Right out of the gate it traded to r2 (618ish) and theorectically a pullback was expected with or without the stupid AMBK news which only amplified it. But the pivot (608ish) held and onwards back to close near r1 (615). Tomorrow's numbers are 619, 613 and 608. Not starting a strong up trend since buying sentiment is miniscule, but still a buy until proven otherwise. Near term target is 623 then 630.
2c
Wednesday, March 5, 2008
Tuesday, March 4, 2008
How many times can you beat a dead horse?
Citigroup again and is it not old news? Intc is not supposed to be a market mover anymore. Anyways, it was a weak buy and the bears had it again but what an amazing reversal. DIA has a turtle soup buy signal today. Every day the signal is stronger but not confirmed yet. All gurus are pointing to Friday as possible buy day. Today, it closed at about pivot. Tomorrow's numbers are 615, 609 and 605. All the market has to do tomorrow is to close at 615 at a minimum and then confirmed buy signal is out.
2c
2c
Monday, March 3, 2008
Well
Today's S1 (607) has not been broken. Tomorrow's numbers are 616, 612 and 610. It is an inside day and NR7. There are signs of bouncing. ISM data was bad but better than expected. If it were not Warren Buffet's mouthing off the economy, it would have reversed earlier in the day. OK this is an early buy but true strength will not come by until it closes above 624. So ewave is just that and will see how it unfolds. Weekend's comment was mistakenly deleted, and apology to the commenter.
2c
2c
Saturday, March 1, 2008
Weekend Update - Dow Waves
Let's revisit waves again. Dow is being used for OEX charts are screwed up. OK.
Wave 1 - 5 polywaves - Oct11 to Nov27 - 1454 points down
Wave 2 - 3 abc corrective waves - Nov27 to Dec11 - 1036 points up
Wave 3 - 5 polywaves - Dec11 to Jan22 - 2135 points down
Wave 4 - Triangle abcde 5 waves - Jan22 to Feb28 - trianlge often occurs in wave 4 and according to Elliot it has got to be no more than 5 waves. The waves are progressively smaller than the previous ones and wave e can protrude a bit. The triangle has already been broken out and completed. The target of wave e is minimum 0.75 of the widest one which is wave b in the triangle and the target should have been 12996, not quite reached but EMA 89 is the limiting band as you can see. So wave 4 was 1111 points up.
Wave 5 - Feb28 - can be a mono or poly wave but has already started and at this point the low of Jan22 is expected to be retested. It should be shorter than wave 3 but a thousand points down is not surprising.
Calling on all ewavers to comment
2c
Wave 1 - 5 polywaves - Oct11 to Nov27 - 1454 points down
Wave 2 - 3 abc corrective waves - Nov27 to Dec11 - 1036 points up
Wave 3 - 5 polywaves - Dec11 to Jan22 - 2135 points down
Wave 4 - Triangle abcde 5 waves - Jan22 to Feb28 - trianlge often occurs in wave 4 and according to Elliot it has got to be no more than 5 waves. The waves are progressively smaller than the previous ones and wave e can protrude a bit. The triangle has already been broken out and completed. The target of wave e is minimum 0.75 of the widest one which is wave b in the triangle and the target should have been 12996, not quite reached but EMA 89 is the limiting band as you can see. So wave 4 was 1111 points up.
Wave 5 - Feb28 - can be a mono or poly wave but has already started and at this point the low of Jan22 is expected to be retested. It should be shorter than wave 3 but a thousand points down is not surprising.
Calling on all ewavers to comment
2c
Friday, February 29, 2008
Plain simple
As expected AIG was up to no good with derivatives and faulty accounting practices without marking to market. Voila, the market sold off and right off the start it was below S1(627). Shorts were initiated and closed out by EOD. Tomorrow's numbers are 624, 618 and 607 and more sellings are expected.
good luck
2c
good luck
2c
Thursday, February 28, 2008
Pivot is king...
Recalled we said position for shorts yesterday. Today, it dropped at open because of lousy GDP. But no sweats, as soon as it fell below 635 pivot, shorts were initiated and they were closed out at
about s1 (631). The rest of the day was left to the amateurs. Since it closed below s1 today, more sellings are expected tomorrow. Follow the pivots and you will never get hurt. Unlike others, we do not have to straddle anything nor do we have to play market both ways for we know what we are doing with powerful statistical analyses that are into the futures. Remember we have not lost one single trade so far. Today is the last day chart is posted. From now on use your imagination. Tomorrow's numbers are 634, 631 and 627. You can see this is an NR7. However, since we are sitting on the confluence of averages, it can still break out either side. The bias though is down.
2c
about s1 (631). The rest of the day was left to the amateurs. Since it closed below s1 today, more sellings are expected tomorrow. Follow the pivots and you will never get hurt. Unlike others, we do not have to straddle anything nor do we have to play market both ways for we know what we are doing with powerful statistical analyses that are into the futures. Remember we have not lost one single trade so far. Today is the last day chart is posted. From now on use your imagination. Tomorrow's numbers are 634, 631 and 627. You can see this is an NR7. However, since we are sitting on the confluence of averages, it can still break out either side. The bias though is down.
2c
Wednesday, February 27, 2008
Are'nt we having fun..
As expected yesterday's surpassing of r1 by the close triggered off a sell-off in the morning. This was also because of the bad durable goods numbers. Then B2 Bomber Ben spoke and became Helicopter Ben again. While he spoke, OEX pivot 633 held and you can see from the chart, longs were fired off. They were closed at 638ish level, having three tries to break it without success. This is also the all important area. Tomorrow's numbers are 639, 635 and 631. It is at the overbought area, although there should theorectically more room to go but scaling out of longs and position for shorts are in order.
2c
2c
Subscribe to:
Posts (Atom)
