Nearly missed.... That Alt -18 on the Globex is 998..... Bears still have to watch out untill 998 is closed out... c= 61.8% of a @ 998.25
Coundn't bust its lesser alt of that larger 998.25 support... 992.75 is looking more odds on the longer it stays below 1001.5 (Incorrect above that 1002) ------------------------------------------------------ Edit that was mischievous with the lesser alt ......
This type of mischief can happen in wave 4's of LD's see what you think ..... Incorrect above the 61.8% 5min ES
Tomorrow could be critical because I see a lot of INSIDE DAYS on the stocks that I follow in the energy patch, including the OIH. Do we explode up, or down? Tomorrow will tell.
Prechter's latest summary from EWT, since we hit his first P2 target and bullishness is at such a high level sentiment wise, he thought it necessary to publish early. He cites a range of 9368 (3/8) to 11,622 (2/3) for his P2, but his favorite is from (3/8) 9368 to (5/8) 11,300. Prechter: "The most important level is the peak of wave 4 of (3) of [1], a very strong target for bear rallies... This is the most important stopping point in coming days if the market continues directly up from here." This would target either 9654 or 9794.
Mischievous pattern today.... Seems the bears did have to watch out... OEX teasingly overbalanced Globex did not.... (hence the more incorrect bear options later on) Anyway that 120min Globex with the alts
Thanks Mike... It seems everyone is counting a clean 1,2 off that july 8th (09) low...? As Bolton & Frost point out many times clean 1,2's are not often what they seem... An "e" low to finish the higher (b) on the 10th of July would be a cleaner option allowing for a run to 1031 area which would equal 61.8% of the (a) wave & 3=5 on the lesser C count... see what you think on 240min SPX
Mup, I'm starting to like this count more and more, especially if we head higher tomorrow and the cyclical and energy names that I follow take out today's highs from their "inside" day that they had today.