What looked like a triangle being formed in the ES yesterday now appears to be a double zig-zag:
Longer term view shows this as a 4th wave:
However, there is another way to count the latest sequence that arrives at the conclusion that THE TOP is in. Not very likely given the Fed's determined pump priming, but here it is:
Tuesday, 9/25/12 update
What looked like a triangle being formed in the ES yesterday now appears to be a double zig-zag:
Longer term view shows this as a 4th wave:
However, there is another way to count the latest sequence that arrives at the conclusion that THE TOP is in. Not very likely given the Fed's determined pump priming, but here it is:
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)
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)