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.

5 comments:

  1. 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. 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. Hi,
    If possible, please chart RUT

    Thx

    ReplyDelete
    Replies
    1. 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. 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