On scale 1 (hourly) a bullish presignal was given after having made wave 5 down target. On scale 2 (dayly) the low coïncide with wave 1 and consolidation is wave 2 expectancy at 9227. Must pass the cutting zone of 9057 to confirm. P.S.: this is not elliott wave theory but an other "ewave" approach derived from my theorical model. <IMG SRC=http://harrytrader.membres.jexiste.org/market/expectancy_100603.gif>
Camarilla lovers sellers will have to cut at 9057 fuelling the rally <IMG SRC=http://harrytrader.membres.jexiste.org/market/expectancy_100603c.gif >
They just made the narrow day under the break level at 9057/9058 - so it was not 9050 as some trendliners believe believe hee hee. So tomorrow should be an easy MOB (make or break) day.
Well, I hope you are right and we rally like mad tomorrow. Because I have a huge position on overnite. I really need it to come back for me to make back the $ I lost today! haha. Well, if not then I know my exit points already. thanks! -99
strong resistance at 9097 Onweekly <img src=http://harrytrader.membres.jexiste.org/market/expectancy_110603.gif>
Hee hee it consolidated around 9100 before taking off and reach the wave 5 target of scale 1 at 9178 theorically (in real we made a bit higher at 9183.22 and at close which confirms the bullish bias. If we take 16:00 the high was 9181.92 so very close to the theorical number). This level is a precontinuation signal so we are on the way to do our 9227 target and even more possible but I must make calculation before. <IMG SRC=http://harrytrader.membres.jexiste.org/market/expectancy_110603b.gif> P.S.: remark the 9112 level (in fact 9112/9120 combiningspot and futures but I show only one chart here) marked as precontinuation signal this was an indication that the consolidation around the weekly resistance was bullish.
After making calculation my intuition just above was false : calculation shows we are already overextended at current level so that so 9227 could not be done straight away.
We are overextended because the wave 1 on daily scale is above yesterday's high, nevertheless if we touch it at 8207 then this would nullify the potential reversal and launch a presignal for a new bullish impulse instead. <IMG SRC=http://harrytrader.membres.jexiste.org/market/expectancy_120603a.gif> For the real signal onemust look on lower scale : the wave 1 is at <FONT COLOR=GREEN>9220</FONT> which should be the break zone after opening. <IMG SRC=http://harrytrader.membres.jexiste.org/market/expectancy_120603b.gif>