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There is no system that is 100% proof to give you profit on every trade. Elliot Wave is a roadmap (subjective) that helps a trader to identify a market turn or a reversal (could be a high or a low). I took a loss this morning on my short position and will try hard to get it back on the next...

Going fully short tomorrow at a specific SPX target and will close position few days later. Trade safe and all the best!!!

I had yesterday 4/15/13 as a low and the next entry timing signal is 4/17/13. If it is a high, then I will go short until Friday close. If it is a low, I will go long until Friday close. Trade safe and all the best!!!!

I will be going 50% short position near the close. Stops will be set to SPX 1595 and will hold position until Friday. Trade safe and all the best!!!!

All short positions have benn closed from SPX 1569+/- 1point and no long positions have been taken. Will post when and at what level positions will be entered. I'm still very bearish on the market and the low will not take place until few days or weeks from now. Following Elliot Wave structure...

Closed 50% short yesterday and 25% this mnorning. Still 25% short and will exit either today or next week. Trade safe and all the best!!!!

Still fully short from SPX 1569+/- 1 point. Moved stops to SPX 1562 on a closing basis. All the best.

The market might make a run to SPX 1578-1582 on Monday as it did not fulfill that target on Thursday. I'm fully short and will close all positions if the market closes above SPX 1576.

$SPY Closed all long positions today and positioned to fully short for the next few weeks according to proprietary timing signal. Stops are set at SPX 1576 just in case.

$SPY Closed all long positions today and positioned to fully short for the next few weeks according to proprietary timing signal. Stops are set at SPX 1576 just in case. Timing is the most crucial aspect of trading and more important than price.

My timing strongly indicates that this week will mark a short term top for a while. The drop would be at least 70 to 100 SPX points. The action this past week strongly suggests distribution at the top.

I could not agree with you more. My timing strongly indicates that this week will mark a short term top for a while. The drop would be at least 70 to 100 SPX points. The action this past week strongly suggests distribution at the top.

Here is this week update on my blog http://financialtrader.wetpaint.com/ Rgds, Freddy

I agree with Mup Target. Here what I wrote on my blog about a week and a half ago. 10/9/08: Technical analysis did indicate to me about a year ago about visiting the 2002 lows once again and even lower. The move down from 2000-2002 was larger degree wave A, followed by larger degree wave B...

If we break SPX 938-940 than I'm with your count. If not, we may rally into a larger degree wave B before we complete wave C to 2002 low and lower by 2011. That's way into the future... Thanks Mup.

Mup, Now your target will match mine. We should see that early morning. SPX 923-940 is my wave C target which is wave A *1.618 ((1576-1257)*1.618=924) Rgds, :p

Hi, I have been looking for a low this week for sometimes now and have not been able to post on this site. Here is my journal link and I hope that you are all doing fine and making lots of money. http://financialtrader.wetpaint.com/ rgds,

Mup, Something is very interesting about SPX 1262.5 resistance point. The market has failed 3 times to penetrate it with no success. Trying to figure out the validity of that number has been my priority since yesterday. I could only find that it represent 78.6% retracement of the drop from...

I have been lurking for sometimes now and I joined after seeing the overall high quality of this thread and the fact that it matches what I do in TA terms.

That is a very interesting way to look at Fib series high and low. It never crossed my mind even though I have used Fib for many years. However, for the 13 high indicated on your chart, I counted more than 13 (actually 15 days). Is this an approximation and how often does it work??? Your input...