Friday, November 1, 2013

Did we have a failed 5th wave?

With the SPX completing its rally at 1768.5 on Thursday?

Busy with Halloween last night; just wanted to get this idea out here.

Waiting for confirmation, several important levels to break down first.  There is also the possibility of a larger E-D here that takes us up to 1800.  But we touched the top wall of the 2009 rally channel on Wednesday, so I'm happy with this goose being cooked.

SPX failed 5th wave



3 comments:

ruff times said...

Good work. I have you picked up from ZH now. I was an early reader of that blog going back to blogspot. Total waste of time now.

Your 1768 was very right. I using SH to trade this move. Everyone is looking at 1750 as the next level. You see 1740ish?

By the way, up here in Custer.

Christian Gustafson said...

Hello and welcome! I do what I can here, posting my stuff out in the ether.

I'm looking for support in the 1660 area around November 11th.

Permabear Doomster said...

How are we going to hit 1660, when the market only managed 1636 on fear of a zombie apocalypse?
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QE continues, bears will be lucky to see a gap fill in the low 1730s.

There isn't much downside power, VIX remains in the 13s.
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