Sep 29, 2014

Update

Completely wrong about the short term, but after 18 points gap instead starting 3 of 3 and huge plunge we are seeing this below.
Come on bears this is not serious.... several days down-up-down-up-down-up, sorry but this is not an impulse. If the bears do not push the indexes near the lows in the afternoon session that will mean for me that we saw the bottom for the pullback.

P.S. I am trading the DAX and I am long near the low. The DAX hit my target today, three wave sequence A=C, 50% Fibo, support level....

7 comments:

  1. bellow is spelled wrong--one L--BELOW

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    1. It is corrected:) Lesson learned:)

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  2. though wrong most of last week i think we got a bottom today within normal trading cycles of this market.(36 days)

    my question is that you feel a two week to three week rally would set up for large decline?10% plus correct?

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    1. Yes, I think everything starts aligning and we will see a bigger correction.
      2-3 weeks because we should see a 20 week cycle top. Currently week 9 and average length is 14-16 weeks.
      I can not time it exactly this is an estimate. We will follow the price action and we know that we expect 20 week cycle low which should be deeper than the current one because it is of a bigger degree.
      Than Christmas rally and final low 18 month cycle low in 2015 the end of Q1 or the beginning of Q2.

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    2. Carnap:
      That is indeed what I expect too.

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  3. Carnap:
    09/30/2014 19:00

    The move which has broken the red trend line developed to a ZZ only. Above 1972 a further ZZ could follow. The target remain intact as long as the black trend line keep unbroken. With a break of the trend line we will see a test of the 1966 level.
    See: http://chartbuster.wordpress.com/about/spx-2/spx-w-40-2/

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    1. Yes, we have only a-b-c to the upside..... but the bigger picture is not clear to me.
      The move is too choppy for me:) I am just waiting now

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