@ 4 PM
SPX @1380 is a 78.6% retracement. It is reasonable to open up to this possibility at this time. Minor 3 will not be the longest. Minor 1 will be the shortest. Minor 5 will be extended and the longest, which are all fine by EW Rules.
Also (C) = (2/3) X (A) @ 1380. Looks like an achievable target by mid March. We are already up 50 points since the beginning of this month. Mid March also appears to be just about the time financials need to complete their Minor 5 of (C).
Today's action does not look like a wave iii, so rearranging the labels a bit.
@ 12 Noon
SPX @1380 is a 78.6% retracement. It is reasonable to open up to this possibility at this time. Minor 3 will not be the longest. Minor 1 will be the shortest. Minor 5 will be extended and the longest, which are all fine by EW Rules.
Also (C) = (2/3) X (A) @ 1380. Looks like an achievable target by mid March. We are already up 50 points since the beginning of this month. Mid March also appears to be just about the time financials need to complete their Minor 5 of (C).
Today's action does not look like a wave iii, so rearranging the labels a bit.
@ 12 Noon
Vega - Good job with your count! - it's been working for awhile - i wish i would have gotten on this count earlier.
ReplyDeleteIn a zigzag, C should end significantly higher than A.
ReplyDeleteThe ABC zigzag off of March 09 lows. (C) should ideally be equal to (A).
At the least (C) should equal .618 X (A) in my opinion.
yes, 1350/1353 looks likely -- seems we're in some kind of "inflation frenzy" - yields up - silver and gold back up -- stocks up every day - at some point that's how the TOP will be made!
ReplyDeleteI think it is combination of dwindling confidence in fiat currencies and debt denominated in it.
ReplyDeleteThe link you posted on Daneric's blog generated quite a bit of traffic.
Minute 1 -- 1174-1247 73 pts.
ReplyDeleteMinute 3 -- 1232-1302 70 pts.
assuming above - I'm thinking Minute 5 should be a smaller wave. Minute 5 so far -- 1275-1325 gives 50 pts... leads me to favor your original count...that we are further along toward the end of Minute 5. We'll see...perhaps minuette 1 of Minute 5 will be the larger wave... Minuette 3 and 5 smaller...allowing for Minute 5 to top 1353?!
Oh, I should ask - would you rather not me link posts? No problem - I'd understand if you're not seeking traffic?? I'm not when i post either - just easy to share that way.
ReplyDeleteThe 1350 top count is by no means ruled out. It could turn out to be the top. All minute 1,3 & 5 could be in the 70-75 range and may be considered equal.
ReplyDeleteThe 1380 count is a good possibility though and is something should be on our radar. If it pans out, it will most likely cause minute 3 of minor 5 to be recounted.
No problem posting links. Itz cool.
ReplyDeleteThe more people can see, it gives them another way to look at wave counts.
here's a possibility to consider ... for the 1350ish Minute 5 top. Looking at the chart - Minute 4 "looks" like a 4 wave -- and the small purple 2's "look" like 2's.
ReplyDeletehttp://jeffreygtc.blogspot.com/