s&p just made intermediate term top on 11/22

Discussion in 'Trading' started by thorn, Nov 27, 2006.

Did the S&P make an interediate term top @ 1407.9?

  1. yes, I agree

    15 vote(s)
  2. no, you are wrong thorn

    24 vote(s)
  3. I don't know / go away thorn

    10 vote(s)
  1. LT701


    boy, times really flys doesnt it

    sure seems like less than many, many months, doesnt it

    when will you people learn, and quit posting this bullshit?

    the market is always right, those who fight it are always wrong

    i'd be the first to tell you the action defys logic of fundamentals, and would probably agree with everything you might say

    but it's going UP

    and it's going UP until it stops. that could be anytime

    but not one moment before it does
    #121     Dec 5, 2006
  2. jan168



    Good saying!
    ...up trend ...until its stop....!:)

    when goru calling "The Top"...

    for newbies not only miss out this up-leg,
    worse of all - even taking short sides...

    I may have contributed some of his 7 digt trading account.....
    #122     Dec 5, 2006
  3. thorn


    yeah, you're right. i was wrong. i've been wrong before. and i'll be wrong again. but i don't think posting this is bullcrap, sorry, i'm going to disagree w you on this one. but thanks for your 2 cents!
    #123     Dec 5, 2006
  4. Sometimes I do. It depends on where I stand for the year. You obviously cannot gain as much as a trending market, but you never know when the trend will start again so you do pick up some pretty good winners if you use a trailing stop near previous resistance.
    #124     Dec 5, 2006
  5. S2007S


    No one knew in mid July that the market would be sitting at 12300+, no one could have predicted this one. No one will know when the top sets in either. Everyone talks on this board as if they caught the July low perfectly and that they will probably catch the top as well. Believe me you wont catch the top, it will be something called luck if you do. The market will be down 700+ points before you realize that the top was in.
    #125     Dec 5, 2006
  6. Not necessarily true at all.

    Now that we have the end of Wave 3 on the SPX chart which was followed by a pretty simple A-B-C Wave 4 correction in which the "B" wave made a new high, before correction back into the 1377.83 low, all one has to do is take the length of Wave 1 from back in the Summer of 68 SPX points and add it to the low of the C-wave of Wave 4 last week at 1377.83 for the ultimate target that ends this rally.

    1377.83 + 68 = 1445

    Just to be conservative, one should also take a fibonacci .618 of the 68 handle move and add that to 1377.83 as well, which would suggest a target of 1419.83

    Stay tuned!
    #126     Dec 5, 2006
  7. You're assuming a simple abc correction for wave 4 which may not be the case. You're also assuming we just finished wave 4 which may not be the case.

    The thing that is good about elliott is we will know for sure once the cycle completes, which unfortunately will be too late.

    And just for the record I have an elliott wave program that shows we are still in wave 3.
    #127     Dec 5, 2006
  8. jan168


    never really get into the E-wave....wave of A,B,C, or a,b,c,...

    but I find out that always the price acts first than the indictors follows...
    #128     Dec 5, 2006
  9. Thanks for the double speak.

    #129     Dec 5, 2006
  10. LT701


    so why are you still here?

    according to your original post, you have no right to disagree here

    Quote from thorn:

    i guarantee that the s&p just made an intermedaite term top on 11/22 @ 1407.9. it will not see that level for many, many months.

    i am so sure of this that i will leave ET and not come back under any alias if i am wrong.
    #130     Dec 5, 2006