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looks like a complete 5wave down at the hourly. Target 1075 hit, watch for retrace up...

S&P hour, RSI Negative Reversal target = 1075

thx ed... nice trade! I was too lazy to search :D

s&p future hour go get 'm ed!!

Indicators start to point up in the hourly... Might be the beginning of wave 2. If you're brave enough, go catch it, just place a very tight stoploss. 2nd waves can go sideways!!! A question for all EW lovers: Do you use a specific method to place stops? ps. i'm not brave enough to trade...

Mark, i know it looks like fortune telling and i do agree that graphs are based on information from the past. Self fulfilling prophecy or not...profit = profit :) I'm sceptic about every indicator/method, thats why i'm NOT using any of them standalone! Now a chart(not realtime :mad: )for...

Nice long term chart! That's definitely one to keep in mind. We're in C of 4... Just a healthy correction going on. Not the end of the world :p

Almost at the top of the channel... Reversed head & shoulders nearly hitting its projection... RSI projection near 1102... Near perfect ABC... Low VIX... Indicators ready for some correction... Cash = King I'm sidelining until the market clearly breaks or fails the top of the channel...

That's why i don't use EW standalone... because it could be a motive wave indeed. The other indicators tell me that it's almost time for a correction/sideway move. If it goes sideways or retraces lets say 38.2% of the March up-trend and the indicators start showing some strength again then...

Just don't use wave counting as your only technical tool. If you use it to confirm all the other indicators and fundamentals then it can be really useful... And when the market breaks your theory, get out and analyze again. The market is allways right and with a stoploss it's no big deal to...

S&P500 Weekly chart. Looking for the end of wave (4) and a truncated (5). "Truncation often occurs following a particularly strong third wave" (4)C5 should go at least to the top of the channel @ 1100 :cool:

Nice ABC as (3)2 and a fine start of (3)3.

dont like the gap, don't like the RSI. subwave 2 sideways until indicators cool down?

Lets see how far it goes! Long and a stoploss in place, wont be able to trade today :mad:

Dont have any realtime graphs for those... But the AEX is a "slave" market, allways following the S&P and DAX, so i'm guessing we will see the same patterns :D And when all the graphs show the same info, that can only mean a right count :cool:

ABC forms Wave 4 in the daily. Im still looking for a final 5-wave up. subwave 1 finished, now a correction down to make 2(looks like an abc forming) and then subwave 3 up....etc RSI needs to cool down a bit before subwave 3

Those Q3 reports better be good... we need a 5th wave up :D Indicators show strength.

Dont like the looks of wave 3... "can't be the smallest" so that won't leave much room up. I'm not taking any positions since i trade the AEX which allready made a perfect zigzag...

Hi, My first post here :cool: Consider the movement from March as a ZigZag. To make C identical to A and C)5 to C)1, the market should move up in one big squeeze... In Amsterdam the AEX allready has A = C, but the German DAX looks a lot like the S&P. :confused: Time will tell...