I am thinking it is beginning to look like an ED on the SPX..... :D

824.34 busted Let's see how this "B" wave morphs.... :)

We seem to be stuck in a range. Could be part of B wave if today's low of 824.34 in the SPX holds. I'm seeing a 1:1 in the B wave where 27.47=27.75. A larger 1:1 where A=C could bring us up to 865.43. Watch closely if 824.34 holds... :) SPX 60min

Mu, You sure have fast fingers! :eek: Yep, today's SPX low at 830.78 is crucial. Below that, I would not be able to think of any bullish scenarios. So once it gives, it's more likely to be the start of (5) down. Keep in mind about expiration today. It can get kind of wild...:D

832.68 in the SPX has to hold to give the bulls a chance. Else it's time to bid irene goodnite :) Note today's expiration day, so anything can happen in the afternoon.

Welcome back Mup! Your ALTs helped us stay on the right side of the market and nailed this 12.30pm EST upward turn. Thanks! :) Yes, the running triangle was one of my possible counts but I thought whether it was a wave (4) flat or start of (5) down or triangle, the direction was still...

Well done Mu! :D And I like the look of your new chart. Edit: First checkpoint will be around the SPX 840's region. :)

An ED would be very nice to complete all the downmove.... :)

And after that "Fly me to the moon"? :D http://www.youtube.com/watch?v=1rAsoLm1Ges&feature=PlayList&p=ADF63607EDE84213&playnext=1&index=31

SPX has to move above 827.55 to put the odds in favor of the upside.... else one more leg down, and it could be the very last leg if there is no extensions :) Edit: Above SPX 837.22 would favor the upside greatly :)

Sure was nice to have Mup's ALTs keep us on the right side of the market isn't it? We could still be in Wave 3 down, or it could also be wave 5 down. Whichever the case, a rebound should not be too long away... :D I wonder where is Mup now :) SPX 30min

SPX 851.39 as next resistance or some more downside move. :)

Well, 848.73 has not been breached so far :) Here's a possible curveball since wave 1 and wave 3 are approximately the same length, there's a chance wave 5 may extend. :) SPX 120min

Odds will tilt in favor of the upside if the SPX can clear the first hurdle at 848.73. Else, as Mup would say "Goodnight Irene....." :D

Here's a SPX weekly to better illustrate my point about the "B" wave down. SPX Weekly :) Edit: Thanks Landis. Hmmm.... Jan 20th rings a bell about Mr Obama's inauguration right? Good time for the market turn up indeed! Let's see what happens :)

Yep, the a-b-c was completed indeed. If my labeling is correct, then the 5 waves down since Jan 6th could mean: (1) start of wave 1 of (5) down (2) start of B wave down (still part of wave (4) correction) We must watch the ALTs carefully. SPX 60min :)

874.85 has been exceeded. So now onto (2). If (2) is exceeded, then a degree change. All according to Mupster's dictionary :D