Tuesday, August 18, 2009

Just in case

I came up with this possible wave count this morning. It is not an Elliott preferred count, but, a hard down finish today, Tuesday, makes this my leading candidate and suggests much, much lower prices and in a hurry:


SPX - 120 minute


To reiterate so there is no misunderstandings, this very bearish wave count on the 2-hour chart only becomes a serious consideration if that wave 3 low gets taken out with a powerful wave down, sometime later today or at least no later then Wednesday.


A
at

4 comments:

  1. Anonymous9:53 AM

    Did I miss your discussion on how you use BWT into your trading analysis. Never really tried using CCI.

    ReplyDelete
  2. Anonymous10:50 AM

    What is that new trend line on your charts(the navy one coming in at 991.45)?

    ReplyDelete
  3. A10:56 AM

    I'm impressed, sharp eyes, that is indeed new, it's an ATR_TrailingStop indicator that a reader pointed me to about a week ago, it's in beta test mode and I have it on all of my BWT charts, more later if warranted.

    ReplyDelete
  4. A10:57 AM

    Re: BWT discussion

    More or less an ongoing discussion going back toward early 2009.

    ReplyDelete