Dow TOP call - 10yr top formation done

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From a non-elliott approach ...

(1) if 60-min dow close < 10,531, we have a defo corrective downwave on 60-min. Then if the 60-min July 20 low is also taken out decisively, we have a very stong likelihood of a reversal.

(2) simplicity itself ... the trendline shown below on Dow 60-min.




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deadbroke, so you think we could fall to roughly 10,300 in the dow before continuing to rise back up? is we break through the 10,300 level, where do you think we'll be?
 
Quote from proteinshake25:

deadbroke, so you think we could fall to roughly 10,300 in the dow before continuing to rise back up? is we break through the 10,300 level, where do you think we'll be?
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No.

6,500.

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Place your crosshair cursor on the Dow Jones monthly chart.

See that big cluster of support from 1999 to 2006?

Its axis is @ 10,580

lower reaches of said cluster @ 10,000 approx.

Therefore below 10,000 = start of freefall.


Next stop @ H&S neckline @ 6500
 
Quote from deadbroke:

From a non-elliott approach ...

(1) if 60-min dow close < 10,531, we have a defo corrective downwave on 60-min. Then if the 60-min July 20 low is also taken out decisively, we have a very stong likelihood of a reversal.

(2) simplicity itself ... the trendline shown below on Dow 60-min.




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The trendline is the simplest tool in existence, but at ET one would think its rocket science!!!!!!!!!!!! :D

Slamdunk!! :D :D





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Quote from deadbroke:

Here's the updated chart - before market open. As you can see, the market "c" and "5" confirm in my mind that the pattern is complete.

Yesterday's drop is wave 1 and rally is wave 2 as shown. A wave 3 down is next.

We'll know soon if this is right.

But THIS is 100% my stance!!!




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Take a good look at the pattern. And remember it was shown for days and days. I did get fooled by that little trendline break for the "b" wave, but fooled only for a day; made a quick comeback and presented analysis of the explanation - which NOW in hindsight was "perfect"

And it was called right down to the last mini-waves 1 and 2 at the extreme right of the chart. What's more is that it is indeed rare for an elliottician to call a wave 3 correctly. I've broken that stigma many times in my thus far short market experience (still a newbie) and broken it here with a resounding, YEAH!!!

That's precision.

The pattern is NOW TOTALLY COMPLETE regardless what occurs next





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So we now leave the 60-min timeframe and refocus on the THREAD CALL timeframe, namely the DAILY ...


Dow Jones SHORT continues unabated and unabashed
 
Quote from deadbroke:

DEATH CROSSES have occurred on the following .... in addition to the Dow Jones, S&P500 and Nasdaq. Notable exception is the Dow Transports.

Philadelphia Housing Sector (July 6)

S&P Homebuilder ETF: XHB (today)

S&P financials ETF: XLF (June 18)

US financial sector ETF:IYF (June 30)

Vix (May 19) ++++ Galactic Death Cross ( July 21)

As of yesterday's close, Vix is now above the 200-day, its Macd is curling up from below zero, but most significant is that the 144 is crossing 200 topside for the first time since June 2009.

The whole scene put together looks like this ...

The HERD is at the Mara. they want to cross = go LONG.

The crocs are all there, underwater, silently and not moving much, just waiting for the HERD to jump in. And for the HERD members that do make it across, there are lions waiting.

What a life. Fck being a vegetarian. :)
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You were warned on July 29.

esp. re: Vix

Vix (May 19) ++++ Galactic Death Cross ( July 21)

As of yesterday's close, Vix is now above the 200-day, its Macd is curling up from below zero, but most significant is that the 144 is crossing 200 topside for the first time since June 2009.
 
Quote from deadbroke:

Vix daily chart ... the giant has crossed topside.

Who be the giant? :)

Gann.

Who be the cross-ee?

The 200 sma.

Who be Gann?

the 144 sma.

Its a hard road Daddy-O, when my job is turning Lead into Gold. :)
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more proof of the Vix warning call July 28 ... re-read quote
 
Quote from deadbroke:

alongside the dinosaur Fat finger sub-call, I hope you guys are paying attention to the VIX as he sits atop the 78.6% retracement of the Fat Finger wave.

Vix, also perched atop the 200-day m.a., was seen whittling on a piece of wood. I got the feeling when he stops whittling, something's gonna happen.

Flush and concommittant with the 200 is the magnificent 144 s.m.a. about to generate a northbound cross. Note that its younger brother the 144 e.m.a already generated a cross on May 19, 2010.

When said cross occurs, BEAR's weaponry will be idolized and lionized as the only extant gravity-proof reverse waterfall gets underway.

Fasten seatbelts!!! :) :)
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yep, enjoy :)
 
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