Thursday, September 25, 2014

... which would put us in a wave 3 down

Something like this?  This sets us up for -- at long last! -- a visit to the 200 DMA SPX in  two weeks.  The market, she's looking kinda shaky these days.

SPX 09-25 a.m.

Note the alternation on the proposed 2-4 waves -- a sharp wave 2 back up, compared to a meandering, lazy 4 late next week.

I've got a rare shore leave for an overnight hike this weekend, so I'll be out enjoying the larches on the Devil's Dome loop trail in the Pasayten Wilderness. 
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5 comments:

  1. pbSeptember 25, 2014 at 12:08 PM

    "Shore Leave" ? Christian are you
    in the navy?

    ReplyDelete
  2. christiangustafsonSeptember 25, 2014 at 12:45 PM

    Worse. Married!

    ReplyDelete
  3. Trading SunsetSeptember 25, 2014 at 5:09 PM

    ...With the break of sp'1978...the 'doomer' scenarios can be brought out proudly now ;)

    I like those chart levels and targets...looks very viable.
    -

    I will want to see a few more bigger technical issues achieved... namely..

    1. VIX weekly close >17.50
    2. VIX >22 (possible if sp'1920/00)
    3. Another red weekly index 'rainbow' candle next week..(now almost a certainly).

    Closing September on a low would also really help the grander bearish outlook, and setup early October for a further down move..before the 'stupid bounce'...somewhere to 1970/90....

    If that is the case... the subsequent wave would be a bad-ass....at least to 1780/60.

    Fib charts say '1650'., but now...that is beyond the stuff of dreams.

    Have a good Friday CG

    ReplyDelete
  4. T.BerrySeptember 26, 2014 at 4:37 AM

    am a buyer at 200dma or a bit above in case it doesn't hit. last time was 2 years ago.

    ReplyDelete
  5. christiangustafsonSeptember 26, 2014 at 5:41 AM

    Me, too, Mr. Berry, I'll buy that dip with you -- but only for a play into the following week, to kissback another channel (SPX 1966?)

    I'll post that chart this morning. Working on a cup of coffee now.

    ReplyDelete

Always enjoy good conversation and exchange of ideas.