kuilor2k

S&P Two week preview

INDEX:SPX   S&P 500 Index
114 4 1
The market appears ready for a slight pull back to the Oct             . 11th 2007 high and then new highs.
I see a W-bottom and a line of resistance tested twice. Support at ma50 and a market that wants to break resistance and seek the ma20. Am I a Bull..no definitely not - more a permabear in Hibernation ready to chew my first bull when the Middle East is on fire. But for no Market go make a DT or a major wave 4 pennant. All options are on the table. Nothing can be ruled out.... but price action will tell us
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WallStScalper PRO WallStScalper
3 years ago
I see a W-bottom and a line of resistance tested twice. Support at ma50 and a market that wants to break resistance and seek the ma20. Am I a Bull..no definitely not - more a permabear in hibernation ready to chew my first bull when the Middle East is on fire. But for now... Market could make a DT or a major wave 4 pennant. All options are at the table. Nothing can be ruled out.... but price action will tell us
Reply
QuantitativeExhaustion PRO WallStScalper
3 years ago
How about a WXY wave extension? Another another corrective wave possible too. Lot of people labeling this as 1-2 fifth wave. IMO we went to deep. If it is a fifth, probably a failed fifth, so yes double top or just short of that.
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WallStScalper PRO QuantitativeExhaustion
3 years ago
If major wave 4 and 5 then late fall or beginning of 2014. If DT. Then they possibly will pull the plug when ww3 is proclaimed with start of no-fly zone in Syria
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