I have updated calculation: there is a risk of intermediate turning point on upper scale so Prudential Bulls should stand aside.
See why it is important to recalculate from day to day and reinterpret because on intuition only I am very bad . Easy today because he didn't make any thrust higher so shorting at opening was cool.
My daily recalcs. similar. Market always has more than one scenario, only one usually less risk than the others. No apologies for revisions in outlook. Price action demands revisions. How often to revise is the million dollar question. I think it depends upon your trading time frame. Much Success,
Nevertheless Bulls are not dead yet so my targets should stay valid. Hey do trade on daily or intraday scale ?
Trade daily swings. Long 9115 Sept on Weds. 9040 stop shaved close today but hung in there. Still holding long from original signals looking for PT around 9300 and will adjust stops accordingly. Good shorting today for daytraders though. Hope you guys cashed it in. Much Success,
I only daytrade because the vol is so great you don't have to wait for days and undergo large retracement and also because the precision of calculation is best for intraday scale. But I am observing the behavior of the market through my model and I should arrive one day to a very good precision on upper scale also. For example the 9227 target was hit with a high of 9236 so less than 10 points, normally I shoud do better than that when I will have enough observations. I am also working to fully describe the detailed path sequence of the market on intraday basis. It's just a question of database accumulation and statistical treament (can take perhaps 3 to 6 months). I was looking for an intraday elliottist so as to map my ewave chart with elliott what a pity you don't daytrade . For daily target yes I agree that after passing 9263, 9300 is reachable (I think I have 9302 / 9311 at last calculation ).
I said that before updating the last calculation. So now the forecast is that we could retest the high before breaking down the low for consolidation. Then bullish trend could resume for passing those targets and going possibly higher and perhaps even much higher but I don't like to anticipate too much: as a daytrader I really don't care what the market will do further than a few hours so forecasting for days and weeks is just for fun because my model allows to do so - see my homepage for example I just added some explanations for predicting higher scales (I have not finished yet so come back later) : http://www.harry-trader.com/ (for a guide goto the old site http://perso.wanadoo.fr/harrytrader/)