Hey Q, Nice charts. Also nice to see another EW technician on this board I posted over the weekend about the tale of two tapes: SPX/NDX It does appear the NDX wants to correct, as we both thought, but the SPX is holding it up, because it has not finished its first impulse wave. So I see the SPX pushing higher early this week and then turning down with the NDX into a wave 2 correction. This recent top being only wave 1. Agree with your support levels. Nice blog tony
Thanks Tony, for the kind words I always appreciate your master comments on your blog! ...and when (sometimes), I am in conflict with your analysis, I need to be careful ( I am in trouble ) Best Q.
I agree with the above "counts" and we should see a decent pullback to the lows of Wave 4, roughly 1249.85 SPX. First stop, 1258 SPX.
No, They are pivot points based on my math calculation of the range of the past (two/three) trading days I tend to lower stops always, and taking profits near support resistance levels My goal is trading with a low risk... Q.
Profit target levels on NQ - ER - YM - ES and Gold chart @ http://elliottwaver.blogspot.com/ Gold is very close to complete the wave four, after that I expect an explosive move to the upside Q.
Hey Q, I liked the action in the market today. Just updated my site. Are you still looking lower? tony
Hi, Tony I am still bearish VST, but I agree with you..no follow thru yesterday We could have finished the correction in 3 waves (a-b-c= instead of five waves, as expected)..but it is still early... This bounce could be the part of the wave four Q.