Thursday, August 16, 2012

Charts 8-16: One more push?


Another day like today can push us up to top at 1430.  As far as I can tell, the sloppiness and overlaps of the various waves in this whole set mean that each wave may count as a triplet.  I've updated my detailed count with the a-b-c of the waves.

As for Monday, I've got us breaking down exceptionally hard and fast.  This is a worst-case scenario, I have no idea how fast things will happen, just putting this idea out there for now.  If we were to return all the way to 1260 by the full moon at the end of the month, this is how it could look -- two weeks of violent, frightening moves.

With the market stuck on stupid lately, the right news over the weekend could have gap down to 1400 Monday, and then all of a sudden 1356 by Tuesday won't seem quite so far away anymore.  But this is all conjecture.

Cheering on the bots and pumpers overnight so we can complete the proposed E-D-T tomorrow in style.  We have been seeing large moves north on Fridays lately.  15 pts is not too much to ask.

Ending-diagonal triangle 5th wave

Detail view.  Thick blue TL drawn last night.

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