WallStScalper
Short

Up on the roof

INDEX:SPX   S&P 500 Index
974 20 5
1805,52 will be the 1.618 fib of the A leg in an Elliott Wave ABC-count and could be the area of a possible turning point for the SP             .

The Andrew Pitchfork goes way back to the 1987             crash. It just seems right begining there at the time the Ronald Reagan PPT             were set up for manipulating the market.

Looking at the RSI:
It has reached a resistance level reaching back to 1995. It is though the 3rd time around and it's at the level so...

As always ....time will show!

Safe trading!
BM

Music at work: https://www.youtube.com/watch?v=lpVUAYCBJR8
I wrote: 1800, Yoy laugh at me. I write: ---> TP 1850. charlie.delta.trader.BIG master
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WallStScalper PRO charlie.delta.trader
3 years ago
I don't know why you think I'm laughing at you the 1779 was the exact length of the a leg. The market hesitated there so it could have been the turning point. It was a target I had on a almost 3 month old chart. At present everything seems unstoppable bullish... so it's time to exercise some caution and just reminding of a contrarian trader always have to look at the other and the bright side of the... trade: https://www.youtube.com/watch?v=WlBiLNN1NhQ
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BEI
3 years ago
nice chart, keep up good work
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WallStScalper PRO BEI
3 years ago
Thx! BEI. Let's see.... I guess there will be some back and forth here before a possible surrendering: https://www.youtube.com/watch?v=F7O8UulcVhA
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piloteiat
3 years ago
Nice song. With FEZ & EWP trayng to go higher above 1805 also a new bull market could start.. The best tell shoud be european banks FB1! IMO. https://www.youtube.com/watch?v=w9TGj2jrJk8:)
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WallStScalper PRO piloteiat
3 years ago
Yeah! I don't think we'll see a new bull market before we have had a complete reset of the market. But everything is up for grabs. I've posted the chart 9 days ago and we are still at the 1805'ish area. SP is very overbought even on the weekly chart. As long as we are not having an explosive move higher... this could be the top. Right now I'm more into the more geopolitical and world economic parameters in trying to find out what the index charts are telling us. Will we see a shift here to the downside?? I think so.. due to - as I sees it - the chart dictates the news.
Especially the movement within the gold market is of my interest and if Saudi Arabia starts to leave the petrodollar combined with China having stopped buying US bonds.... a collapse could be the result. On till then your choice of music for the SP is spot on but the SP could also be on the last step or even the top of the stairway ...and for a short moment ..... http://www.youtube.com/watch?v=qsZQq3pXPVY
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piloteiat WallStScalper
3 years ago
Today I published this one:
Helpful correlation S&P/Swiss market ratio against SUI30
and as said this one could be very important (also because of new German coalition):
STOXX BANKS 600
TASO FOR eternity!
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piloteiat WallStScalper
3 years ago
http://stocktwits.com/message/17751957 from Andrea Calissano which i follow on twitter
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stockSMASH
3 years ago
BM...Your track record speaks for itself...with perfect analysis back in May June... would you think that market drops into December with typical wave into options expiration, this time with bias to the downside? Last two options Exp have been strong up. It would seem that there are multa sell orders on that HEAVY resistance line above 1805. A gap down would seal the deal, however unlikey ... your thoughts appreciated.
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WallStScalper PRO stockSMASH
3 years ago
Thanks for your kind words. I'll will return with a possible answer to your questions via a EW-count as soon as we see which way the market chooses to move. For the time being I think your thoughts of have a bearish december OPEX is within reach... but we need some decisif price movement before we can say something with more conviction. AN ABC move to a fib of 1.618 on weekly/monthly and a yearly harmonic ABCD pattern going all the way back to 1995...is a strong indication of - if not a top - then an intermediate turning point. I'll will return when price movement gives us a sign. BM
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This daily harmonic patten chart on the ES is begining to show signs of the market is topping here: http://gyazo.com/2052c2c8b41282a1e712f700fb2266c4
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stockSMASH WallStScalper
3 years ago
Hello from Orlando Florida. Any thoughts after today's Action? My IWM short is bearing fruit. Your thoughts on SPY and the market this month appreciated. roll to the 50? Also, anything to the fact that REITS started falling 7-8 months prior to STOCK market correction in each of the last 3 market cycles.. 2001 2007 and now... REITS fell beginning in MAY and have stayed down. A clue?
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WallStScalper PRO stockSMASH
3 years ago
Thank you for your continuing interest :) I made this comment yesterday on CurtisM's daily chart: (https://www.tradingview.com/v/aERsk5xJ/)

Yes I fully agree in your statement:
"These RSI readings indicate that just about everyone is in, that the supply of greater fools is very limited.....

We will see some chop here but first indication of a beginning trend reversal will be breaking the smaller shs with neckline around 1800 Then next step on the way will be to take out 1793,71 (EW - wave 1 violation), 3rd step will be breaking the potential bigger shs with neckline around 1776 around. Then we can have some more confidence in the bear wakeup from hibernation (See my draft underneath on a 1 hour SPY chart).

But!!!!! It aint over till the fat lady sings...so until then: http://www.youtube.com/watch?v=Mwm1H0dxAKY class='embeded-image'>

We have to keep an open mind and not lock ourselves into a bear case before the banksters are ready to let it drop. I made the chart underneath to the comment:
snapshot

The smaller shs is in but the EW step 2 has so far mist in confirming a possible reversal of trend.
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WallStScalper PRO WallStScalper
3 years ago
Well! Second step is in with 1793,71 taken out. (Gives the possibility of a limit to the upside on the counterrally after this drop has finished. Do not see a drop from the sky here, but might see at test of 1776 on the ES overnight if today is not ending with a late day rally.
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WallStScalper PRO WallStScalper
3 years ago
HFT tick! http://stocktwits.com/message/17854403
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It does looking good so far if you're a bear but SPX still missing the 3rd step: A more updated roof music: http://youtu.be/r5V8ecsrxeY?t=21s

Safe trading Gents
BM
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Let's see if we get some down move today with the SP making a shooting star. It is though a shooting star with a very small wick.... but it's there!!
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Mikke2130. PRO
3 years ago
i HERE A LOT OF INVESTOR AND TRADERS SAY THIS IS A MINOR SELL-OFF AND I WANT TO TELL ALL OF YOU THERE WRONG. THE MAJOR SELL OFF HAS ALREADY BEGUN. THE S&P 500 HAS ALREADY FORMED A PERFECT MONTHLY WOLFE WAVE PATTERN WHICH IS IN STAGE 5 EXTREME, WHILE MOMENTUM HAS ALREADY TURN DOWNWARD. THE MARKET WILL NOT ADVANCE SIGNIFICANTLY ANY FURTHER. THE DECLINE WILL DROP TO THE 700 TO 600 AREA. SO ANY ONE HOLDING STOCKS OR INDEXES FOR THE LONG HAUL ARE GOING TO LOOSE GREATLY. CHECK OUT THE WOLFE WAVE PATTERN.
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