Transportation update
Tuesday, August 25, 2009
Just a little update of the transportation friends.
Best to your trading
PH
SPX daily update
Change a little my primary count but after this wave iv again i expect new highs.
SPX daily update
Monday, August 24, 2009
As everybody know, until August 31 i'm on vacation and enjoy some beautiful days in Algarve. Therefore, don't be surprise if i miss any dialy or intraday update.
Despite this SPX is at his final wave C of this bear market rally and at short time is doing wave iii of wave C. My primary count suggest SPX may do 11xx's and P3 may began at middle of September (see my Table "Fibonacci ratios"). For now is early to short SPX and i will be wainting the end of wave iv of C to began short.
Friday, August 21, 2009
I think this is the count. The strength of the market suggests a blue wave 3 and yesterdays corrective movement suggests another irregular correction for blue wave 2 with pink "a"="b".
Best to your trading
PH
Testing the highs
In the sequence of previous post, here it is. Channel broken and highs being tested, that should origin a little pullback and then... rock and roll baby.
Best to your trading
PH
Be very careful for tomorrow!
Hello friends. Yesterday's movement was indeed impulsive, and after that (almost 38,2%) correction, we should be impulsing as well. The thing is that today's movement was series of overlapped waves that makes absolutely no sense for who's expecting a third wave, usually the strongest of the impulsive movement.
Looking for confirmation on the other indexes, i was confronted with a Dow and a Nasdaq that did not brake out a descending channel from the highs. Also Nikkei 225 appears to be resuming the down correction movement with tranquility...
I made an alternative count and covered my long positions for now, better a small profit then a loss. It's a 50/50 scenario and that gives me no comfort. Confirmation comes with those channels broken and with the highs being tested. If this more bear count comes to reality, we should be smelling SPX 960 in a blink of an eye. Sorry for the testament.
Best to your trading
PH
SPX 10 min
Thursday, August 20, 2009
Hi friends.
I've been monitoring spx in detail to look for a sweet spot to enter with my last 25% position. Did not work for half a point or something. Once the job is done, i decided to post it here. For now, everything seems to align with our recent posts. Yesterday's move looks really impulsive.
Best to your trading
PH
SPX daily update
Appears wave B already finished today in cfd's charts.
Now, C waves usually respects certain Fibonacci ratios based on A price movement. With that in mind the final targets for this final wave C of Z can be:
Wave C of Z = 0.618*a = 1070 points;
Wave C of Z = a = 1127 points;
Wave C of Z = 1.618*a = 1218 points.
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