Here is a chart that roughs out the first four moves of the day, Wednesday. filling in the chart ahead of time as the day passes saves a lot of thinking during the day.
Wow, Jack Hershey made a real time call, and even a bearish call for the long term. I hope he's right, I could really use the volatility.
It'll be a real test, and it's a big boost to my thread for sure. I can't wait for everybody's response. All I can picture is the long-time proverbial Jacks Camatasia post that Trader666 always pulls out of the wood work. Again, I'm not in a position to disagree with him, because that happens to be the direction I'm banking on for the next few days anyway.
I see buy 990, sell 1000. buy 995 sell 1005. Hmmmm.... yeah I think that's how I'll interpret that chart. Goes in short on the open. Looks like some massive neural networking in that chart.
Yeah, looks like he's saying one last spike upward, hope it's a big one, followed by a move down. Notice he did not say how much down, but my forecast this year had us going to 1000 by year end, and I think that's about where we'll be by 2010.
Recently (yesterday) was a big turning point for the markets. All fractals but the bull/bear fractal came to the end of their runs (legos) about midday. This final long channel that is underway will bring to the final end the Bull retrace of the economic Bear market we are in for the foreseeable future. (for those who are precision oriented CP4 is in play, however Hi Jack, Would you kindly provide a chart or few charts to illustrate your concepts? I know you are talking about a very important longer term trend. What does CP4 mean, please?