How much upside after Ben cuts?

How much upside after Ben cuts?

  • >5%

    Votes: 8 14.3%

  • 2-5%

    Votes: 0 0.0%

  • 0-2%

    Votes: 9 16.1%

  • No Upside, we decline from here.

    Votes: 39 69.6%
  • Total voters
    56
Landis82


Registered: Jul 2006
Posts: 3905


New Post 10-29-08 01:44 PM

Just retraced 78.6% down to 926 ES.
Should stabilize and climb back up from here.



Landis82,
The .786% you refer to from ES low 914.25 to 954.75 high? If so I see .707% , How close is good enough for you?
Thanks
Trader
 
Quote from Ivanovich:

It's almost uncanny. Every time you post, the market turns around negative. I'd really like to see a nice rally, so can you please just shut up? Just post after the market closes if you're right.
More...

See, ST? You've shut your mouth for about 30 min now and the market is rallying. STAY AWAY UNTIL CLOSE!

:mad:
 
Quote from trader123abc:

Landis82


Registered: Jul 2006
Posts: 3905


New Post 10-29-08 01:44 PM

Just retraced 78.6% down to 926 ES.
Should stabilize and climb back up from here.



Landis82,
The .786% you refer to from ES low 914.25 to 954.75 high? If so I see .707% , How close is good enough for you?
Thanks
Trader
More...

Let me clarify . . .

The correction of Wave 1 ( this morning's gap up ) was 38 points.
( ie. Wave 2 was 38 points ).

After the late afternoon highs up around 954.75, the followers of EWT were looking for a Wave 4 pullback . . . We got that down to 926 after the FED announced its rate-cut and it so happened to be a fib ratio of 78.6 of the Wave 2 pullback of 38 points from this morning.

From the end of Wave 4 at 926 ES, you could then project new highs for the day by using the length of Wave 1 from this morning, which was a little shy of 50 handles, targeting 973.75 on the ES.

It's simply extensive use of fib ratio's and comparing legs ( waves ).
I'm sorry if I wasn't that clear initially. Just not enough time to post.

See chart below

:)
 
And I present stock_trad3r with the inaugural Noob Saibot award for stock market stupidity

NoobSaibotMK.JPG
 
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