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Saturday, September 14, 2013

Saturday, 9/14/13 update

Another crowded weekend, so quick and dirty:

IS IT:

DOOR #1


OR


DOOR #2


5 comments:

  1. Hi Al,


    I had been tracking a possible expanded flat as you have behind Door #2. I am leaning heavy toward that outcome because the move from the 1625 low to 1645 (August 28th to August 30th) looks like an ABC move and not a 5-wave impulse. I really like your 2 options by the way. I really felt that the 5-wave impulse from the high stopped right where your red a is placed. Great work. Either way, a correction is coming so we will have to see how it unfolds

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  2. My bearish bias wants it to be Door #2 as well, but looks like Door #1 is what we have..........

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  3. In the very long term I think you're correct. What's being mindlessly celebrated is the destruction of the US$, which ultimately can only bring economic disaster. Meanwhile the trend is obviously UP, and don't fight the tape.

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  4. you're totally right, but even the intermediate-term count is getting more bearish, or could you count for a bullish sequence from here?

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  5. I'm maintaining a long term bullish and bearish alternate, the bullish alternate has the ES/SPX in a 3rd wave off the Mar '09 lows, the bearish alternate is looking for a significant top at ES 1745 to be followed by a collapse. You can find those alternates in the chart section of this site ("Click here to view current charts" above)

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