bull market has resumed

[gharghur2]

Quote from Amnesiac:

will be interesting, when we break the shoulder line..

Amnesiac...cool name!

You mean if we break the shoulder line, right?
I agree...if that line breaks the game has definitely changed.

 

[Amnesiac]

Quote from gharghur2:

Amnesiac...cool name!

You mean if we break the shoulder line, right?
I agree...if that line breaks the game has definitely changed.

yes, I meant if.. sometimes I mix those up, I'm not a native english speaker..

 

[lynx2004]

negative divergence indicating losing momentum which has kept me cautious over that past couple of months.

also i had a target of 1164 for sp500 index when it broke the triangle on oct 4th (it came close but never hit) and that line will now act as resistance @ around 1211 (cash).

<img src=http://www.elitetrader.com/vb/attachment.php?s=&action=&postid=874063>

 

[gharghur2]

Quote from lynx2004:

negative divergence indicating losing momentum which has kept me cautious over that past couple of months.

also i had a target of 1164 for sp500 index when it broke the triangle on oct 4th (it came close but never hit) and that line will now act as resistance @ around 1211 (cash).

<img src=http://www.elitetrader.com/vb/attachment.php?s=&action=&postid=874063>

Yes, that negative divergence has been a thorn in the side of this bull. There was also an acceleration gap at 2112 (3 of 5), and it has acted as a pivot for two of the previous three downdrafts. You're right on it!

 

[gharghur2]

Lynx...

SPX 1191 has contained both advances this week.

SPX 1184 is critical! If it doesn't hold here .......

 

[lynx2004]

Quote from gharghur2:

Lynx...

SPX 1191 has contained both advances this week.

SPX 1184 is critical! If it doesn't hold here .......

so far last thursday's low has not been broken and it managed to have higher lows amid all this volatility and two re-tests. seems it will close about 9-10 points higher than thurs' intraday low. so i think it's still ok for a short-term bounce. Are we in October?

 

[nitro]

Quote from gharghur2:

Lynx...

SPX 1191 has contained both advances this week.

SPX 1184 is critical! If it doesn't hold here .......

Man,

Your waves are about to pull their hair out of their heads anytime soon. No amount of wave counting will help you in this market.

nitro

 

[EqtTrdr]

Quote from nitro:

Man,

Your waves are about to pull their hair out of their heads anytime soon. No amount of wave counting will help you in this market.

nitro

10000% agreed..

EWT is bogus hocus pocus in this market..

no way you can get decent count...

 

[gharghur2]

Quote from nitro:

Man,

Your waves are about to pull their hair out of their heads anytime soon. No amount of wave counting will help you in this market.

nitro

Nitro,

It's pattern recognition, not arithmetic
I see another pattern unfolding ... this market sure is a tough one

tony

 

[MacroEvent]

screw the waves --- watch the liquidity!

the bottom is under attack! there is still tension building for additional downside movement --- the big boys here have one eye on the exits and the other on price.