Jul 14, 2014

Update

The price action looks more bullish than bearish...
New lower low has now low probability so I have changed the alternate scenario (the "bearish" one in red) - possible triangle suggested by kkandru.
We will know tomorrow - dip to support for the more bullish scenario(white) or wave E of a triangle to 1960-1965.
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5 comments:

  1. kkandruJul 15, 2014, 3:59:00 AM

    Thanks for considering my request. Even if it makes new highs from 4th wave ( triangle or not), market is sort of topping I guess.

    If there're small corrections, top is around october with SPX making 2200+

    If correction is real deep , say to 1700+ levels, from October another all time highs to next September 2015 timeframe followed by big crash in deflationary cycle

    Anyways great work.

    Thx

    ReplyDelete
    Replies
    1. KrasiJul 15, 2014, 6:51:00 AM

      Yes I do not expect some long lasting rally just a top before a more significant correction.
      And yes I do not think that this is THE TOP.

      Delete
  2. kkandruJul 15, 2014, 4:11:00 AM

    Hi,
    If possible, please chart RUT

    Thx

    ReplyDelete
    Replies
    1. KrasiJul 15, 2014, 6:49:00 AM

      I have looked the RUT chart - the decline looks impulsive and the retracement is weak as expected I think we will see a lower high.
      This guy is right I think - http://blog.wavetrack.com/russells-2000-decline-unfolds-five-wave-seqence/

      Delete
  3. kkandruJul 17, 2014, 1:35:00 AM

    HI,

    Perfect triangle breakout , but hardly seen by any EWers. Now it's interesting to see another high. Since DAX already reached top ( FIB top), matter of SPX making another high I guess.

    Please update chart

    Thx

    ReplyDelete

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