SP The Case for New ALL TIME HIGHS
#SP The Case for New ALL TIME HIGHS I can’t count how many times during the day I hear talk about a re-test of the recent low. As no one else seems willing, I am here to talk about the realistic potential for a more significant test of the high and possibly more! Prices held the bottom of the up channel and did spring from below my 2350 downside objective. One possible Elliott Wave scenario to make this happen is pictured as an expanding fourth wave triangle. The upside retracements to watch are the bearish 62 just above 2900 and the more likely 76 near... read more
The Updated case for SP 2350
Last week I presented this long term count which actually suggests this debacle to be “sudden disappointment” in a long term bull market….Stand by as prices near weekly RSI support following the recent divergence on the... read more
Bearish call for SP 2350
The case for SP 2350 #sp I believe there is no way to argue the recent price behavior to be corrective to the upside which supports the case for a fifth wave diagonal triangle top. The monthly RSI divergence is part of the scary scenario for a dramatic fourth wave correction. The fourth wave of smaller degree is fairly close to the bottom of the up channel as well as a 38% retracement. If 2350 is coming it is likely to happen in the next few... read more
SP HITS 2350 TARGET!!!!!!!!
read moreRisk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
