Aug 23, 2014
Update
Ok as I wrote after the low - expect at least two weeks higher and the sentiment should turn bullish again.
and that is what we saw...
The alternate scenario played out with higher high.... that is why I told you to go long around the low.
Now I think we should not expect huge rally this is final wave 5 before a bigger correction. Short term I think we are in wave 3 of this final wave and one push above 2000 is left.
Cycles - at week 10 of 20 week cycle(average 14 weeks) and week 29 of the 40 week cycle(average 33 weeks) so it is time for the 4-6 weeks down part of the bigger cycles.
It is time to be cautious, chasing 5 of 5 of 5 could be dangerous. At the moment move bellow 1965 and this wave higher is over.
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Hello Krasi,
ReplyDeletehere is the TD Sequential for S&P500 on daily. The actual running Sell Countdown is indicating new Highs.
[URL=http://www.pic-upload.de/view-24454174/sp1.png.html][IMG]http://www11.pic-upload.de/01.09.14/6pzfsvzlfi4n.png[/IMG][/URL]
From EW perspective the wave 5 did not show any weakness so far. Maybe is not an impulse more a ZZ or DZZ which indicates that a special impulse form is on the way.
Thanks for the chart:)
DeleteYes the move to the upside is not finished.
I think the impulse looks ok and one more push higher for 5 of 5 is left....
If you go down to the hourly you will see until now there is no typical extension of an elongated wave which is a main rule for an impulse structure. That means the wave v should not become longer than 61.8% of the longest wave. Therefore the limit for wave 5 will be 2029.8 in the case that the correction of wave iv has been ended already (I don´t think so). Because for an ending pattern we definitely need a more extended wave iv.
ReplyDeleteI prefer a ZZ or DZZ as a first wave of an possible EDT forming in wave v. We will see.