Even when we're having a hard time getting a read on all of this, we still owe it to ourselves to bang out some sort of wave count.
Good luck to all ...
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| SPX 01-27 |
Tuesday, January 27, 2015
Charts 01-27: Triplets, not a triangle
A very long-running ending-diagonal top. /ES futures getting excited, I have a target for a final high of 2096-2097 SPX late Thursday or early Friday as a reaction off Q4 GDP.
Even when we're having a hard time getting a read on all of this, we still owe it to ourselves to bang out some sort of wave count.
Good luck to all ...
Even when we're having a hard time getting a read on all of this, we still owe it to ourselves to bang out some sort of wave count.
Good luck to all ...
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3 comments:
Bollinger Band watchers have to notice that the bands on the SPX daily are tightening VERY fast.
Upper daily SPX BB now at 2080, roughly the December 5 high.
This may lend support to Bicycle's theory that we experience a wave "failure" up here, that we get a final push up that we count as a "5th wave" or whatever, but which fails to make a new high.
The resulting move off that kind of turn should be violent.
So perhaps a double top then failure? Must be nimble, must be quick... ;-)
Yep, Jack got singed... Out with a minor gain.
Ugly, no other word for it. Running numbers and probably should have reversed but couldn't be at the computer. Let's see how Bicycle's charts play out.
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