Moonshot Starts Today: 9/29/05

[gharghur2]

Quote from Apex Capital:

The SPX is in a 3-2-5 pattern and just completed the 3 and the 2 portion and has now begun an UPWARD 5 DAY SEQUENCE signaled by today's action.

The expectation is for a rally to unfold to test two key levels on the charts. This first key level is the previous high at 1237.95 and second point is the high at 1245.86. A close above the 1245.86 level will signal a minimum rally toward the 1315 level over the next two to three months.

Also, Friday is a weekly and monthly close suggesting that if the market closes above the 1230.70 level today it will set the tone for a strong rally for the balance of the year and into the first quarter of next year. The minimum positive close for today is the 1225.35 level and a close over 1230.70 will be very bullish for the weeks to come. Expect higher prices for the next several days.

The A-B-C correction is complete.
Time to rock to the upside in the next impulse sequence.

The AAI sentiment poll adds fuel to the fire - - - with Bears now outnumbering Bulls by 39.1% to 31.9% whereas just one week previous the numbers were nearly reversed, at 32.5% Bears to $39.5% Bulls.

Don't fight the tape.
The TREND is your FRIEND!

Way to go MIKE!

 

[jackbyrd]

Quote from gharghur2:

Way to go MIKE!

Are you mental? He posted that after the close last night. In other words, AFTER THE MOVE ALREADY HAPPENED.

 

[gharghur2]

Quote from jackbyrd:

Are you mental? He posted that after the close last night. In other words, AFTER THE MOVE ALREADY HAPPENED.

That wasn't a move, that was a beginning

What market were you watching today?
The move has just begun.

A little back and fill on monday-tuesday maybe
Then off to the races again!

 

[Apex Capital]

Quote from gharghur2:

That wasn't a move, that was a beginning

What market were you watching today?
The move has just begun.

A little back and fill on monday-tuesday maybe
Then off to the races again!

Exactly.

Great Weekly close.
Great Monthly close.

 

[Kicking]

nice wave count on paper I admit but these waves have a habit of flipping you over

you may be right but this market can go either way and makes it very difficult to get on board so why bother ?

 

[Rickshaw Man]

Quote from Apex Capital:

Exactly.

Great Weekly close.
Great Monthly close.

This has been one of the most lack luster trading enviorments in the past 10 years. The SP500 has been mired in a tight range for the past 11 months. 3 month % change 3.15%, 6 month % change 4.08% YTD % change 1.39% 10 month point change + 54.99. Running in circles with an ever so slight upward slope.

 

[Maverick74]

Quote from Apex Capital:

The SPX is in a 3-2-5 pattern and just completed the 3 and the 2 portion and has now begun an UPWARD 5 DAY SEQUENCE signaled by today's action.

The expectation is for a rally to unfold to test two key levels on the charts. This first key level is the previous high at 1237.95 and second point is the high at 1245.86. A close above the 1245.86 level will signal a minimum rally toward the 1315 level over the next two to three months.

Also, Friday is a weekly and monthly close suggesting that if the market closes above the 1230.70 level today it will set the tone for a strong rally for the balance of the year and into the first quarter of next year. The minimum positive close for today is the 1225.35 level and a close over 1230.70 will be very bullish for the weeks to come. Expect higher prices for the next several days.

The A-B-C correction is complete.
Time to rock to the upside in the next impulse sequence.

The AAI sentiment poll adds fuel to the fire - - - with Bears now outnumbering Bulls by 39.1% to 31.9% whereas just one week previous the numbers were nearly reversed, at 32.5% Bears to $39.5% Bulls.

Don't fight the tape.
The TREND is your FRIEND!

Feel free to amend this post Wags.

 

[Apex Capital]

Quote from Maverick74:

Feel free to amend this post Wags.

Don't have to.
But then again you obviously have a difficult time reading.

As indicated above, a close above 1230.70 was needed to set the bullish tone for weeks to come.
We never closed any higher than 1228.81 last week.
Close, but not good enough.

 

[Maverick74]

Quote from Apex Capital:

Exactly.

Great Weekly close.
Great Monthly close.

OK, my bad. I'll try to re-read these posts and get back to you.

 

[Trend Fader]

Quote from Apex Capital:

Don't have to.
But then again you obviously have a difficult time reading.
As indicated above, a close above

Whatever dude... now find a way to dig yourself out of this call. He can start a thread calling for a moonshot on the S&P and now because it didnt close 2 points away from some price level.. all his great analysis is completely moot...


Bottom line is that eliot wave, fibs and the other crap is just a bunch of BS... all the professional traders already know this.... I know many institional traders and they think the same...

There is no edge in your analysis...


--MIKE