SPX 500
By davidc December 12, 2008
I am not convinced on shorting this market at all. The possible abc outlined recenltly is still i play. I did manage to nibble into JBLU and SSO short before the flush but very short term im looking out for more upside. Traditional TA supports the EW picture i think we are in.
SPX EW Count updated
By davidc December 11, 2008
SPX Rising wedge ?
By davidc December 10, 2008
SPX Rising wedge taking shape ?
I will be watching this closely . Things are still working out for our recent count. Things can change on the drop of a hat decreasing probabilities but its worth noting how things are looking so far.
Possible Elliot Wave Count
By davidc December 9, 2008
Im gonna be brief as its late for me here in Spain. Props totally to Tuke on freetradingvideos.com for helping me to see this but this is a count that makes sense to me. The timeframes are tight ( im learning to take time into my EW count ! ) so we could be in for a bit of a ride! Think of it this way in the non EW world. We dont have a double bottom , any sustainable rally ( intermediate 4 ) has no legs untill we do. There has been a lot of debate about intermediate 4 being in play and perhaps it is although i no longer think so. I believe our bounce has been an minor wave 4 and it may take us higher.