resumption of the bull market?
- Thread starter gharghur2
- Start date
For comparison here is NQ it's a bit different than ES/SPX because the price low was actually the orthodox low too (Oct 13th).
While the ES/SPX and YM/DOW were goofing off building a base (drove me nuts!), the NQ/NAZ was already impulsing. I tried to tell you guys, but everyone was so concerned with ES breaking down, (it had me concerned too), it was kind of ignored.
From the Oct 13 low, we have five waves up labeled wave 1. Btw, wave 1 topped at the same time for all three indices. After a steep wave 2 correction. We again have the same subdivided wave 3, this is why all the indices are moving strongly, they're all aligned. The same criteria applies to the NQ as the previous ES post. Here again (wave 3) is shorter than (wave 1), so (wave 5) can not be longer than (wave 3). Looks to me (wave 3) is about 25 points, you do the math from (wave 4): 1647 or less?
After that the same scenario again as ES
Best to your trading!
While the ES/SPX and YM/DOW were goofing off building a base (drove me nuts!), the NQ/NAZ was already impulsing. I tried to tell you guys, but everyone was so concerned with ES breaking down, (it had me concerned too), it was kind of ignored.
From the Oct 13 low, we have five waves up labeled wave 1. Btw, wave 1 topped at the same time for all three indices. After a steep wave 2 correction. We again have the same subdivided wave 3, this is why all the indices are moving strongly, they're all aligned. The same criteria applies to the NQ as the previous ES post. Here again (wave 3) is shorter than (wave 1), so (wave 5) can not be longer than (wave 3). Looks to me (wave 3) is about 25 points, you do the math from (wave 4): 1647 or less?
After that the same scenario again as ES
Best to your trading!
That would make sense. Some of my late readings look less and less like noise and increasingly like a bullish signal with $64 as a target price, but there's definetly nothing bearish going on so a good strategy in this case would be to write puts.
kind of funny, a couple of weeks ago i was reading a thread where everyone was bearish....and i was short Real Estate. I was stopped out by my best friends DHI and HOV this week. I switched to long on a tech stock..RIMG.. due to the short term trend...even though i like to short. I think the contrarian in me is telling me that becuse everyone is at least mildly bullish today...i will get stopped out again!
