Friday, March 8, 2013
The slightly more bullish wave count would be if the high was 3 of a die tri and now going up in the wave 5 of die tri. Then back to 1530's
The Fed is pumping so much money to sustain this rally.
I had a down day today by many systems but it dint work unfortunately.
There was this Saturn 60 Pluto 8th early morning, which happened also on 26th Dec around that time it had caused a small crash.
THIS aspect was after 22 years and as they are 3, next one will be 21 Sept. They dont hv much importance on short term usually.
Sunday begins the New moon period as Moon will also be in Pisces. But it seems the opex week may turn out to be volatile but still in favor of bulls but I am not sure. I think we should see a dip on Monday even tho it may bounce again.
14th Thur could be very positive so if that is a high day, may be 11, 12, 13 are down days.
Usually new moon in Pisces, peaking at 251 pm cst monday, is bullish but that may not work necessarily as last Full Moon on 4th was supposed to mean negative but it turned out positive. Obviously when human intervention astro fails.
More important is Mars turn into Aries at early hour of 12th March Tuesday. That is critical as Mars rules Aries and same day morning moon goes into Aries which MAY create some down time for 12/13. If 14 is an up day we can be sure we are heading into a high around 19th.
at 2:42 PM
Saturday, March 2, 2013
The price action from 1531 top has all the classic movements/ear markes of a correctional W4 pattern. It is a 3 legger down and It hasn't broke below 1467spx. So we should expect a 5th wave up to unfold. And if 1485 is to remain the lowest point for our w4, we should expect out wave 5 to be average in strength and not a failure. 5th failures can happen at any time but they "always" happen if the wave 4 overlaps the wave 1, which is 1467spx in this case. So longer term the pattern remains bullish. Does that mean it shoots above the 1524.50 highs on Monday ?
Under one wave count the 1524.50 is a 5 legger wave 1 up (1of 5). Under this count that would make the drop to 1500 an abc w2, or an abc a:2. If it was a:2 that would make the pop back to 1520ish on Fri. the "B" wave ( b:2), or some part of it. That would allow for the c:2 to drop back down near the 1499 area again. Under this wave count, the C of 2 can go below 1498spx even tho it isn't likely. We should stay attentive to this wave count.
The other is if the wave 2 was completed at 1500ish low. That would suggest the wave 3 is underway. If it breaks above 1524.50, we pretty much know which (of the two most likely scenereo's) is taking place. It will hit the stops above 1524.50 and pop or gap up sharply, and then keep grinding higher and eventually achieve the 1567ish es H&S target. 1567es is H&S flip, 1576spx & 1574spx are Fib. projections. There are certainly many other ways to label the charts, but these are the most likely at this time.
at 10:18 AM
Friday, March 1, 2013
we have an inverted H&S, so above 1524.50 now and we should go to 1567.25. The inv. H&S suggest 1524.50 is 1:5. There should be a spear waiting for the SP at 1567.25. That falls in between our last two big tops and is a great place for a flat pattern to die. Spear through the heart, but SP needs to trade above 1524.50 to trigger this projection.
Charts show a sure bullish pattern for now, they may jack it up to some new high Sun or Mon but going to 30/40 points at this stage is unrealistic but as things are they could.
Conversely Monday can also be a Key reversal day to go down at some point. If you look at daily ES futures it is a pattern called gartley that could work:
One straight line up from 31 DEC to 19 Feb and then one down leg and then one up of last 4 days.
Usually if this pattern works it is like an M with the last 4th leg extending down.
at 6:44 PM