have to hand it to you. you have been spot on for months. haven't disagreed more than once or twice. and this has been a tough market to figure. i like your 'keep it simple' view because i do the same. (but i have a simple mind 
)
now comes the really hard part of "wave art", the end game of this move up from july. the election exuberance is going to be the key.
does the exuberance come before the election and fail the next day, or, sideways into nov.2nd, then after the election and make some huge move up?
if spx gets to 1200-1220 before the election, I will wait for any up move after the election to prove itself.
my bet is up into the election and then spike and fail right after, like the next day if it looks like greedlock in congress. but then, i think greedlock in congress is good. :cheesy:
any down is probably only a correction in a very strong long term move up to come. the correction should be very sharp ( a great trade on the first move down) and then end right between christmas and the new year.
fwiw, an irreg B with a 62-75 retrace C, into year end, would be so freaking bullish for 2011 and 2012. ( bears will be 400% short at christmas)
but like you (i think), i too, am wondering whether this is a new wave III, still a 2, or what?
we'll soon see eh, but i'm trading it like a III until otherwise indicated.
blinx
i don't comment much but will try to offer some support or a question once in awhile.
)now comes the really hard part of "wave art", the end game of this move up from july. the election exuberance is going to be the key.
does the exuberance come before the election and fail the next day, or, sideways into nov.2nd, then after the election and make some huge move up?
if spx gets to 1200-1220 before the election, I will wait for any up move after the election to prove itself.
my bet is up into the election and then spike and fail right after, like the next day if it looks like greedlock in congress. but then, i think greedlock in congress is good. :cheesy:
any down is probably only a correction in a very strong long term move up to come. the correction should be very sharp ( a great trade on the first move down) and then end right between christmas and the new year.
fwiw, an irreg B with a 62-75 retrace C, into year end, would be so freaking bullish for 2011 and 2012. ( bears will be 400% short at christmas)
but like you (i think), i too, am wondering whether this is a new wave III, still a 2, or what?
we'll soon see eh, but i'm trading it like a III until otherwise indicated.
blinx
i don't comment much but will try to offer some support or a question once in awhile.
Last edited:
