“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Thursday 28 March 2013

Mid Day Update

The 1st chart I showed last night seems to be still in play, but the only changes I have made is that instead of a 2wave ZigZag down we just kept pushing higher.  Ultimately our higher high was achieved and the drop on the morning of the 27th finished off an ABC that looks like one straight line down.  sometimes you cannot predict those things.  So looking at these patterns we can scale up the 3rd wave so we should still look for a 4th and 5th.

Yesterdays analysis:

Todays Updated count:
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4 comments:

  1. Unknown28 March 2013 at 15:55

    http://4.bp.blogspot.com/-EooeP2OcVEY/UVICVf-fCEI/AAAAAAAAAqU/yUZgUED0K4Y/s1600/SPX+5min+Mar+26+2013.jpg

    good call man, i am now awaits for another short entry price next week
    was going to pull the trigger today, but hesitate

    good work yo

    ReplyDelete
  2. Unknown28 March 2013 at 16:16

    *hesitated

    there is also a downward sloping trend line on the vix etf of a lower low, if the low occurs next week, ill pull the trigger

    also on vix index, there is a gap at 12

    ReplyDelete
  3. MP28 March 2013 at 16:27

    The EW counts can be or is confusing, but it gives us a general idea if we are close or not. The end of the day push could potentially become the 5th and final wave but there is no reversal candle on a daily scale, so will have to watch the first day of April for clues to daily sentiments. Another thing to add is that we have achieved the divergence on Price and Stoch. that I was looking for. Still we are only 30 pts away from 1600 SPX.

    ReplyDelete
  4. Unknown28 March 2013 at 17:29

    indeed
    i was also looking for a daily candle reversal to trigger my short position. but today's market showed no weakness, and finished strong on a short term brake out

    ReplyDelete

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