Excuse me, but did we not get a close above 1230.70? I gave a specific number on the SPX on a closing basis, rather than the typical ET post that gives no specific parameters whatsoever. Learn how to read, or better yet take an English As A Second Language Course at your local junior college. The SPX could not close above the specific level that I mentioned. Not only was it not able to do so, but it took out last Thursday and Friday's lows on Monday afternoon. Anyone that was still long after 1225.15/1225.22 was taken out has no one to blame but themselves. The resulting dramatic price decline confirms the significance of the 1230.70 level. In any event, I sense a lot of crying here by people that don't even trade, let alone know how to read and understand the English language. How typical on ET. I apologize for the attention grabbing headline. In the meantime, try taking up an EASL course.
I'm loving this thread. Hey lithium, you mean the a-b-c wave is complete and the aaii survey adds fuel to the moonshot?? How much this moonshot cost you so far?? blaaaaaahaaaaaaahhaaa
Its just funny how he can throw away his entire thesis and analysis because the market failed to close 3 points away from some random price level his magical chart analysis picked out. Waggie has lost his credibility. --MIKE
you're being waaay too kind. This gay blade never had a shred of credibility. Every big call he has made, is followed by the market sharply moving against him. Where's Charlie Dow when you need him??
No, this is NOT what you said. You gave TWO levels. One level, 1230.70 that was the ideal level, and another level, 1225.35 that you gave as a minimum. Well, we DID close above your lower level. This was your quote "The minimum positive close for today is the 1225.35 level" You then followed up the end of week and end month action by making this quote: Great Weekly close. Great Monthly close. You showed no signs of worry here. We closed the week and the month strong and we closed above your minimum level. Take responsibility for your call.
The reason why any public prediction tool will fail to work most of the times is here: Everybody knows about them. You aren't the only 5-62-6-7-25- pattern chart drawer on the planet. Confirmations work much better then predictions.
NEW YORK, Oct 5 (Reuters) - Prudential Equity Group has closed its technical research group, with Wall Street veteran Ralph Acampora and analyst Peter Martin leaving the company, a Prudential spokesman said on Wednesday. "We disbanded our technical research department in response to market conditions and changing client demand," said Jim Gorman, a spokesman for Prudential. http://today.reuters.com/investing/...005:MTFH39629_2005-10-05_18-17-30_N05734852:1
Well, it could be true that he has discovered the holy grail to read the market. However, when he shares it with everyone, his method is not working anymore.
Yes, I showed no signs of worry because we NEVER closed above 1230.70 True, we had a higher weekly and a higher monthly close. Those were significant. Yet, we never closed above 1230.70 on Friday. Notice that I did not come on here Monday morning when the SPX was up strongly and cheerlead the call when the SPX was pushing above 1233. I was waiting for the ALL IMPORTANT close. For all technicians, it is the CLOSING LEVEL that is of significance . . . nothing else. Now I know why FOX NEWS is so popular for those that are unable to read clearly. http://scienceview.berkeley.edu/view/ ( just to piss you off Mav )