Probably some strict Elliotician's will have umbrage with this view of QQQQ. Appreciate all comments. I think EW can be useful at all time spans, but I also think that sometimes the rules need to be bent, especially at the topping process of a major Mania. I don't know for sure that my alternate is truly even bending the rules.
This says either the top is in, or we were $.16 from the top, assuming C=A
Hi Steveo!
ReplyDeleteLet me send you my 2 cents.
SPX 500 - Monthly - " Follow Trend "
I use some indicators that I created, but I like to follow the traditional indicators.
Important to follow market and follow trend.
Follow the trend is have the opportunity to make money more easily. And that's what all the trades want.
This chart is one of my preferred to see the long term.
With a week over a monthly closing, we have only 50% of bullish signal.
For a bull market I need to see:
1 - Close > Moving Average;
2 - RTS Indicator -> Black line > yellow zone.
http://followmarketrend.blogspot.com/2009/10/spx-500-monthly-follow-trend.html
SPX - Road Map " Bullish Scenario"
http://followmarketrend.blogspot.com/2009/10/spx-road-map-bullish-scenario.htmlSPX500 - Weekly Update
**************** Advise ********************
Build short positions > 1080
Fisrt Target [1005,1020] 70%
Secound Target [975,980] 30%
********************************************
Indicator didn`t follow price.
Testing this week again trend Medium vs Long Term.
Market Losing Momentum.
Possible bearish divergence but need confirmation.
http://followmarketrend.blogspot.com/2009/10/spx500-weekly-bearish-divergence.html
Nice weekend for all
Hi Steve
ReplyDeletemessed up your chart a little
http://screencast.com/t/tAQkaayK1T
DDT, thanks for messing up the chart...I like your interpretation to. I may look at SPY and DIA later if I have time. I am liking the $DWC which I did a fresh post on.
ReplyDeleteHi Steveo,
ReplyDelete2 cents and 2 charts
Both charts tell me the same.
NDX losing momentum, the market appears to be overbought.
Big resistance between [1760,1810] area and got this ascending wedge pattern.
A lot of traders are/ will watching this, and they will jump.
http://4.bp.blogspot.com/_MJqKtyMMr28/SuRqRMCpkQI/AAAAAAAAA4A/5ASIxDZy7vM/s1600-h/NDX+DAILY+25102009.png
http://1.bp.blogspot.com/_MJqKtyMMr28/SuRq8EriYCI/AAAAAAAAA4I/TdsrnEYHgxg/s1600-h/NDX+DAILY2+25102009.png
NDX 100 - Big Picture " Road Map"
Weekly chart to follow coming weeks.
I expect Top Medium-Term between [1761-1811].
Natural target for first pullback between [1420-1490]
**************** Advise ********************
Build short positions > 1760
First Target [1490-1520] 70%
Secound Target [1420,1450] 30%
********************************************
Indicator didn`t follow price.
Testing this week again important resistance Medium-term.
Market Losing Momentum.
http://followmarketrend.blogspot.com/2009/10/ndx-100-big-picture-road-map.html
Big trades for you Steveo.
I will put your blog my best trades blog - At the end of my blog.