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. 

5 comments:

pb said...

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

christiangustafson said...

Worse. Married!

Trading Sunset said...

...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

T.Berry said...

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

christiangustafson said...

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.