<IMG SRC=http://harrytrader.membres.jexiste.org/market/images/ewave_200503_for_210503.gif> This was yesterday's calculation for today forecast. Perhaps we can go over 8541 after new calculation for tomorrow before the bearish trend resume ... if it does of course I'm not Nostradamus I must recalculate each time Normally the time calculation is 16H so it could be in two days rather than 1 day it depends on European market because US+Europe somehow behaves like a single market which lasts 16 hours. Sometimes with Gap it swallow time that's why I divide by 2.
<IMG SRC=http://harrytrader.membres.jexiste.org/market/images/reality_check.gif> Yesterday (see last chart) we stopped just below the bullish crossing zone of 8530/8531. As I said we should make a rally before resuming the supposed actual bearish trend and since it hasn't been reached yet it is the intraday break zone for today's bullish trend. Because it is weekly scale this break can be a fake bullish crossing and turn to be a bull trap later for intraday players if this break is only due to lower scales. Looking at lower scales projection (I won't show you the model) the minimum resistance for invalidating the bearish trend is 8598. On the chart above you can see a clear single pic on blue (consolidation) line at 8573.38 (see label in orange color): this is the great resistance where the bulls should be stopped.
Harry is like odd uncle, if he doesn't show up then you wonder what he up to but as soon as he show up you suddenly remember the reason why you don't want to call in first place.
What do you mean by bottom at 8328? You mean we will be heading into a new bull market? And 8328 is the absolute bottom? Somehow too many bad news to be the start of a bull market. But who knows? I'll keep an eye on it. Having studied engineering, mathematics, quant finance, and computer science in college, I still don't understand your charts. hehe. But they look cool though! Keep up the good job Harry! trader99
Sure. 8328. I'll go ahead and put my orders in now. Thanks for the great info. I have a dog named Spanky who has seemed a little depressed lately - could you tell me what the problem is with him? You are a very funny person.
The morning rally part is in... will the intraday lunchtime counter-trend lead to more? Harry says so. I love predictions.... accurate or not it is fun to see what occurs to make them right or wrong.