Thursday, February 11, 2010

SPX Elliott Wave Count

Below is my Advanced GET's EW count on the 240 minute chart.  This is why the next SPX Hourly Trend SELL Signal should not be missed.

SPX 240 minute

Note also that the Vortex Indicator hasn't budged from SELL mode and the Wave 4 channel coming up from the Wave 3 low.

15 comments:

Anonymous said...

Allan,

You state in your subscription that the Elliott Wave is suggesting a sharp wave 3 of 3 decline immediately ahead.
Could you quantify the extent of this possible decline in terms of the S&P or the DOW and also the timing.

Best Regards,

Harvey

Allan said...

Harvey, my guess would be 800-900 on the SPX in a matter of weeks and later this year, below 500 in a real panic low, probably in the second half of 2010.

t said...

Its important to keep our eye on the S+P now at this key triangle point,especially going into friday.Might be waiting until friday to move in a direction.
Whats going to be the trigger news on friday?
.........................

But also, while were waiting

I think we need to keep a watchful eye on NNVC in the next few days as well, for a 'bottom' in the current wave action, and a buying opportunity.
Allan, can you keep us in view of the NNVC chart?

My own charting of it shows the .85 -.89 area as a possible support level.Folks interested in a first buy opportunity might want to watch it here.(IMHOpinion)

thx.
t

Anonymous said...

Mr. T

having bought nnvc at the recent peak, this is getting very painful

currently down another 3 cents, YIKES

t said...

Mr.Anon,by'recent peak' do you mean a buck 30 ? or 1.06??
If you bought at the peaks I'd say it sounds like you chased it.

right now,its coming down into a zone for a better entry.
Not knowing how much you have to invest in it or whether you bought a full position already,... those would be your management factors .

All I can say about the chart I see is that there will be times when it dips to the lower areas,where its heading now, and those areas are the .80 to .90 zone. and top targets in the intermediate time frame (2 to 3 months) look like the 1.40 area.

I would believe that some day ,in the coming weeks, you would have the chance to 'sell' a portion at 1.40 area if you bought 'too much at the wrong price' for comfort. and may have a chance to buy at better prices down the road.
My personal vision is that .80 to .89 area is an ok price level to buy. and .70 area would become the extreme bottom.

....and a drop of 3 cents in a day is Nothing!

Ive seen NNVC (because I own 17,000 shares) give me gains of a thousand one day and take it away the next day,a few thousand one week and take it away the next.

I watched it daily for the first 3 months like this,until Allan said he doesnt look at it. So I relaxed and stopped watching it and what it does to my portfolio numbers.up and down.

This is a buy and hold investment with a 3 to 5 year time frame,and homerun potential.

If it drops to the .70 area one more time I will likely buy more.

Anonymous said...

NNVC while down today.... is going down on Lower volume. all these down days have been lower volume than the buying volume.

TailWagDog said...

Hi Allan - Should you see this I would like to ask that you give an update on the Swine Flu basket if you can find some time to do so. In particular, I am curious about your thoughts on CVM - is it just waiting to die (technicals + today's article on TheStreet.com) or are there some compelling factors to consider? Many Thanks. ... TWD

Anonymous said...

Mr. T

I am in nnvc at 1.15, should have waited and not chased, i know

i also bought way too much, i have problems with moderation

i am banking on the fact that based on comments here that news could come out at any moment that could make these shares soar.

t said...

Mr,Anon.... be glad you didnt buy at 1.30
1.15 isnt great but I would have faith that in the coming weeks....after NNVC makes its next 'bottom' you will see it move Upward,beyond 1.15. My next big up target is the 1.40 area.

Tactically,I wouldnt want to 'miss' the upcoming chance to buy at the bottom zone.,in this .80-89 zone..... but I wouldnt worry too much if I were you about having bought at 1.15

I expect NNVC to exceed 1.15

t said...

.....but one more thing
I think you should turn your impatience dial way down....dont be hoping and praying for immediate news to pop the stock skyrocketing,dont be watching it drop penny by penny,and worrying.

be patient and wait.
It looks like NNVC is correcting down from the last big move up. This is normal wave movement. Investors and traders are waiting for it to 'bottom' and then watch the buying happen.My best guess from TA is that the bottom could be as soon as friday(tomorrow) IF NNVC drops to .89 in the next day
or it might zig zag in the next week or two and bottom a bit lower for the march 1 time zone.

I would be happy to see NNVC be sliding down to about .85,making a few bottoms at .80,establishing that base there. and setting up for a buy around march 1.

OR

that same set up might be available around march 29.

so ya hafta be patient.
its not get rich quick
its just get rich eventually.

Anonymous said...

thanks T

Anonymous said...

S+P looks like it made a 'decisive' move today.
what I was waiting for tomorrow.

Broke above 1070 and then held above 1070.
has completed 5 subwaves up today from the bottom of 1060.

Now to watch the correction and the key s/r points.

Will 1070/1068/1066 hold up as support.

Lower down,will 1062/1060 hold.
A break below 1060 would not be nice for the bulls.
Friday's (new moon) 'reversal'energy .... could see some harsh whipsaw action.
but right now Cant tell which direction will win out ,and at what s/r price point.

I hope to see what Allan's charts look like.

Anonymous said...

Allan,
I am a subscriber and I appreciate your hard work. A few weeks back you commented on EDZ and that you might be looking for a possible entry point. Do you have any more thoughts on EDZ?
Thanks.

Allan said...

EDZ is coming, as I am adding more every day. Still on a Weekly BUY but today its flipping SHORT if it closes below its trigger.

Anonymous said...

Allan,what do you think of TRGL as a possible buy?
It looks to be finishing 5 waves down and it sits near the 200 MA.
Are there any stocks worth entering long at this time?