WallStScalper
Long

Blow Your Mind Plz! The Sky's The Limit For The 5th Wave Up

FX:SPX500   S&P 500 index of US listed shares
3210 51 24
5th Wave Plz!

Remember it's a weekly chart!

Notations on the chart!

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@WallStScalper

Music at work: The sky is the limit
https://www.youtube.com/watch?v=MYGjxZh0W7U
Wall St Scalper
Vyaz
a year ago
Do you think the 4th wave is done and we are now going to 5th?
Reply
WallStScalper PRO Vyaz
a year ago
Believe the wave down was capitulation and the result of the "Broken Arrow" ending diagonal but job is not finished yet. Nice hammer candle on weekly if we stay here at this area on friday
+1 Reply
BobVanders
a year ago
The fed is the limit.
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WallStScalper PRO BobVanders
a year ago
Nope... lack of imagination is the limit
+1 Reply
BobVanders WallStScalper
a year ago
No, it's not.
Reply
WallStScalper PRO BobVanders
a year ago
Can we agree upon that reality almost always is beyond imagination?... if not then you are fully entitled to your opinion and I will not argue anything else with you.
+1 Reply
BobVanders WallStScalper
a year ago
We can agree that the market's future is usually beyond what most people tend to imagine, yes :)
+1 Reply
WallStScalper PRO BobVanders
a year ago
Cheers I agree!
+1 Reply
jangseohee
a year ago
i believe you are using linear scale Lawrence,
Log scale wise, i do foresee another parabolic move of which by then... each day will drop 500 points for 2 months !!!! lol sound lunatic
snapshot
+3 Reply
WallStScalper PRO jangseohee
a year ago
Sounds great ...bring it on! Good money to be earned then ;-)
+2 Reply
JohnKeverich
a year ago
You guys seem so certain this is over...after just one week. IMO this is a B wave, or a 4th wave within an A wave down. Second half of September/early October is a seasonally weak period for SPX - seems like an appropriate time window for another leg down.
Reply
jangseohee JohnKeverich
a year ago
Hi John, share your chart please ^_^
+2 Reply
WallStScalper PRO JohnKeverich
a year ago
It's a weekly chart...so nothing is over ...till it's over
+1 Reply
RoberRV
a year ago
Could be this in play??

