Dow Jones : ......... Today's rally End of Wave 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ---------------------------------------------------------------------------------------------------------------
i would wait until dow 11,140 and sp cash 1174.5 before making anymore "10yr top formation calls " because these numbers need to be hit in order to complete the current long cycles this was already set in motion based on prices from 7-6 and 8-4-10 once we get to those areas ---- depending how much they exceed it will determine the degree of the next short cycle. Great top call BTW
The 78.6% level that I'm expecting the reversal at (or before) is at 10,943 (Yahoo Fin.) OR 10,900 (Alpari)
Greetings Stoney, always a pleasure to hear from you. Its been a while since you called me "deadbeat" We have an ongoing bet, a game so to speak, but you're going to kill it if you keep revealing your weaknesses. Don't do it, man. I prefer some semblance of a fair fight. (1) That's why my posts get 4 and 5 stars and yours do not. I want my threads to be 0-stars. Then I know I'm doing an excellent job improving my trading skills. Its counterintuitive amigo. This site has the largest crosssection of duffers in america. (2) You noticed a lot of smart posters stopped communicating with you after I closed your thread. I would be glad to reopen it if you would get your head screwed on straight. My inbox is filled with " thank you's " I doubt your's is. ~stoney There are no smart posters at ET. Again, I'd know that I'm flying if EVERYONE at ET stopped communicating with me. That would be an excellent outcome for me. By corollary, therefore I want my Inbox = 0. corollary #2 unlike you I do NOT need the warm, fuzzy, cuddlyduddly feeling of the HERD, I'm a lion, I operate alone, always have, always will. Personally my preference is that EVERYBODY at ET put me on Ignore.
For Stoney ... since star-ratings are so important to you, here's something I noticed - it will help you bump your thread rating to 5 - since that is what you crave so dearly. Every day just plug in a negative sentence about Obama. Your thread will be in a perennial "5" Another thing you can do is in your stock thread I noticed how you habitually mention 200k and 400k dollars in your this account or that - bump that up to a million and again, star rating will lodge at "5" start a journal thread and go like this in your opener, "sheesh, I lost 60k last week, but made it up a week later and now a month down the road apiece, I'm up $230k." Then continue the thread in the same vein. Star-rating will be stuck at "5" poy-manently.
Time to bring up your original ideas. You presented two margin of errors, the largest of which was Dow 10,654. We have now blown through this level and supposably your premise as well. But wait, you can just keep resetting to higher limits ignoring the fact that every time you are wrong your shorts just lost another boatload of money !!! Ok so now I see you've picked 78.6%. Strange how this was not mentioned as your "outer margin of error" orginally. Kind of makes one think you're just making this all up as you go along lol. One thing that could occur is the previous areas of resistance could become the new areas of support in a bull market. So the 10450 or 10650 levels could become the higher lows on the way up.
No need to worry whenever it finally pulls back/ reverses itâll be - See I called itâ¦. I told yaâ¦. Btw last I check a consolidation / range â is a continuation pattern, not a reversal patter â most of the time (same as with a H&S pattern â but then I donât trade patterns) The truth is I have no clue which way itâs headed â and neither does anyone else RN
The initial warning above was given on July 29, 2010. After a DEATH or GALACTIC CROSS one should wait for the rally INTO the CROSS area - that is the best place to add to short even if Price overshoots and goes above the moving averages involved. It is doomed regardless. But there are 3 outstanding clues from EUROPE - the european indexes are strongly correlated, so when there is a divergence of this magnitude, it speaks volumes to me .... FRANCE gives the best clue of the bunch. But the Swiss market and IEV(Europe 350) give good backup clues. FRANCE has charged headlong into the resumption of BEAR already
FRANCE has charged headlong into the resumption of BEAR already if my interpretation is correct Due to the strongly +ve correlation between the european indexes and Dow Jones, I take this signal seriously. see where I marked wave 2? That was a lower top. A wave 2 can retrace upto all of wave 1 but no more than 100% of wave 1. If this wave marking is the case, then the next leg down is El Magnifico aka El Terrible aka El Chingaissimo meaning the 3rd of 3rd. A notable caveat is that as per my application of Dow Theory there is NO violation YET - but Dow Theory is a slowpoke usually so this is not a big deal for me. Uploaded with ImageShack.us