Tuesday, May 29, 2012
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Wave Labeling
CYCLE - Green - I, II, III, IV, V - A, B, C, X
PRIMARY - Red - I, II, III, IV, V - A, B, C, X
MAJOR - Blue - 1, 2, 3, 4, 5 - a, b, c, x
INTERMEDIATE - Purple - 1, 2, 3, 4, 5 - a, b, c, x
MINOR - Red - 1, 2, 3, 4, 5 - a, b, c, x
MINUTE - Green - 1, 2, 3, 4, 5 - a, b, c, x
MICRO - Black - 1, 2, 3, 4, 5 - a, b, c, x
NANO - Black - (1), (2), (3), (4), (5) - (a), (b), (c), (x)
PRIMARY - Red - I, II, III, IV, V - A, B, C, X
MAJOR - Blue - 1, 2, 3, 4, 5 - a, b, c, x
INTERMEDIATE - Purple - 1, 2, 3, 4, 5 - a, b, c, x
MINOR - Red - 1, 2, 3, 4, 5 - a, b, c, x
MINUTE - Green - 1, 2, 3, 4, 5 - a, b, c, x
MICRO - Black - 1, 2, 3, 4, 5 - a, b, c, x
NANO - Black - (1), (2), (3), (4), (5) - (a), (b), (c), (x)
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About Me
- Apple Al
- Manage apple orchard & processing business full time - trade part time Traded cattle futures professionally for family meat packing company in 1980's Also traded stock indexes for own account Won the US Trading Championship - Options Division in 1986 (500%+ return in 4 months)
Vindicator Webcast
Hi Al,
ReplyDeleteI wanted to let you know that I glance over here every day. I think your charts make sense. May be I want the market to decline to shut my "buy-n-hold" friends get blasted or because I know that at these levels my risk to reward ratio is high.
No matter, I have learned to be very patient.
How did you come to picking 1334.81 for the current move higher?
I posted this chart today on SJ's site
http://stockcharts.com/h-sc/ui?s=$SPX&p=15&yr=0&mn=0&dy=10&id=p22447349102&a=267943408
I also think that the move from 1415 to 1292 might be wave i down. In this case, we are in wave ii which usually retraces 50 to 61.8% of wave i. This means that 1353 to 1368 is the target.
http://stockcharts.com/h-sc/ui?s=$SPX&p=15&yr=0&mn=1&dy=3&id=p06495049465&a=268225459
Pretzel has this option has well as the chance that this is wave iv of wave i down which means 1336.61 cannot be eclipsed. This would look similar to your take.
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=0&dy=10&id=p34572126813&a=267255338
wave iii was 1366 to 1292 I think.
Anyway, I thought I would share what I see. I have noticed that you have posted at Pretzel's site. I love his analysis, but his blog is tough since so many people are there at one time. Most of the good bloggers over there are day traders. I am out of that business.
My 401K and IRA are waiting for a better entry point like we had last October. I look at this shorter term charts to try and determine if another leg higher is in the cards. A move from 1330 to 1360 (~3%) will not get me off the sidelines.
Take care,
Aaron
1334.81 is a .382 retrace of Minute W3 (green) - 1411.75 (May 1) to 1287.25 (May 20).
ReplyDelete