Ok, I think you should continue posting the wave counts, etc. I am really interested in following it, for better or worse. nitro
I've been posting all along Nitro Here and my website: http://spaces.msn.com/members/caldaroEW/ http://www.elitetrader.com/vb/showthread.php?s=&threadid=56798 http://www.elitetrader.com/vb/showthread.php?s=&threadid=56803 I always post under technical analysis here
=============== Oil/gas sector still looks strong; maybe Yom Kipper covering will help DOW /DIA make what you called ''all time highs'' Art Cashin noted possibility of DOW slipping below 10k. However Art Cashin wasnt making a prediction; IPO market weakness , like RFX alleged fraud perhaps may help established stocks with brand name track records. Semisector group made a a higher high on better than average voulme; agree with you that bottom is an area more than an exact point. And OCT tek does tend to to make nice uptrends; sometimes because it gets so low.
Hi! Yes, been watching the SOX index. It took the Naz down yesterday but actually tried to rally today. All my technicals are aligned: markets the most oversold it's been all year. If this was a bear market we could stay oversold, but still feel it isn't. Relative VIX going through the roof, major bearishness out there. Art Cashin too? Any serious bounce could turn into a stampede. When is Kipper anyways?
Tony, I have 1172.65 as a key PIVOT tomorrow in SPX. Gotta stay above that level, or else the downtrend extends itself in duration and price.
I've been using COMPX 2040 and S&P 1280 - 1284 as key pivots points. Yesterday the Naz dropped 15 points below and then rallied over. The gap up opening today should get the S&P over it's range too. Once cleared the decline 'should' have a bottom in place.
Today is the first day in 10 days since the October 3rd peak in the SPX that we are making a higher daily high. We have also been trading above todays ES Daily Pivot at: 1178.10
And the COMPX is doing very well over EW pivot 2040! Would like to see a successful retest of today's lows, shortly Hey, and call your OIL buddy's into the S&P pit ... it might be time