Jul 30, 2014
Update
The pattern is even uglier and choppier than expected.... I hate news and FOMC. They do not change the trend but distort the pattern.
We have impulse lower, corrective structure up, another move which made lower low but instead strong wave 3 or C it looks like another corrective shit. My guess is running flat..... a move does not finish with a corrective structure so the main idea stays the same we should see one more impulse lower to finish this move.
Someone with better ideas? I am just an EW amateur:)
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Hi,
ReplyDeleteNice EW thoughts. Adding to that. target has to be 1961- 1950-1940- for a move up to 1995 level. I'd say in general below are the counts
From 1725 level , counting 5 waves up.
1 - 1850
2.- 1815
3 - 2010 ( 1.618 FIB)
4 - 1952 ( most likely)
5 - 2210 +
So we're in the last 3rd and 4th wave sequences towards and unless 1850 +/- taken out as part of 4th waves remaining, 2200+ is the level to be reached by this October time frame.
I'm kind of sick now on counting and want to trade on bigger time frames.
My logic is Raising Dollar killing Gold prices, should kill Equities as well. But with little bit of QE left, stocks have upside till all QE is done and that should set stage for correction only to advance and peak out by 2015. ( May be around 2Q 2015).
Then money should b flowing to commodities for them to peak up. After all peaked up , nothing left , but a a crash.
Anyways if you can chart GOLD ( ZAUUSD) , it'll be great addition to the EW'ers following you.
Thx
Your plan looks good....
DeleteI understand you, I have enough from this short term waves too:) Probably it is really a better idea just to sit back and wait the pullback to finish.
I am working and I have no time to follow many different markets. That is why only SP500,DAX... my wife will kill me if I spent even more time watching charts:))
Your are too bearish and that is causing your short term wave counts to be wrong.
ReplyDeleteThis wave up is not finished yet and will take the market up to new highs soon !
Bearish???? I am writing about wave 4 now and another wave to higher highs. I am just trying to navigate through the short term structure of the pullback which is difficult. Corrective moves are always difficult they are changing all the time.
DeleteBearish blogs I read are saying - 10% drop, 20% drop, crash, bull market is over....... that is bearish:)