Ok - in that case, isn't P&F charting kind of irrelevant for trading? If something falls 20%+ surely you want to be playing it mostly from the short side. In that case, I don't see any value in labelling it an intact "bull market" since that implies having a long bias. Only on an ultra-long investor timeframe does it make any sense to ignore 20%+ corrections.
It is a two step process. You are not ignoring anything. Don't worry about it. Just continue doing what you do, and I will continue doing what I do.
This is what I have for the RSP chart. Its from yesterday, price jumped to the middle of the apex and now it can go either way. Futures in the red right now, Im betting the continuation to the downside.
You are posting in the wrong thread. This is the next wave down thread. See the F and FSLR thread for a response.
maybe you could enlighten us what your text book analysis tells us why the S&P did not fall to 1150 but is trading close to 1400 now ?
Yeah, since this thread was started the SPX has gone from 1360 to 1393 and the Euro appears to be working on a WEEKLY reversal bar to the downside, which will obviously be supportive of U.S. equities. Hmmmmm...... 1150??? Don't think so.
Duh Topsurfi... look at your keyboard mate. It's obvious... the 4 is above the 1. Simple type error and could happen to a bishop... it was supposed to be 1450 not 1150.