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Wave Count

06/10/2012 Comments are welcome!

06/06/2012 SP update -

It's so true that "At the point of the knife You never see anyone". http://en.wikipedia.org/wiki/Strange_Advance :)

06/03/2012 Comments are welcome! (More on my blog)

(More on my blog) We have expected this, and it did happen today - the market gapped down with a big hole and closed at day low as a solid black candlestick - very bearish! No more need to be said, and I knew that you would be glad to be in our loop. Even though we miss out the big moves of...

(More on my blog) The market set the new low of this week today, closed as a long legged doji (long pin) after volatile washes on both sides. As we know that last week's low was a very critical point in TA perspective (50% and long term up trend channel), it was hard to get it penetrated in...

ScalperJoe - I am rushing to head out now. The market is weakening again today and is very bearish. Could you please take a look My Trade section, for I explained today's market behavior there. Thanks. Will talk to you later.

(More on my blog)

(More on my blog.) The market took over last Friday's reversal bar which indicated a strongly bearish view was no longer valid. The market is moving higher to find the lower high (of previous high on 05/01/2012) this week. Since we have had a lower low (05/21/2012), we are waiting for the...

05/27/2012 Comments are welcome!

(For more of my analyses and articles, please visit my blog. Thanks.) The up thrust in futures market overnight penetrated Tuesday's high, and hence my short term short position on index futures got kicked out with big win. The high in regular hours did not even touch Tuesday high. I did...

From my blog: The market moved as expected today. Our audience got plenty of time to unload and go short in the morning. The market panicked down in the afternoon and set new day low. If the current preferred wave count is correct, wave 3._4 has ended today, which means that the rest of...

I started studying R.P.'s publications since about the same time. After few years of reading, I found that his wave counts had lots of problems, so I threw them to trash can. I think that R.P. has a lot of contribution to modern EW, but he cannot break through some bottleneck.

Interesting!

Yes, I agree with you! We are at the point where 50% fib retracement meets horizontal support area and up channel line. If this area is breached, it means a free fall.

:)

ScalperJoe - It could be that case because the market stopped right above the 50% fib retracement. If that 50% area holds, we don't rule out the possibility of the wave [IV] scenario, which means that the market would come back to test 1400 area for a wave [V].

ScalperJoe - The price action these days has shown that the market was very weak (and could be continue doing so before some reversal force occurs). It is the Newton's First Law of Motion that can easily explain the market's behavior: "Every object in a state of uniform motion tends to...

05/20/2012 Comments are welcome!