S&P has had it ! Intermediate term top right here !

[Landis82]

Quote from Bitstream:

back in March all picky and avaricious dip-bidders waiting for spoo to touch its ema missed it all. for it they had to stay on the sidelines craving a never coming pullback as price kept slowly appreciating. not saying this time it's the same but another 1% loss and even here already is not a terrible spot to initiate regardless what happens.

There could very well be a "tradeable" low coming in at these levels, however one must not forget that the Asian Currency Crisis of '98 saw a 13% decline in just 20 trading days.

The fact of the matter is that the SPX should have accelerated ( with a very strong bid underneath the market ) to the UPSIDE once it "broke-out" above the 1440 level. When that did not happen, it was a tremendously useful sign that this Bull had exhausted itself.

Coming back below 1440 SPX was a big "no-no" for this Bull. Trading below the weekly low at 1530.80 was yet another tell-tale sign that this market was rolling over hard and no longer in the "buy the dip" mentality . . . with a test of the 1484 area, pretty much a given after 1506.10 broke.

Anyone that tried "buying the dip" in the last week obviously does not use charts, nor do they even practice basic technical analysis. Again, the market coming back in under 1540 was a huge "tip-off" to the ensuing failure.

The market gives pretty good clues as to what it wants to do. One just has to "listen" to what it is saying and react accordingly to the price action.

 

[Landis82]

Quote from MKTrader:

(The attached graph shows the 50-week MA, but the 40-week is more important right now since its basically the same as the 200-day MA. It's sitting right at 1450, too)

Yes, the 40 week is indeed more important at this juncture. it's sitting right at 1452.28

 

[ghostzapper]

Quote from Landis82:

Anyone that tried "buying the dip" in the last week obviously does not use charts, nor do they even practice basic technical analysis. Again, the market coming back in under 1540 was a huge "tip-off" to the ensuing failure.

The market gives pretty good clues as to what it wants to do.

This is such a shameful post, you have to be embarrassed.

Has anyone seen such BS after-the-fact analysis ?
you and your eliot wave called for 1559, and now you spew this crap. sad, sad.

Make the prediction, in the form of a post, ahead of time for once.
On your "own" eliot wave thread you were forecasting higher prices this past week and you were wrong.

 

[Bitstream]

Quote from ghostzapper:

that could be a mistake..

it'd be a mistake only in case the market crashes. as an initial position and the potential rewards ahead even a 2-3% decline won't worry me, infact i welcome more losses as i can dollar cost average.

 

[Landis82]

Quote from ghostzapper:

This is such a shameful post, you have to be embarrassed.

Has anyone seen such BS after-the-fact analysis ?
you and your eliot wave called for 1559, and now you spew this crap. sad, sad.

What's embarrassing is someone like yourself having called 9 out of the last 5 intermediate market tops. As someone posted earlier, you've been calling for one "intermediate" top after another since SPX 1150.

You need to look up the word "intermediate" in the Dictionary.

You might learn something.

 

[Landis82]

Quote from ghostzapper:

This is such a shameful post, you have to be embarrassed.

Has anyone seen such BS after-the-fact analysis ?
you and your eliot wave called for 1559, And now you spew this crap. sad, sad.

Yes, I called for a target top at 1559.09 SPX.

Furthermore, I did so AHEAD OF TIME when the SPX was trading at 1530 on July 9th and stuck with that prediction two days later when the SPX dipped down to 1506.10 intra-day.

As it turns out, the SPX peaked at 1555.90 on July 16th - - - just 3.19 points away from my projected target that was made seven days earlier. Moreover, I stated the following on July 13th:

"In any event, there really is no need to anticipate the coming target and top. There will be plenty of opportunity to play the downside. In fact, I would surmise that at some point in the future one could do extremely well being short below 1532 SPX, should that level not hold, looking for a "test" of the 1484 lows of late June. If my count is correct, that low will break and we will then see an increase in selling that will take the market back down to the March 2007 lows in a larger degree Wave IV."

You, on the otherhand predicted nothing AHEAD OF TIME.
Absolutely nothing.

In fact, this thread is once again yet another AFTER THE FACT market call on your part, that proves absolutely nothing.

The market was already 20 points off the print high when you started this thread.

That's called . . . AFTER THE FACT.

 

[Pa(b)st Prime]

Yea he's missed a few. He's also hit a shitload. His work is eerily similar to ours Waggie because everytime he's made a "intermediate" pick it's been off a measurement or an extension that only guy's like you, me and him even think about. Wise guy stuff.

Give credit where credits due. The same way I give you perma-props for your declining VIX call a few years back I must rank da bird as a major talent.

Quote from Landis82:

What's embarrassing is someone like yourself having called 9 out of the last 5 intermediate market tops. As someone posted earlier, you've been calling for one "intermediate" top after another since SPX 1150.

You need to look up the word "intermediate" in the Dictionary.

You might learn something.

 

[Landis82]

Quote from ghostzapper:

Make the prediction, in the form of a post, ahead of time for once.
On your "own" eliot wave thread you were forecasting higher prices this past week and you were wrong.

Your reading comprehension is quite lacking. Perhaps you should try enrolling in an ESL course?

I did not post this past week on my Elliott Wave thread. My last post was Friday, July 20th, and I stated that the SPX needed a Weekly close back above 1540.

Show me where I stated otherwise.
Show me where I posted this past week on that particular thread.

You are wrong again, Bird-Brain.

 

[ghostzapper]

Quote from Pa(b)st Prime:

Yea he's missed a few. He's also hit a shitload. His work is eerily similar to ours Waggie because everytime he's made a "intermediate" pick it's been off a measurement or an extension that only guy's like you, me and him even think about. Wise guy stuff.

Give credit where credits due. The same way I give you perma-props for your declining VIX call a few years back I must rank da bird as a major talent.

Thx Pabst, but please don't put me in the same category as waggie. I have 11+ years of double digit profits, waggie has his story of working for tuder jones. I have years of great calls on ET, waggie has years of gay stalking of good posters on ET. Very hard to see any similarities between us.

waggie and volente have loads in common though. They're like blood brothers.

 

[ghostzapper]

in case you haven't taken ghostzapper seriously,
now is the time..

The S&P won't see 1555.9 for years.
The 4 year bull market that has doubled the S&P from its lows is now over.
Take it to the bank amigo.