https://gyazo.com/f67f0aaf3fb1be82fc69b4c9d04bf6a0

+1 Reply
jangseohee RoberRV
a year ago
not bad
+2 Reply
That's the sharpest 4th in human history...
+1 Reply
WallStScalper PRO IvanLabrie
a year ago
Yes it is... Notting have been seen like this before. I think it's due to the circuit breaker. That stops the drop... at was activated yesterday for a short period.
+1 Reply
IvanLabrie TOP WallStScalper
a year ago
Hahaha.
I see new lows after 3 days max. 27th.
Reply
jamesbrown IvanLabrie
a year ago
i trade what i see and i never forecast.i shorted uvxy at 72.90 when sp500 supported that lower trend line of 1814.i have a buy stop at $77 and will go long uvxy if sp500 closes significantly lower than 1814.uvxy will erupt.that etf was not in existance in 2008,but now it is.uvxy is the worst stock/etf since late october 2011.(check out how much its lost)uvxy decays very rapidly due to rollover of vix futures.so everytime uvxy hits its 200 day moving average i short it.i have been doing that since october of last year.i do not want to disclose my average or the amount i have invested.i do not like to brag to others it makes others feel bad.and there is no need for that because ca$h is king.i do not trade any other stock/etf because diversification is for investors who are insecure.if you are secure about what you own you dont need 5 stocks/etf which minimize your chance of making money.2 up and 3 down.short the worst stock/etf which is uvxy/tvix/hvu(canadian) at the 200 day moving average and make $$$$$$$$$$$$$$.
Reply
jamesbrown jamesbrown
a year ago
its called contango the rollover effect
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jamesbrown jamesbrown
a year ago
uvxy/tvix/hvu have done reverse splits so many times over the years.i have been shorting it since inception late october 2011.so calculating the % it has lost over the years is very difficult.all i know is that its the worst stock/etf ever in history.
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IvanLabrie TOP jamesbrown
a year ago
I've seen a guy post a strategy revolving around that.
Sounds like a smart trade to take (for as long as volatility doesn't increase, and for as long as the FED pumps the equities).
Reply
jamesbrown IvanLabrie
a year ago
analysts commentators investors are already talking QE 4,5.what interest rate hike.the economy is very weak.having said that i still trade what i see.you never know what happens.anything is possible.the fed reserve made the same error in th3 1930's and world war 2 got america out of the great depression.history may repeat itself.have no fear if that happens buy uvxy/tvix/hvu and gold.thanks for the compliment.
+1 Reply
IvanLabrie TOP jamesbrown
a year ago
Indeed.
Check out silver right now, very interesting level.
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WallStScalper PRO jamesbrown
a year ago
The test is now..so far the forecast worked
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FullTimeTrader
a year ago
Agree 100% though many are skeptical, the market will tell
SPX500-The stock market is crushing as expected. What
+1 Reply
You can't use technical analysis in this situation.... Just no..
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IvanLabrie TOP Tom_Killick
a year ago
You surely can mate.
Just that labeling a move this big and sharp a wave 4 is not my cup of tea,
Also, see the impact in the carry trades, usdjpy down, gbpjpy down, eurusd exploded up...not your typical S&P correction side effects.
+1 Reply
Tom_Killick PRO IvanLabrie
a year ago
The sharp move down was the point I was making. It's insane
+1 Reply
IvanLabrie TOP Tom_Killick
a year ago
Completely wipes out a year advance almost...can't be part of the same structure, common sense to me. :)
+1 Reply
Tom_Killick PRO IvanLabrie
a year ago
Couldn't agree more
Reply
Tom_Killick PRO Tom_Killick
a year ago
Nice analysis on that wipeout also
+1 Reply
IvanLabrie TOP Tom_Killick
a year ago
Now waiting to profit from the inminent storm that follows the calm.
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IvanLabrie TOP IvanLabrie
a year ago
(after the storm) xD
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jamesbrown
a year ago
very likely if sp500 supports 1814,but a significant close below that level breaks lower trend line and that trend channel is over.so whoever shorted uvxy/tvix/ at sp500 1814(like i did) (short uvxy at 72.90,buy stop at 77)stands to make a great deal of money.
+1 Reply
IvanLabrie TOP jamesbrown
a year ago
Norman, would like to see your thoughts on a chart.
Care to post one?
Thanks in advance!
Reply
jamesbrown IvanLabrie
a year ago
ivan sorry for the delay.i was on vacation.with my type of investing strategy i do not need to sit in front of my computer.as i stated i only short HVU(canadian equivalent of UVXY).hvu/uvxy/tvix are the worst stock/etf ever.so as long as it stays below the 200 day moving average i remain short.if HVU closes 2 consecutive trading days above the 200 day moving average then i go long HVU for the markets will be broken and the bull run would be over.my last hvu short was put in on sept.1,2015 at the close.short at 97.80.so i have shorted hvu for 4 years now and every time hvu crosses over the 200 day moving average i short it at the close.i am sure one day hvu will close 2 cons. trading days above the 200 and the bull run will be over but for now i am short hvu (long markets).as for charts i see an ascending triangle on the spy,which is very bullish.
Reply
IvanLabrie TOP jamesbrown
a year ago
Interesting, great job trading it.
+1 Reply
WallStScalper PRO IvanLabrie
a year ago
Thanks!
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IvanLabrie TOP WallStScalper
a year ago
I'm long usdjpy now...it might seem like this scenario is playing out.
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Ha ! 2000 have seen the chart and only 16 agrees....The bottom is in... ;-)
+1 Reply
Will Wong
a year ago
If you are not long now, is it too risky to get in now? Wave (i) of 5 could be a long way from here!
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BLawrenceM
a year ago
My mind is for sure blown...thanks
+1 Reply
WallStScalper PRO BLawrenceM
a year ago
:-) You are welcome
+1 Reply
Will Wong
a year ago
Looks like the bottom for wave 4 is already locked in. Is that a fair statement?
+1 Reply
WallStScalper PRO Will Wong
a year ago
Yes the test is coming 2 day and next week
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Will Wong WallStScalper
a year ago
Would you say sub wave i of 5 is done and we are in a sub-wave ii correction?
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Harsha_Kumar
a year ago
This IS Awesome !! How come I never Thought of this wave count ??? Probably I wasn't paying enough attention. Thank You WallStScalper for enlightening me !
+1 Reply
WallStScalper PRO Harsha_Kumar
a year ago
You are welcome :) Get on twitter ( @WallStScalper ) You get a lot more each day
+1 Reply
would break your bottom channel if it get into the H&S target of around the 2008 high
Reply
WallStScalper PRO VivaciousVibrantVixen
a year ago
Yes... but then the count isn't right...
Reply
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