Rudolph still have some strength left to bring Santa all the way to the chimney top at around 2073ish where his nose will turn ...red.
I see the following patterns:
A fib extension at 1.272 from 2019 swing high to 1820 swing low
On the indicator side I see the following:
A / Fisher system (nmike & JR system) almost ready to role over... but not quit yet
A about to cross over and a histogram on 0.41 ....almost there...but not yet.
A that's still green and still above +100
I'm neutral and in cash right now.
Time will tell.... as always
Safe trading ladies and gents and a merry christmas for all traders out there!
Music at work:
In my view it's a mathematically based strategy they strictly follow. We are pawns in that game and do not understand it fully.
We can only have the strategy to "follow the leader". So when the leader says it's time to short - I'll do it. I believe it's too early and will sit in too much pain for too long before they rule it's time.
I need confirmation and I do not have any confirmation yet of a short. Think twice ....This could also be a parabolic move that continue to the 2.618 extension. We just don't know .
The S & P 500 has strong resistance at 2,094 points and the Dow Jones in 18,300 points, the indices can not reach these levels.
The reversal may begin soon, problably in the beginning of January 2015.
I agree on the megaphone, but note that it is weaker with each iteration as more and more people see it. The bull will be tested, but i fail to imagine how far we can go if the megaphone breaks to the upside...IF it ever breaks...price can go up even within that resistance line. But about the reason for it to drop....well, they will always find one. I find it weird how Ebola faded fast ...
Safe trading and wait for confirmation before shorting the market. I'll give a its when I see the conformation in ...if it's not too obvious. @BLawrenceM
As long as the latest top is not taken out I see a bearish setup. The last chart in the row is now showing a nice divergens, but admit... we need to see moment drop very soon
and this; http://gyazo.com/79c9f30b01d5e01884ed8953c0b862fc
Due to only a 38,2 retrace I see a possible alt 4 and 5 could come in play. Not saying it will but keep an eye on the waves down. If only a 3 wave down or pennant during the trading day. It's probably an alt wave 4 and 5 in play.