Monday, September 28, 2009

SPX - 9/28 AM Update: Minuette (ii)?

So far, I can count 5 waves up for wave 'c' of minuette (ii). A touch of 1060-1065 will result in a 50-61.8% retracement of the 9/23 high (1080) and 9/25 low (1041).

Still keeping an eye on the same levels to give us a better idea where she's headed.

> 1080 = P2 still in progress
< 1039.47 = good chance P3 in progress


  1. Notice that the NYSE A/D line is very strong again today. This is not reflecting a market that is getting "tired" or one in which the advance is narrowing and/or deteriorating.

    I've noticed that most "bloggers" continue to ignore this most significant indicator. And when they do address it, they more often than not use it with volume in an effort to buttress their case that there are "divergences" that are showing up which elude to their bias that we are now in P3.

    Yet, most of these bloggers are too young to understand that breadth can deteriorate for WEEKS before a market tops in price. They simply don't have a solid understanding of market history in order to understand this. It's kind of like watching the RSI, MACD, and the $BPSPX for divergences, and yet the market has moved higher and higher during this "C" wave in which those indicators showed divergences.

    They are a waste of time, in my opinion.
    They offer very little predictive value.
    The NYSE A/D line is much more significant!

  2. wags...where are you???
    do you have a blog?
    i was lplplp in dan's.
    i wont tell you who am i at kenny's yet... but i am laughing at all of them as much as i am earning... went long this morning at 4.00 am....right on the pivot point

  3. wave, do you really think that is a correction?? look you have a beautiful ld from this morning as w1, then a retracement as w2 and this impluse will end in a higher high for the year. On euro50xx about 2950 on spx about 1090.
    Wave, do you have a permanent marker? those for writting on cd's? ok take it and write a big "L" for loosers all of those your friends' foreheads... would you have followed all the advises i gave you, would you have earned as much as i did.
    I am to think that all of you are really here to mislead everyone else following you...