Today 12/20/16 based on pre open S&P futures - the SPX will probably open in the zone I had noted in may last SPX post. Today could be a very important top.
Mark
Kommentare
Kantardziski
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I really don't understand why some folks want a shorting opportunity so badly, they would trade on that desire rather than the chart, data and technicals that are right infront of them... Are there actually committed perma-bulls or perma-bears ? You can be playing the upside until the tecnhnicals concur a bearish outlook. Anyhow, since July through till early Nov it was crap, some rally, more crap, more rally, and last week was crap... that translates to 20 trading days approximately of real rallying... Anyway, I am quite thrilled to profit from both directions but isn't it natural to like a rallying market just a tad more... you know, a better economy, less fired employees, more happiness, etc... I digress, anyhow seems both bears and bulls, but more so bears over the past month or two, get some serious tunnel vision and can't see the forest from trees...
Good luck and Happy Trades!
btw @markrivest When you said (on another chart of yours) that wave analysis has a bearish and a bullish possibility for each pattern, I assume that must be unique to your 'bars' format chart, is that correct? May I ask why you would count waves on a bar chart?
I like using the bar chart because its easier for me to find the wave counts. Elliott wave analysis always has two different interpretations bullish/bearish regardless of the chart format.
Mark
Kantardziski
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No one seems to realize what your intention was, lol!
The_Unwind
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Mark,
Excellent pinpoint call on SPX today, 12-20 closed right in the zone you had forecast.
Thanks for the comment. For future reference my hope is to be on the right side of a market. As of the close on 12/21/16 this short is effective.
Mark
Kantardziski
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@markrivest Gotcha, for me todays premarket action was dramatic enough for me to go short for the day, at least... I would have liked to see more of the same from yesterday (most of it happened post-bell)
Thanks for the compliment. So far it looks like the SPX just had a mid-day sell off.
The DJIA still hasn't reached 20,000. I suspect this level will have to be hit at least on an intraday basis before a serious decline can begin.
Good luck and Happy Trades!
btw @markrivest When you said (on another chart of yours) that wave analysis has a bearish and a bullish possibility for each pattern, I assume that must be unique to your 'bars' format chart, is that correct? May I ask why you would count waves on a bar chart?