Monday, May 11, 2009

Positively 4th wave

Apologies to Dylan, but each passing week adds credence to the Advanced GET wave count on the weekly S&P chart, below:


There is nothing on this chart to suggest a new bull market has started, or that the old bear market has ended.


"You say you lost your faith
But that's not where it's at
You had no faith to lose
And you know it"


A

8 comments:

Anonymous said...

thanks for the chart update!

ilene said...

Hi Allan,

To fit in with your recent attention to laws or the emergence of lawlessness, your readers might enjoy this latest outrage:

http://www.philstockworld.com/2009/05/11/the-federal-reserve-can-not-account-for-9-trillion-in-off-balance-sheet-transactions/

Ilene (More at http://philsbackupsite.wordpress.com/)

Allan said...

Outrageous! An unbelievable 5 minute exchange, our government at its absolute worst.

Dave said...

UNBELIEVABLE!!
When I see things like this I always wonder how close we might be to anarchy. Unfortunately we're so "desensitized" from all the incompetence that we just watch and shrug it off. This, after the unprecedented loss of wealth in this country. Somebody needs to be strung up.

Allan said...

Dave,

No anarchy until enough people care. You and I make 2, it's a start.

Anonymous said...

2 down days in a row...I'm thinking there is one more thrash by the bulls before the bears take over. However, if I'm wrong and the bears have already taken over, what might be the first sign to look for? Break of 850 on S&P?

Allan said...

The answer is on the Weekly chart, right side, highlighted stop/reverse Blue Wave level.

Anonymous said...

Damn! Another head fake. This must be the last bull thrashing about. When should I buy up as many put options as I can get on any stock????